Assembly Speaker M Appavu said leaders of the two AIADMK factions submitted him 6 letters, including 4 from Palaniswami, asking for separate seating arrangement in the Assembly for their respective members.
They teamed up with a former AIADMK leader KC Palanisami and appealed to the AIADMK general secretary Edappadi K Palaniswami and Panneerselvam to merge their factions and strive for the united AIADMK's victory in the 2026 assembly election.
The Madras High Court on Tuesday dismissed as not maintainable, a public interest litigation (PIL) petition challenging the organisational polls of the opposition AIADMK, where incumbents O Panneerselvam and K Palaniswami were elected unopposed as Coordinator and Joint Coordinator, respectively, of the party.
Shares of Bajaj Finance surged over 6 per cent on Thursday after the diversified non-banking finance company reported an 18 per cent increase in consolidated net profit to Rs 4,308 crore for the December quarter. The stock rallied 6.33 per cent intraday to touch Rs 8,249.95 - a 52-week high -- on the BSE.
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
All India Anna Dravida Munnetra Kazhagam (AIADMK) interim general secretary Edappadi K Palaniswami (EPS) and ousted party leader O Panneerselvam on Tuesday moved the Madras high court against the sealing of the party headquarters by the Tamil Nadu government following violence there on July 11.
Presiding over a Christmas event in Chennai, Panneerselvam, quoting the preaching of Jesus Christ, said if those who commit wrongs reform and return, accepting them back is leadership quality.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
The All India Anna Dravida Munnetra Kazhagam headquarters in Chennai was sealed by authorities on Monday following violence and vandalism between supporters of rival leaders Edappady K Palaniswami (EPS) and O Panneerselvam (OPS) in and around the party office.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
In focus are the assembly polls in 2026. From a BJP perspective, their attack on the ruling DMK, using the 'Hindutva' card, and Annamalai's targeting of both Dravidian majors on corruption has not worked, points out N Sathiya Moorthy.
The sub-quota scheme may now lead to a ganging up of non-Vanniyars in individual constituencies against the Vanniyars just as in the past, such ganging up against SC-ST candidates was seen in the non-quota constituencies, says N Sathiya Moorthy.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
Despite the equity booster, many would be uncomfortable about NPS.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
New Delhi-based pharmaceutical major Mankind Pharma is poised to take pole position in women's health portfolio in the India Pharma Market (IPM) after completing the Rs 13,630 crore deal to acquire Bharat Serums and Vaccines (BSV), senior company officials said. The deal potentially opens doors for Mankind Pharma to the overseas markets, which currently draws 92 per cent of its revenues from India. The combined entity will draw around 13 per cent revenues from the international market, with the remaining coming from the domestic market.
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
Palaniswami currently helms the party founded by the charismatic M G Ramachandran and nurtured by the redoubtable J Jayalalithaa.
The BJP's strategy seem to be to wean away allies from the Congress, in Dravidian Tamil Nadu, and maybe later in UP, Bihar and elsewhere, though in slow doses, but without wooing them into a new alliance. The idea seems to be only to weaken the INDIA bloc from within -- and leaving it at that, notes N Sathiya Moorthy.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
Shares of Le Travenues, which operates online travel booking platform ixigo, soared 78 per cent on their market debut (June 18) and surged 80.4 per cent in the three days over their issue price. Ixigo has joined competitors EaseMyTrip and Yatra on the bourses. Analysts believe the blockbuster response to ixigo may lead to greater scrutiny of the financial performance of other online travel aggregators (OTAs) like Easy Trip Planners, and Yatra Online.
Stalin, in an interview to a daily, has refuted the FM's allegations, saying "everyone present in the Assembly knew it was a drama enacted by herself," referring to the late Jayalalithaa.
In the absence of the over-arching 'Jaya charisma', EPS has to convince the AIADMK's traditional constituencies, including those in his western districts, that his leadership would stand up against the BJP-led Centre even in a post-poll scenario, a la Jayalalithaa, and would not yield as much as party founder MGR had done, says N Sathiya Moorthy.
By getting the Tamil Nadu assembly to act on his very imaginative public declaration to keep petro-chemical industries out of the Cauvery delta, which has traditionally been a DMK stronghold, Chief Minister Edappadi K Palaniswami has not only set the ball rolling for the assembly elections due a year later but also sent out a strong message to the BJP government at the Centre, which took a unilateral decision to exempt petro-complexes from environmental clearance, says N Sathiya Moorthy.
'Over the next 12 months, it will be difficult to make 15 to 20 per cent return in the markets as the valuations appear stretched.'
EPS is not a good measure of performance because it does not consider the opportunity cost of capital and can be manipulated by short-term actions.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
Panneerselvam, writing to Palaniswami said AIADMK workers have been incensed since opinions were expressed over single and dual leadership at a party meet on June 14.
Should the ruling AIADMK in Tamil Nadu not make the required five out of 22 by-election seats, or even otherwise, the temptation to poach, especially from the Congress or starting with the Congress may be high on Chief Minister Edappadi K Palanisami's agenda, says N Sathiya Moorthy.
Wednesday's Vikravandi by-election has become a referendum on the Stalin government, notes N Sathiya Moorthy.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
For now, Edappadi K Palaniswami is in the saddle in Tamil Nadu, and firmly so. Both inside the party and the government, he has made OPS a yes-man, as the latter used to be under Jayalalithaa, says N Sathiya Moorthy.
As pressure mounted, the CPI-M-led Left Democratic Front seemed to be supporting Mukesh, taking a cautious wait-and-watch stance.
Panneerselvam indicated that he would support the move but laid down certain conditions, he said without divulging them. "I hope the two factions would sort out the differences soon," Annamalai said.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
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