In a disciplinary action, three other functionaries, also belonging to Theni party district like Raja were dismissed.
'OPS is the first person in history to ransack his own party office.'
A court of chief judicial magistrate granted the police 60 days to carry out the probe and directed it to provide progress reports every three weeks, public prosecutor K Balachandra Menon said.
BofA Securities has revised its year-end Nifty target from its earlier projection of 16,000 to 14,500 now - down over 6 per cent from the current levels. Fast tightening monetary conditions, slowing growth/fears of US recession and the likely Nifty EPS (earnings per share) cuts, BofA Securities said, are the key headwinds for the markets in the near-term. However, clarity on macro and monetary policy outlook in the US/India, it said, is the silver lining that could see markets bottom out by August/September 2022.
The twin announcements have virutally cleared the decks for the merger of the two factions.
Aseem Chhabra rates the movies he's watched in 2023, and tells you where you can watch them!
'As China's reopening euphoria fizzled out on the back of some disappointing economic data, we saw inflows coming back to India with full force in the past 3-4 months.'
The AIADMK's staying power is not in question, but it has to regain the winning streak. That will require its leaders and leadership to re-wire themselves, to be able to re-think situations in ways different from what they had been accustomed to, suggests Sathiya Moorthy.
With the unanticipated floods across Tamil Nadu catching the unprepared administration unawares, Stalin finds that some of the early positives that had rubbed on his initiatives have been lost, observes N Sathiya Moorthy.
State Bank of India's earnings growth may turn lacklustre in the near-term, warn analysts. This, they said, could be due to margin compression and likely lower fee income over the next one year. "While the cost of deposits is repricing sharply across the system, there will be relatively lower yield expansion going ahead as most of the back-book has been repriced and there is a high competitive pressure on yields.
Sources in the military establishment also said the present global scenario "necessitates a flexible and adaptive approach" to tackle defence and national security challenges.
'The AIADMK gets votes from all sections of the minorities.' 'By aligning with the BJP the AIADMK stands to lose that vote'
'Tamil Nadu presents a challenge to the BJP and its politics.' 'DMK is making all efforts to resist the BJP.'
The bickering between allies All India Anna Dravida Munnetra Kazhagam and Bharatiya Janata Party in Tamil Nadu over late Dravidian stalwart C N Annadurai peaked on Monday with the regional party snapping ties with the saffron organisation, saying it cannot tolerate any affront to the late chief minister and its other leaders.
'Like all long-term bull markets, the Indian stock market will continue to climb the proverbial wall of worry.'
'He has to listen to his body and his mind and he decided to leave politics.'
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
Even as the grand old party seeks to promote opposition unity ahead of the hustings next year, Trinamool Congress supremo and West Bengal CM Mamata Banerjee, however, would be conspicuous by her absence at the event at Sree Kanteerava Stadium.
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
A total of 16 resolutions were passed in the crucial All India Dravida Munnetra Kazhagam general council meeting held in Chennai on Monday in which Edappadi K Palaniswami was appointed as the party's interim general secretary and O Paneerselvam was expelled for "anti-party" activities.
He appealed to Kerala to extend cooperation to store full water in the Mullaiperiyar dam.
After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
Bajaj Finance's quarterly business update, coupled with around 24 per cent fall over the past six months, has turned risk-reward favourable for investors, observe analysts. They see up to 39 per cent upside in the stock, from a one-year perspective. Global brokerage CLSA, for instance, has upgraded the stock from 'underperform' to 'outperform' with an increased one-year target price of Rs 6,600 (vs Rs 6,000 earlier) as it believes the risk-reward has turned favourable for the counter, and there is scope for expansion if growth remains robust.
The Tamil Nadu chief minister, who is in Pudukottai on an official visit to review anti-COVID-19 measures and development projects in the district told reporters that vaccination shall cover all sections of the society.
On the face of it, the first round has gone to Edappadi K Palaniswami. Not only has he been named chief ministerial candidate, that too by his one-time bete noire Panneerselvam, he also gets one member more in the steering committee than OPS. He can now hope to wean away one or more members of the OPS team in the steering committee just as he had done with other leaders in the latter's camp, post-reunification. That was also OPS's concern, says N Sathiya Moorthy.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
The brokerage believes the economic growth cycle is not fully priced in. It has revised upwards the earnings per share (EPS) estimate for Sensex.
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
'If the EPS government falls, Sasikala will return. If EPS wins, he will become an indispensable leader and Sasikala will not be able to return.' T E Narasimhan reports.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
The trend in corporate earnings suggests that index earnings could fall to the levels last seen in early 2014.
The CM, along with Lok Sabha Deputy Speaker M Thambidurai, met the PM at his office in Parliament House.
Factionalism between OP Panneerselvam and Edappadi Palaniswami, the dominance of the BJP, the ruling DMK having a strong face in the form of CM Stalin, 'community and region-based politics', corruption charges against former ministers, and lack of a proper ideology are the major challenges the party is facing in the state.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
Arjunan claimed that some persons belonging to the DMK in the guise of public abused him and his mother.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
At 70, going by hospital records made public, most age and health-related arguments put out against super-star Rajinikanth's entry into politics, before he withdrew citing a 2016 kidney-transplant, hold good for Sasikala, too, says N Sathiya Moorthy.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
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