In more than one way, it's a setback for the DMK and Chief Minister Stalin in political terms. The electoral fall-out, if any, will have to wait until the next summer, only when assembly elections are due in the state, explains N Sathiya Moorthy.
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The Supreme Court on Thursday upheld a Madras high court order allowing Edappadi K Palaniswami to continue as interim general secretary of the All India Anna Dravida Munnetra Kazhagam, establishing his position as the single, supreme leader of the party.
A division bench of the Madras high court on Thursday dismissed a contempt application seeking to punish former Chief Minister and All India Anna Dravida Munnetra Kazhagam leader Edappadi K Palaniswami and his supporters for alleged non-implementation of its earlier orders.
The Supreme Court on Monday said that it would hear on July 6 a plea filed by former Tamil Nadu Chief Minister Edappadi K Palaniswami challenging the Madras high court order staying the passing of any unannounced resolutions in the meeting of the All India Anna Dravida Munnetra Kazhagam general and executive councils concerning the issue of single leadership of the party.
Asserting that the dharma yudham is on, Panneerselvam, popularly known as OPS said he and his followers would go to the people to seek justice.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
News reports that GE Aerospace has delivered the first of 99 F404-IN20 engines ordered by Hindustan Aeronautics (HAL) for the Tejas Mk-1A has revived interest in the HAL stock.
The revived factionalism in the AIADMK, if not curbed now, has the potential to split the party vertically, warns N Sathiya Moorthy.
Unless Governor Ravi or the Union of India moves in appeal, seeking a hearing by a constitutional Bench, this is where it all will have to end, observes N Sathiya Moorthy.
Without strategising together, Jayalalithaa's successor, Chief Minister Edappadi K Palaniswami, and M Karunanidhi's son-cum-successor, M K Stalin, have used tough-talking on seat-sharing with allies, to replace charisma that they purportedly lacked, during the run-up to the assembly polls scheduled for April 6, says N Sathiya Moorthy.
Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
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Buying stocks during a dip, says Amar Nandu, research analyst, Samco Securities, can lead to higher compounding returns when the uptrend begins.
'Geopolitics will be the most important driver of financial markets in 2025.'
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'Both are mature enough to realise that a break will not benefit either of them and both will be losers'
Shares of Tata Consultancy Services (TCS), the country's largest IT services provider, continue to remain under pressure, hitting a new eight-month low of Rs 3,624.90 intraday on Tuesday before closing at Rs 3,631, down 1.19 per cent. In the past two trading sessions, the stock price has declined 4 per cent on fears of a slowing US economy.
In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services. High teens earnings per share or EPS growth is expected for the next two-three financial years. The hopes are backed by deal wins of above $100 billion as at Q1FY25, up 16.6 per cent year-on-year ( Y-o-Y).
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.
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.
As the Indian equity markets scale a new high, the gap between stock prices and the underlying corporate earnings has widened to its highest level in more than 30 years. At its current level, the benchmark BSE Sensex has run up nearly 31 per cent more than the growth in its underlying earnings per share (EPS) in the past 20 years. Most of the divergence between share prices and underlying earnings growth occurred in the past 10 years.
Delhivery share price dropped 6.6 per cent to a low of ?295.8 per share on the BSE on Monday after analysts cut their earnings estimate on the stock, following weak results for the December quarter (Q3) of the current financial year (FY25). Q3 is a seasonally strong quarter due to festive pick-up in demand.
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.
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 pre-sales volume of Godrej Properties (GPL) for third quarter of the financial year 2025 (Q3FY25) declined 6 per cent year-on-year (Y-o-Y) -- down 21 per cent quarter-on-quarter (Q-o-Q) -- to 4.1 million square feet (msf), resulting in a pre-sales value of Rs 5,450 crore, down 5 per cent each Y-o-Y and Q-o-Q. About 77 per cent came from newly launched projects. For 9MFY25, pre-sales were up 48 per cent Y-o-Y to Rs 19,300 crore.
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.
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.
'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.
Despite the equity booster, many would be uncomfortable about NPS.
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.
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.
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.
Palaniswami currently helms the party founded by the charismatic M G Ramachandran and nurtured by the redoubtable J Jayalalithaa.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
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.
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.
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