Equity markets will keenly track outcome of the US Federal Reserve policy meeting this week amid heightened expectations of an interest rate cut along with WPI inflation data, analysts said. Any further development on the USndia trade front would also drive trends in the equity market, experts said.
The Madras High Court has directed the Tamil Nadu police to file a case against state Forest Minister K Ponmudy, following his recent controversial remarks about Shaivism and Vaishnavism. The court warned the police that if they do not register an FIR against the DMK leader, it will initiate suo motu contempt proceedings.
Most pharma shares dropped, dragging the BSE Healthcare index down by 2.14 per cent after Trump's move to impose 100 per cent import tariffs on pharmaceutical drugs from October 1. Wockhardt shares tanked 9.4 per cent.
From the Sensex firms, Tata Motors jumped the most by 5.54 per cent, followed by Kotak Mahindra Bank, Trent, Sun Pharma, Axis Bank, and ICICI Bank. However, Bajaj Finance, State Bank of India, UltraTech Cement and Tata Steel were among the laggards.
Tamil Nadu Ministers V Senthil Balaji and K Ponmudy have resigned from the M K Stalin-led state cabinet. Senthil Balaji, facing an ED probe, was asked by the Supreme Court to choose between his post and freedom, while Ponmudy courted controversy over his Shaivite-Vaishnavite remarks. The Governor has accepted their resignations and a new minister will be sworn in on Monday.
'I wasn't just racing, I was paving the way for others.'
Over the medium and long term, the BJP hopes to devour the AIADMK, they having identified the party as 'ideologically not as sound as the DMK', predicts N Sathiya Moorthy.
Intense rains lashed Kerala on Sunday, uprooting trees across the state, including one that fell on a moving train in Thrissur and another that caused a fatality in Kozhikode. Houses were damaged, rivers were in spate, and shutters of some dams were raised as the southwest monsoon gained strength. The Indian Meteorological Department (IMD) placed five northern districts - Malappuram, Kozhikode, Wayanad, Kannur, and Kasaragod - under a 'red alert' for the day, predicting extremely heavy rainfall there.
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.
The Supreme Court on Monday agreed to consider a plea of the Tamil Nadu government against the refusal of Governor RN Ravi to appoint senior DMK leader K Ponmudi as a minister in the state cabinet.
'Mr Attorney General, we are seriously concerned about the conduct of the governor. We did not want to say it out loud in court, but he is defying the Supreme Court of India.'
As the devastating landslides ravaged a hilly area of Wayanad, leaving a trail of destruction and chaos in their wake, a group of ham radio enthusiasts rose to the challenge, establishing a critical communication network that has helped save lives and facilitate rescue efforts.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
Amid a growing chorus in the party for his elevation, Tamil Nadu sports minister and son of Chief Minister M K Stalin, Udhayanidhi, was elevated as the deputy CM on Saturday with additional responsibility, in a cabinet reshuffle that saw the return of V Senthil Balaji to the council of ministers two days after securing bail in a money laundering case.
After making landfall near Puducherry on November 30, Cyclone Fengal weakened on Sunday, but torrential downpour under its influence paralysed the union territory, with the Army stepping in to evacuate stranded persons in inundated streets.
"The DMK is not worried a wee bit," he said on the ED searches. Such an action by the ED was 'usual, ordinary and a drama' enacted to divert attention.
Balaji was arrested on June 14 last year by the ED in connection with a money laundering case linked to an alleged cash-for-jobs scam when he was the transport minister in an earlier AIADMK government.
Already, there is a feeling even within the BJP's AIADMK ally that the BJP is overdoing things on the ED/I-T front, as corruption is not an election issue in the state -- as long as the people are otherwise not excessively unhappy with the governing party, points out N Sathiya Moorthy.
Justice BV Nagarathna said she had to dissent against the demonetisation move by the central government as in 2016, when the decision was announced, the Rs 500 and Rs 1,000 notes comprised 86 per cent of the total currency notes in circulation, and 98 per cent of it came back after they were banned.
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
Alleging Hindi imposition through NEP 2020, the Tamil Nadu government has already said the two-language policy, comprising Tamil and English, will continue to remain in practice.
Kharge's comments were a reference to the prime minister's remarks in February in Rajya Sabha wherein he had asserted that he alone outweighs all those who take turns to shout slogans to oppose him.
Justice N Anand Venkatesh, who holds the portfolio for MP/MLA cases in the state, took up the cases against senior ministers Thangam Thennarasu and his wife and KKSSR Ramachandran and his spouse and also a friend of the DMK leader.
After a photoshoot with the artistes, the CM settled down for tea with the Governor.
The ruling DMK has already announced it will file a review petition against the November 8 five-judge Supreme Court bench upholding the 10 per cent reservation for the Economically Weaker Sections.
Tamil Nadu Governor R N Ravi on Friday re-allocated the portfolios held by arrested state Minister V Senthil Balaji, on the recommendations of Chief Minister M K Stalin but "has not agreed" to the minister continuing in the cabinet, the Raj Bhavan said.
Stalin still enjoys a lot of sympathy and empathy as someone wishing well for the state, but not full-throated support as in 2019 and 2021, notes N Sathiya Moorthy.
Stalin said that even in Gujarat the vice-chancellors are not appointed by the governor but the State.
Udhayanidhi, the 45-year old actor-producer is hailed as the "rising sun" by DMK workers, in obvious reference to the party's Rising Sun symbol.
'They are trying to destroy the culture and trying to impose Manu Dharma through Hindi'
With this kind of coinage, the Opposition seems to be readily conceding the point that Modi is taller than all of them put together. So they need something bigger than themselves, collectively or not, to capture the voter imagination when it is about taking on Modi and the BJP in 2024, points out N Sathiya Moorthy.
A red alert was declared in 8 districts of Kerala on Thursday by the India Meteorological Department (IMD) as rains continued to lash various parts of the state and disrupted the day-to-day lives of the people as roads got flooded or caved in and many got displaced from their homes to relief camps.
In a statement, it said 198 properties in the state were partially damaged and 30 houses completely destroyed in the rains from July 31 to till date.
Stalin called on Ravi at the Raj Bhavan here and urged him to expeditiously send the Bill to exempt Tamil Nadu from the purview of the National Eligibility cum Entrance Test for getting Presidential assent, an official release said.
Forget Munnar and Manali, these places in India are worth your time.
The IMD also issued a red alert in the same 10 districts for August 3 also.
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
Former Tamil Nadu Minister K Ponmudi is the fourth former minister after Veerapandi S Arumugam (Salem), K N Nehru (Tiruchirappalli) and N K K P Raja (Erode) to be arrested on land grabbing charges in the crackdown launched by the Jayalalithaa Government on land grabbing.
The party unanimously elected veteran Duraimurugan as general secretary and senior leader T R Baalu as treasurer. Former Telecom Minister A Raja and seasoned party leader K Ponmudi were elected as deputy general secretaries.
Dravida Munnetra Kazhagam President M K Stalin will try his luck once again from Kolathur constituency in Chennai in the April 6 Tamil Nadu assembly elections while his son Udhayanidhi will make his electoral debut by contesting from the Chepauk-Triplicane segment in the metropolis.
