Equity indices on upward climb, auto and metal stocks shine

Agencies
February 8, 2021

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Mumbai, Feb 8: Equity benchmark indices closed over one per cent higher on Monday amid upbeat news on corporate earnings, economic data and updates on vaccination drive.

Market experts said foreign portfolio investors have continued to buy Indian securities as the Union Budget 2021 sparked a strong rally, and there seems to be no reason for them to slow down.

The BSE S&P Sensex closed by 617 points or 1.22 per cent at 51,349 while the Nifty 50 edged higher by 192 points or 1.28 per cent to 15,116.

Except for Nifty FMCG and PSU bank which dipped slights, all other sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 3.2 per cent, metal by 3.1 per cent, IT by 2.1 per cent, realty by 2 per cent and private bank by 1 per cent.

Among stocks, Mahindra & Mahindra moved up by 7.3 per cent to Rs 929.20 per share while Tata Motors accelerated by 6.4 per cent to Rs 336.15.

Metal stocks too gained substantially with Hindalco moving up by 6.1 per cent and JSW Steel by 3.4 per cent.

The other major gainers were GAIL, Adani Ports, Bajaj Finserv, Infosys and Bharti Airtel. However, those which lost were Britannia, Hindustan Unilever, Bajaj Finance, Bajaj Auto, Cipla and Sun Pharma.

Meanwhile, Asian shares were near record highs on hopes a 1.9 trillion dollar Covid-19 aid package will be passed by US lawmakers later this month when coronavirus vaccines are being rolled out globally.

Japan's Nikkei jumped by 2.12 per cent, the highest level since August 1990, as strong corporate earnings lifted investor confidence for economic recovery from pandemic lows.

The Shanghai Composite crawled up by 1.03 per cent and Hong Kong's Hang Seng by 0.11 per cent.

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News Network
October 3,2024

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Bengaluru: The Karnataka Food Safety and Quality Department has issued an urgent warning following the discovery of potentially cancer-causing chemicals in cakes sold by certain bakeries across the state.

Recent tests conducted by the department revealed that some cake samples, particularly those with vibrant colors, contain harmful synthetic coloring agents such as Allura Red, a substance known to pose health risks. The findings have raised concerns about the use of artificial colors in bakery products, especially given their potential link to cancer and other serious health conditions.

"We routinely test various food products, and this time, our officials noticed unusually dark-colored cakes on the market," said Srinivas K, Commissioner of Food Safety for Karnataka. "Upon testing, we found that a few cakes contained Allura Red, a synthetic dye associated with health risks."

The use of artificial colors, especially in popular cakes like red velvet and pineapple varieties, is widespread as it attracts customers, particularly children. However, many bakers prefer using natural, safer alternatives, while some opt for synthetic dyes to enhance the cake's visual appeal.

"Most bakeries use permissible, natural colors that are safe for consumption. Unfortunately, a few are resorting to synthetic dyes just to make their cakes more attractive," said a bakery owner from Electronic City, speaking anonymously.

Medical experts are warning that consuming synthetic colors can lead to numerous health issues, including asthma and allergic reactions.

"Some of these artificial dyes are carcinogenic, and prolonged exposure could have serious consequences, especially for children and young adults," cautioned Dr. Vandana G, a private medical practitioner.

While the Food Safety and Standards Authority of India (FSSAI) confirms that only a limited number of samples tested positive for harmful colors, legal action is being taken against the violators.

"There is no need for widespread panic or halting production. We are closely monitoring the situation, and only a few bakeries were found to be non-compliant. Rest assured, appropriate legal measures are underway," assured an FSSAI official. 

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News Network
October 1,2024

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Mysuru, Oct 1: The Karnataka Lokayukta team on Tuesday arrived at the disputed plot in Mysuru and began investigation into the MUDA case against CM Siddaramaiah and his wife, news agency ANI reported. Snehamayi Krishna, the complainant in the case was also present with the team.

Sources stated that ED sleuths might issue a notice to CM Siddaramaiah at any time and issue summons to him for questioning. The sleuths are also keenly watching the movements of CM Siddaramaiah’s close associates and relatives, including a cabinet minister in connection with the MUDA scam.

Sources further said that there is a possibility of the ED conducting raids across the state on offices and residences of close associates of CM Siddaramaiah. The ED has also gathered information on bank accounts and financial transactions of CM Siddaramaiah and his associates.

The Directorate of Enforcement (ED) on Monday registered an Enforcement Case Information Report (ECIR), equivalent to an FIR by the police, against CM Siddaramaiah over the alleged irregularities in the allotment of 14 sites to his wife Parvathi B.M. by the Mysore Urban Development Authority. The ED registered the case taking cognisance of the FIR registered against the Chief Minister by the Lokayukta police on September 27.

Meanwhile, the Karnataka Lokayukta probing the MUDA case has also expedited the probe. The sleuths led by Mysuru Lokayukta SP T.J. Udesh have visited the controversial land on the outskirts of Mysuru city. The petitioner, Snehamayi Krishna, also accompanied the team.

The move of Chief Minister Siddaramaiah’s wife to return 14 sites allotted by the MUDA to her has triggered a debate. BJP MLA from Mysuru T.S. Srivatsa stated on Tuesday that the move of CM’s wife is not acceptable. "The two commissioners who colluded in the MUDA scam are roaming freely even today," he said.

"CM Siddaramaiah first claimed that there was no scam at all. Later, he formed a commission and now there is an FIR against him. After committing the mistake, you offer to return the sale deed. The time is up. He will have to tender his resignation and I am sure he won’t be in the position until Dasara festivities," MLA T.S. Srivatsa stated.

T.J. Abraham, one of the petitioners in the MUDA case said, “I had demanded the MUDA commissioner to take back the allotted sites. He had written back saying the process would be initiated. They were waiting for the investigation report."

"CM Siddaramaiah has not approached the division bench or the Supreme Court to challenge the order against him because there is nothing to be challenged. Returning sites is not a big sacrifice. The Chief Minister has lost it," Abraham stated. 
 

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News Network
October 4,2024

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According to a report, American multinational technology conglomerate Meta is restricting the use of the upside-down red triangle emoji, which has become a broader symbol of Palestinian resistance.

Meta is restricting the emoji on its Facebook, Instagram, and WhatsApp platforms, The Intercept reported on Thursday after reviewing internal content moderation materials.

Since the beginning of Israel’s genocidal war on Gaza, the resistance movement Hamas has regularly released footage of its successful strikes on Israeli military positions with red triangles superimposed above targeted soldiers and armor, the report said.

The use of the red triangle emoji has expanded online since October last year, becoming a widely used icon for people expressing their sentiments in favor of Palestine and against Israel.

Social media users use the emoji in their posts, usernames, and profiles as a badge of solidarity and protest against Israel’s crime against Palestinians.  

The symbol has become so popular that the Israeli military has used it in its own propaganda.

In November, an Israeli military video that warned “Our triangle is stronger than yours, Abu Obeida,” addressing Hamas’s spokesperson, Al Jazeera reported.

Meta, which owns Facebook and Instagram, has determined that the upside-down triangle emoji is a proxy for support for Hamas, according to internal policy guidelines obtained by The Intercept.

Meta is deleting the triangle that may be followed by further disciplinary action from the company depending on how severely it assesses its use.

According to the policy materials, the ban covers contexts in which Meta decides a “user is clearly posting about the conflict and it is reasonable to read the red triangle as a proxy for Hamas and it is being used to glorify, support or represent Hamas’s violence.”

Israel has killed at least 41,700 Palestinians, mostly women and children, in Gaza since October 2023. In Lebanon, the death toll has risen to more than 1,840 with 8,400 wounded.

The Israeli war machine ignited its genocidal campaign by targeting helpless Palestinians trapped in the Gaza Strip in October.

It was after the Palestinian resistance movement Hamas conducted surprise Operation Al-Aqsa Storm against the occupying entity in response to the regime's decades-long campaign of bloodletting and devastation against the Palestinians.

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