Massive jump in stock market after exit polls predict big BJP win; Adani Ports, Adani Enterprises among top performers

News Network
June 3, 2024

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The share market has posted a massive jump in the early trade, banking on the hopes of political stability as predicted by the exit polls. The 30-share Sensex rallied over 2,000 points this morning while the 50-stock Nifty recorded its biggest jump in four years during the market opening.

Both Sensex and Nifty, the indexes of the Bombay Stock Exchange and the National Stock Exchange, hit their record high levels today. All Sensex and Nifty stocks are now in the green.

At pre-open, Nifty surged over 800 points or 3.58% to 23,227.90 while the Sensex jumped 2,621.98 points or 3.55% to 76,583.29.

Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC are among the top performers that led the market rally with significant gains. The latest GDP data suggesting a robust 8.2% fiscal growth also bolstered the market sentiment. 

"Buoyant sentiments are driven by India's impressive Q4FY24 GDP growth of 7.8 per cent, surpassing expectations, with the fiscal year's growth standing at 8.2 per cent," said Varun Aggarwal, founder and managing director of Profit Idea. He also cautioned that the market will remain volatile in anticipation of the results pending tomorrow.

An aggregate of 12 exit polls on Saturday predicted the BJP will return to power with the ruling NDA alliance with 365 seats. A party or an alliance needs at least 272 seats to form government in the country. The market prefers political stability and a change in government usually risks volatility in the share market, according to analysts. 

The exit polls have also predicted that the BJP is set to break ground in Kerala and Tamil Nadu in the south, and make large gains in Odisha and Bengal in the east. There is, however, a health warning: exit polls do not always get it right. 

While the BJP has welcomed the exit poll predictions, the Opposition has dismissed the forecast and said the counting day will throw a completely different picture. Following a meeting of the Opposition leaders part of the INDIA bloc, Congress chief Mallikarjun Kharge Saturday said that the bloc will win at least 295 seats out of the total 543.

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News Network
October 21,2024

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Khalistani terrorist Gurpatwant Singh Pannun on Monday warned passengers not to fly on Air India flights from November 1 to 19. He asserted that an attack could take place on an Air India flight during the specified dates, which coincide with the "40th anniversary of the Sikh genocide".

The founder of Sikhs for Justice (SFJ), who holds dual citizenship in Canada and the US, had issued a similar threat around the same time last year.

Pannun's fresh threat comes amid several airlines in India receiving multiple threat calls about potential bombings, all of which turned out to be hoaxes. It also occurred at a time when India and Canada are engaged in a murky diplomatic row following Canada's allegations of India targeting Khalistani elements in the country, including the murder of another terrorist, Hardeep Singh Nijjar.

In November 2023, Pannun released a video claiming that Delhi's Indira Gandhi International Airport would be renamed and would remain closed on November 19, warning people against flying on Air India that day. The National Investigation Agency charged him with criminal conspiracy, promoting enmity between different groups on the grounds of religion, and various offences under the Unlawful Activities (Prevention) Act (UAPA).

In December last year, Pannun threatened to attack the Parliament on or before December 13, following reports of an alleged foiled plot to kill him. December 13 marks the anniversary of the terrorist attack on the Parliament in 2001.

He also threatened to kill Punjab Chief Minister Bhagwant Mann and Director General of State Police Gaurav Yadav on Republic Day this year. He also urged gangsters to unite and launch an attack on Mann on January 26.

Pannun has been designated a terrorist by the Ministry of Home Affairs since July 2020 on charges of sedition and secessionism, as he leads SFJ, a group advocating for a separate sovereign Sikh state. A year prior to this, India banned SFJ as an "unlawful association" for engaging in "anti-national and subversive" activities.

In another development, on October 17, the United States charged a former officer of India's spy agency Research and Analysis Wing (RAW) for allegedly directing a foiled plot to murder Pannun, a charge New Delhi has rejected as baseless allegations.

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Media Release
October 17,2024

 

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Jeddah: The Khaja Banda Nawaz College of Engineering Alumni Jeddah Chapter hosted its Annual Event 2024, bringing together a diverse group of alumni from the esteemed KBN College of Engineering, Gulbarga.

The event featured Engr. Mohammed Abdul Nayeem, General Manager of MASAH Specialized Construction Company, as the Chief Guest, alongside Guests of Honor Engr. Syed Nasir Khurshid, Advisor to the KBNCE Alumni, and Mr. Abdul Majeed Badruddin, Managing Director and CEO of Universal Inspection Company. Presiding over the ceremony was Engr. Saleh bin Ali, President of the Alumni Chapter.

Engr. Nayeem, in his keynote address, shared his inspiring journey to the top of the construction industry, urging attendees to embrace challenges and strive for excellence. He praised the KBN Education Society for its visionary leadership, which has empowered countless alumni to become successful engineers. He also honored the legacy of the late Sajjade Saheb Syed Shah Mohammed ul Hussaini, recognizing his dedication to community empowerment through education.

Engr. Syed Nasir Khurshid commended Engr. Nayeem's significant achievements and entrepreneurial success, urging young alumni to follow in his footsteps. He also lauded Mr. Badruddin for his contributions to the community and ongoing support of the alumni chapter, encouraging attendees to consider Universal Inspection Company's services for their projects. Engr. Khurshid further asked the attendees to pray for the health of Mr. Khusro Hussaini, the Sajjada Nasheen and Chairman of the KBN Society, and acknowledged the support of Madam Ruksar Fatima, Dean of KBN University, and Chancellor Mr. Ali Hussaini.

Mr. Abdul Majeed Badruddin, renowned for holding multiple world records, shared insights into his entrepreneurial journey, including the expansion of his company to Madinah Al-Munawwara. His emphasis on morning prayers and self-confidence struck a chord with the audience.

Engr. Saleh bin Ali spoke about the remarkable growth of the KBN Education Society, which has evolved from a girls' school in 1956 to a prestigious university ranked 5th in Karnataka and 31st in India among private universities, according to the 2024 Outlook survey. He encouraged alumni to contribute actively to their fields and embrace continuous upskilling in an ever-changing world.

The event was seamlessly hosted by Alumni General Secretary Engr. Amjad Ali, beginning with a Quran recitation by Hafiz Mohammed Hamad and a welcoming address by Alumni Vice President Engr. Mohammed Yahiya. Engr. Syed Mohiuddin, another Alumni Vice President, stressed the importance of staying connected with the alumni network. Chief Coordinator Engr. Mohammed Aejaz Uddin outlined the alumni’s achievements, emphasizing the role of emotional intelligence in the workplace, while Engr. Mohammed Abdul Ameed provided valuable career advice, and Engr. Mohammed Mujtaba Yaseen shared tips for financial freedom.

A special presentation by Engr. Abdul Bari, Head of PMO at MASAH Construction Company, highlighted innovations in the construction industry. The event concluded with heartfelt thanks from Alumni Treasurer Engr. Abubakr Bin Hussain, followed by a group photo session, capturing the unity and collaborative spirit of the alumni.

The Annual Event 2024 was a resounding success, inspiring attendees and strengthening the bonds within the KBN alumni community.

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News Network
October 16,2024

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A Bengaluru-bound Akasa Air flight and Delhi-bound IndiGo flight received bomb threats on Wednesday, taking the number of such threats to 12 in three days.

An Akasa Air spokesperson said the flight QP 1335 had 177 persons, including 3 infants, and seven crew members on board. The flight returned to Delhi.

Meanwhile, IndiGo's 6E 651 Mumbai-Delhi flight was redirected to Ahmedabad. The aircraft was isolated, and all passengers were safely disembarked, an IndiGo Spokesperson said.

Apart from an Air India Delhi-Chicago flight, the Dammam-Lucknow IndiGo flight, Ayodhya-Bengaluru Air India Express, a SpiceJet flight from Darbhanga to Mumbai (SG116), an Akasa Air flight from Bagdogra to Bengaluru (QP 1373) an Alliance Air Amritsar-Dehradun-Delhi flight (9I 650) and an Air India Express flight (IX 684) from Madurai to Singapore received bomb threats on Tuesday.

On Monday, two IndiGo and one Air India flight received hoax threats. These included an Air India flight AI119 from Mumbai to New York's JFK Airport, and IndiGo flight 6E1275 bound for Muscat, and flight 6E56 heading to Jeddah.

A Parliamentary Standing Committee met at 11 am over the issue. This was preceded by a meeting called by Civil Aviation Minister Ram Mohan Naidu with Civil Aviation Ministry and DGCA officials.

According to sources some culprits have been identified and the dark web is also being monitored.

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