PM Modi wins Varanasi for 3rd time; Congress' Ajay Rai loses by 1.5 lakh votes

News Network
June 4, 2024

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New Delhi: Prime Minister Narendra Modi has won the Varanasi Lok Sabha seat for a third time. Mr Modi has beaten the Congress' Ajay Rai by over 1.5 lakh votes. In third place was the Bahujan Samaj Party's Ather Jamal Lari, who finished nearly 5.8 lakh behind the Prime Minister.

The party has won this seat nine times since 1991, with only RK Mishra of the Congress, in 2004, breaking that streak. And it was, for some time, another Congressman who raised opposition hopes.

Earlier today Mr Rai - who has contested and lost each of the past three general elections from the temple town - threatened (briefly) to cause, perhaps, the biggest shock in Indian electoral history.

Initially Mr Rai was leading the Prime Minister by 6,223 votes. As the day wore on, though, the PM stretched his legs and disappeared into the distance, finishing with over 6.12 lakh votes.

However, delight over the Prime Minister's win is likely to be tempered by the BJP's less-than-stellar performance across the state in this election, despite having dominated its electoral politics since 2014, when a 'Modi wave' swept UP (and the country) and corralled 61 of its 80 Lok Sabha seats.

Since then the BJP has been nearly unbeatable in UP.

That was followed by a Yogi Adityanath-led BJP scripting a stunning revival at the state level - by winning 312 of the state's 403 Assembly seats. In 2012 the BJP had won only 47 seats.

Yogi Adityanath claimed a second term in 2022, despite the party being heavily criticised over the farmers' protests. And, before that, the BJP amassed 62 seats in the 2019 general election.

The 2024 Lok Sabha election in UP was expected to be no different, at least according to exit pollsters, who handed Mr Modi's party a big win. A poll of exit polls gave the BJP 68 seats.

The Congress-led INDIA bloc was only expected to get 12 seats.

The reality, though, has been starkly different.

Driven by Akhilesh Yadav's Samajwadi Party, the INDIA group has gone head-to-head with the BJP in UP and will, most likely, finish a distant second - an unthinkable result before today.

The SP is set to win 38 seats - a record haul for the party in Lok Sabha polls - if the numbers hold, while the Congress will win seven. Crucially, the Congress is set to win back the Amethi bastion it lost to the BJP's Smriti Irani five years ago; the outgoing Union Minister had beaten Rahul Gandhi.

However, it is not Mr Gandhi who will gain revenge for the Congress.

It will be Kishor Lal Sharma, after Rahul Gandhi opted to contest the Raebareli seat - in addition to defending his Wayanad seat - left vacant by his mother Sonia Gandhi's shift to the Rajya Sabha.

Mr Gandhi is en route to massive wins from both seats.

The turnaround in UP is the story of the day and underlines the INDIA bloc's surprising challenge to the BJP, which includes tight contests in two other battleground states - Bengal and Maharashtra.

In Bengal Mamata Banerjee's Trinamool fought off an early surge from the BJP and is likely to improve on its haul of 22 (of 42) seats from the 2019 election. More importantly, it will knock back the BJP in the eastern state, from which much was expected after a record haul of 18 last time.

Meanwhile, in Maharashtra the Maha Vikas Aghadi, despite being rocked by splits within the Shiv Sena and Sharad Pawar's NCP, has dominated. The MVA, which also includes the Congress, is on course to win 29 of 48 seats in a state in which the BJP was hoping to make big gains.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 12,2024

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The Palestinian Hamas resistance movement says its fighters have killed at least 20 Israeli soldiers in northern parts of the besieged Gaza Strip in just two days, in retaliation for the occupying regime’s genocidal war on the Palestinian territory.

In a statement on Monday evening, Hamas said that fighters of its military wing, al-Qassam Brigades, “killed at least five occupation soldiers” in northern parts of the coastal territory earlier in the day.

It added that Hamas fighters also killed 15 Israeli soldiers in the war-ravaged region on Sunday.

The resistance movement’s “qualitative operation … confirms once again the failure of the criminal Zionist entity to suppress and eradicate the Palestinian resistance, which continues to direct qualitative strikes against its terrorist soldiers,” Hamas further said on its Telegram channel.

Palestinians have increased their resistance operations in the face of intensified Israeli aggression in northern Gaza that has claimed the lives of more than 1,000 over the past weeks.

“Our valiant resistance is waging a war of attrition with the criminal enemy, inflicting daily losses on its soldiers and vehicles, and all of [Israeli prime minister Benjamin] Netanyahu’s bets and dreams of achieving any of his goals are failing,” the Gaza-based resistance movement added.

Hamas also vowed that Israel’s ongoing crimes and aggression against Gaza would be met with increased resistance and painful strikes, which will continue until the aggression against Palestinians ends and the regime fully withdraws from the blockaded territory.

As the war in Gaza enters its 14th month, the Health Ministry reports that Israeli attacks have killed at least 43,603 Palestinians and wounded 102,929 others.

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News Network
November 18,2024

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Mangaluru: The Ullal police have arrested Manohar, the owner of Vazco Beach Resort, and its manager Bharath in connection with the drowning of three college girls from Mysuru at the resort’s swimming pool on November 17.

City Commissioner of Police Anupam Agrawal confirmed the arrests, stating that a case has been registered under Section 106 of BNS. The bodies of the victims, all in their twenties, have been handed over to their parents. The women had arrived at the resort for a weekend getaway on November 16.

Following the tragic incident, the resort was sealed by officials led by Mangaluru Assistant Commissioner Harshavardhan. The trade license of the resort, issued on June 13, 2024, has been suspended, and the tourism department has temporarily revoked the resort's registration. These actions prohibit the resort from engaging in any tourism-related activities until further notice.

Someshwara TMC Chief Officer stated that the suspension was due to the resort's failure to implement adequate safety measures, which resulted in the loss of three lives. Further investigations are underway.

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