Equity indices volatile, Reliance plunges 3.7 pc

Agencies
January 25, 2021

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Mumbai, Jan 25: Equity benchmark indices swayed between gains and losses during early hours on Monday while their Asian peers were on an upward trajectory.

At 10:15 am, the BSE S&P Sensex was down by 46 points or 0.09 per cent at 48,833 while the Nifty 50 edged lower by 13 points or 0.09 per cent to 14,359.

Most sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank, IT and realty dipping by 0.8 per cent each, auto by 0.7 per cent and metal by 0.5 per cent.

Among stocks, Reliance Industries cracked by 3.7 per cent to Rs 1,973.90 per share after reports said the Mukesh Ambani-led conglomerate has spined off of the oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships.

At the same time, it saw its profit jump 12.5 per cent to Rs 13,101 crore during the quarter ended December.

The other prominent losers were Asian Paints, Tata Motors, Nestle India, ITC, HCL Technologies, IndusInd Bank and Eicher Motors.

However, Grasim gained by 4.5 per cent to Rs 1.049.35 per share. UPL, UltraTech Cement, Bajaj Finance and JSW Steel too trade with a positive bias.

Meanwhile, Asian shares rose as concerns over rising Covid-19 cases and delays in vaccine supplies were eclipsed by expectations of a 1.9 trillion dollar fiscal stimulus plan to help revive the US economy.

MSCI's broadest index of Asia Pacific shares outside Japan rose slightly. Japan's Nikkei rebounded from falls in early trading to be up by 0.36 per cent.

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News Network
February 11,2025

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Dubai: The Consulate General of India in Dubai recently awarded Aim India Forum with an appreciation award in recognition of its significant contributions to the Indian community in the UAE.

In September 2024, the UAE government launched an amnesty initiative aimed at promoting respect for the law, tolerance, compassion, and social cohesion. This initiative allowed individuals who chose to leave the country during the amnesty period to do so without facing overstay fines, exit fees, or entry bans, while retaining the right to re-enter the UAE at any time.

Aim India Forum was invited to collaborate with the Indian Consulate during this amnesty period. Our Founder President, Shirali Shaikh Muzaffer, accepted the invitation and dedicated four months to this important initiative. Alongside other community organizations, including DUBAI KMCC, IPF UAE, FOI UAE, and others, Aim India Forum worked tirelessly to support fellow Indian nationals in need.

His Excellency Satish Kumar Sivan, Consul General of India, acknowledged and congratulated Founder President Shaikh Muzaffer and Board Member Mohammed Niyaz for their unwavering dedication and efforts throughout this project.

The Aim India Forum played a pivotal role in the safe repatriation of distressed and stranded Indian citizens in the UAE. An amnesty help desk was set up at the Indian Consulate to assist those seeking amnesty. This desk offered a range of services at no cost, including Emergency Certificates (one-way travel documents), labor cancellation, case clearance, and the issuance of exit permits/outpasses. Through these efforts, the Consulate General of India in Dubai successfully assisted 15,000 Indian nationals.

In partnership with various Indian diaspora organizations, CGI Dubai facilitated the issuance of 2,117 passports, 3,589 emergency certificates, and supported the acquisition of over 3,700 exit permits. Many individuals also benefitted from our guidance in securing fee and penalty waivers from UAE authorities.

As this operation concludes, we extend our deepest gratitude to the UAE Government for its unwavering support. We also wish to express our sincere thanks to the dedicated volunteers from diaspora organizations who played an instrumental role in the success of this initiative.

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News Network
February 6,2025

Mangaluru: A man has reportedly lost ₹13 lakh after falling victim to an online trading scam. The incident began on December 14, 2023, when he received a WhatsApp message adding him to a group named "VIP3 Global Securities Official Stock Community."

The message introduced Ajay Garg as the director and CEO of SMC Group, claiming he was participating in an international stock returns competition and urging members to vote for him. The group also provided stock market investment guidance and encouraged users to open an SMC Global Securities Trading Account to access IPO stocks.

Upon inquiring in the group, the complainant was contacted by an individual claiming to be an international customer service representative at SMC Global Securities. This person, later identified as Vandana Bharti from the Institutional Brokerage, claimed she could secure high-value IPO stock allotments. The complainant was instructed to download the SMC Global Securities Trading App using a specific link, which promised 30 days of free VIP trading advice and stock market insights. He registered on the app using his PAN and mobile number and began applying for IPO stocks.

Initially, the complainant was allotted ₹15,000 worth of IPO stocks from Dam Capital Advisers Limited. The scammers claimed that ₹5,000 was covered by the company, requiring him to pay only ₹10,000, which he transferred on December 25. Soon after, he was allotted ₹1.4 lakh worth of IPO stocks from Anya Polytech & Fertilisers and was pressured to pay immediately. On December 31, he transferred the amount.

The scammers continued assigning higher-value IPO stocks, eventually allotting ₹9.9 lakh worth of stocks from Standard Glass Lining Technology Limited. When the complainant expressed an inability to pay, he was pressured into taking a ₹9 lakh loan via a mobile lending service.

On January 20, he attempted to withdraw ₹1 lakh from the SMC Global Securities Trading App to check if funds could be recovered. The withdrawal was processed successfully the same day, reinforcing his trust in the platform. However, subsequent attempts to withdraw funds were unsuccessful, and the complainant realized he had been defrauded.

Authorities are investigating the incident and cautioning the public to be vigilant against such fraudulent schemes.

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coastaldigest.com news network
February 14,2025

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In a tragic turn of events, a non-resident Indian from Beltangady taluk in Dakshina Kannada, who was eagerly anticipating his return home, passed away in Saudi Arabia just hours before his scheduled journey back. The news has left his family, friends, and the entire community in deep mourning.

A Final Call Filled with Joy and Excitement

On Thursday, February 13, brimming with excitement and joy, Hidayath called his dear friend Rafiq, asking him to pick him up from Mangaluru International Airport on Friday morning. The anticipation of reuniting with loved ones after a long time was palpable in his voice. He was set to depart from Jeddah on a 10:30 pm flight, with a promise of a new dawn back home.

A Sudden Turn of Fate

However, fate had a different plan. Upon reaching Jeddah Airport, an unexpected chest pain struck Hidayath. Despite being rushed to a nearby hospital, the efforts to save him were in vain. The joyful anticipation of his return turned into an incomprehensible loss.

A Man of Talent and Dreams

Hidayath, known for his melodious singing, had initially moved to Bahrain for work before relocating to Saudi Arabia, where he worked for a cargo company. His journey was fueled by dreams and aspirations, driven by the hope of a better future for his family.

An Irreplaceable Loss

He leaves behind his grieving father Abdul Raqaq, his loving mother Shamshir Banu, his devoted wife Reshma, one son, three daughters, and countless family members and friends who cherished him. The void left by his absence is indescribable and his memories will forever be etched in their hearts.

Bringing Him Home

Efforts are underway to bring Hidayath’s mortal remains back to his hometown. His childhood friend and SDPI district secretary, Akbar Beltangady, is coordinating with authorities to ensure he makes his final journey back to the land he loved, where his loved ones await to bid him a final farewell.

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