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The week gone by saw markets gain on three of the five trading sessions, yet they lost considerable ground. The start of a new September futures series was also a mixed bag with the series beginning with a bang but by end of day turning out to be just about positive. BSESENSEX lost 812.28 points or 1.36 per cent to close at 58,833.87 points while <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">NIFTY</keyword> lost 199.55 points or 1.12 per cent to close at 17,558.90 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.00 per cent, 0.85 per cent and 0.65 per cent respectively. BSEMIDCAP gained 0.61 per cent while BSESMALLCAP was up 0.85 per cent. The Indian Rupee lost 6 paisa or 0.08 per cent to close at Rs 79.86 to the US Dollar. Dow Jones had a torrid week and was under pressure. It lost on three of the five days and Friday was literally a meltdown when it lost just over 1,000 points. It lost 1,008.38 points after <keyword id="45672" type="General" weightage="80" keywordseo="fed" source="Orion">FED</keyword> chairman <keyword id="1727754" type="General" weightage="80" keywordseo="jerome-powell" source="Orion">Jerome Powell</keyword> reiterated that they are on track to reach interest rates of between 3.75 per cent - 4 per cent by the end of the calendar year. This means that the next hike in September would be 75 basis points and the next one in November may bring a 50-basis points hike. The last and final meeting in December would decide where interest rates end at the end of the year. Currently interest rates in the US are in the range of 2.25-2.50 per cent. This statement by Powell, caused markets to plummet as over the last fortnight they had built in a softer rate hike. The impact of what happened in the US on Friday will be felt over the world when they resume trading on Monday. Our markets are closed for a holiday on Wednesday the 31st of August on account of Ganesh Chaturthi, the day when Lord Ganesh is brought home. It used to be a celebration in just Mumbai and Maharashtra, but is now a national event. This would break trading momentum and being a mid-week holiday, any meaningful rally would be difficult to sustain. In primary market news, it was a blockbuster Friday with one listing and one issue closing for subscription, and both doing very well. The listing from Syrma SGS Technology Limited which had issued shares at Rs 220 closed day one at Rs 313.05. The script gained Rs 93.05 or 42.5 per cent. The share saw robust trading and it was a little surprising that at the end of the day, no names were reported of people who had bought the stock. The issue from Dreamfolks Limited which had tapped the markets with its offer for sale of 172.42 lac shares in a price band of Rs 308-326 closed. The issue was open from Wednesday the 26th of August to Friday the 28th of August. The issue was subscribed 56.67 times with QIB portion subscribed 70.53 times, HNI portion subscribed 37.66 times and Retail portion subscribed 43.60 times. The issue got a favourable rub-off from the subscription and performance of Syrma SGS. Whether this replicates in future issues would be something that would be keenly watched. Issues to open from 1st September would see a change in the way money gets blocked against bids made through brokers. It was witnessed in almost all issues over the last 12 months, that investors bid for shares on the last day and then took a call depending on the final subscription whether they would block their money against the bid or allow the same to lapse. This saw many IPOs which were subscribed to actually end as undersubscribed and getting bailed out by reducing the offer for sale component. In the case of one issue, the merchant bankers had to contribute to the shortfall through the underwriting agreement. This would no longer be possible. It would be interesting times at the markets. Coming to the week ahead, we have a mid-week Wednesday trading holiday which would break the momentum. The previous week's top of 60,400 and 18,000 would act as very strong resistances on any upside that the markets make while levels of 58,200 and 17,400 would act as immediate support. However, if markets break these support levels, we would have another sharp fall of maybe another 2 per cent in the benchmark indices happening rapidly. The new support could then be around 17,000 on NIFTY and 57,000 on BSESENSEX. The big concern would now be the FED announcement and the fact that the US market which fell 1,000 points on Friday is now becoming a cause for concern. The strategy would be to buy on really sharp dips and sell on any rallies. (Arun <keyword id="6358183" type="General" weightage="100" keywordseo="kejriwal" source="Orion">Kejriwal</keyword> is the founder of <keyword id="715020" type="General" weightage="50" keywordseo="kejriwal-research-and-investment-services" source="Orion">Kejriwal Research and Investment Services</keyword>. The views expressed are personal) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pyjamas-out-power-suits-in-apparel-and-cosmetic-sellers-gain-as-indians-go-back-to-office/articleshow/93804412.cms">Pyjamas out, power suits in: apparel and cosmetic sellers gain as Indians go back to office</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/millenial-and-gen-z-couples-want-fewer-guests-at-their-weddings-says-survey/articleshow/93804294.cms">Millenial and Gen Z couples want fewer guests at their weddings, says survey</a>

Markets under pressure and look vulnerable: Arun Kejriwal

<ul><li>Markets gained during the week after losing ground for the previous two consecutive weeks.</li><li><keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 22 paisa or 0.28 per cent to close at Rs 79.58. </li><li>Shares which were issued at Rs 326, saw a discovered price of Rs 505 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>, a high of Rs 550 and closed at Rs 462.65. </li></ul>Markets gained during the week after losing ground for the previous two consecutive weeks. BSESENSEX was up 989.85 points or 1.68 per cent to close at 51,793.18 points. <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> gained 293.90 points or 1.68 per cent to close at 17,833.35 points. The broader indices saw BSE100, BSE200 and BSE500 gain 1.60 per cent, 1.67 per cent and 1.73 per centrespectively. BSEMIDCAP was up 1.86 per cent while BSESMALLCAP was up 2.53 per cent. Indian Rupee gained 22 paisa or 0.28 per cent to close at Rs 79.58. Dow Jones lost on the first two days and then gained on the remaining three days to end the week with gains of 833.27 points or 2.66 per cent to close at 32,151.71 points. In primary news, there was one listing, one issue which had opened for subscription and also closed and a third which had its roadshow. The issue from Dreamfolks Services Limited listed on Tuesday and fared well on expected lines. Shares which were issued at Rs 326, saw a discovered price of Rs 505 on BSE, a high of Rs 550 and closed at Rs 462.65. By Friday, shares lost some ground and closed lower at Rs 430.80. The issue from Tamilnad Mercantile Bank had tapped the markets with its fresh issue in a price band of Rs 500-525. The issue was subscribed 2.85 times with QIB portion subscribed 1.62 times, HNI portion was subscribed 2.94 times and Retail portion was subscribed 6.43 times. There were 1.33 lakh applications. Considering the issue, the response from QIB's could at best be said as tepid. The issue from Harsha Engineers Limited opens on Wednesday the 14th of September and closes on Friday the 16th of September. The price band is Rs 314-330. The company makes bearing cages as its key product and supplies to leading bearing manufacturers not only in India but also globally. Japanese manufacturers have begun to buy from Harsha and this could be a big boost in revenues going forward. The company reported revenues of Rs 1,321.48 crore for the year ended March 2022 and a profit after tax of Rs 91.94 crore. The PE at the top end of the band is 27.73 times. The company has undergone a restructuring exercise and has amalgamated all its businesses under one name. This has diluted the equity to some extent and while the basic EPS for the year ended March 22 was 16.06, on a diluted basis it works out to Rs 11.09. The share and the business look attractive. Coming to the markets in the week ahead, our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. While we have almost closed at the above levels, we need to break out of them and sustain at higher levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be very strong resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. For a clear trend to emerge, 17,000 and 57,250 on the lower side and 18,000 and 59,550 on the upper side need to be decisively broken. Currently we have no news or momentum in the markets to break these levels. The strategy would be to buy on dips and sell on rallies. One interesting development that has taken place in the last week, was that shorts in the futures were squared off to a large extent and to that effect markets have become hollow. In case there is any bad news and markets take a beating, the fall could become sharper than expected. Trade cautiously. (Arun <keyword id="6358183" type="General" weightage="100" keywordseo="kejriwal" source="Orion">Kejriwal</keyword> is the founder of <keyword id="715020" type="General" weightage="50" keywordseo="kejriwal-research-and-investment-services" source="Orion">Kejriwal Research and Investment Services</keyword>. The views expressed are personal) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tamilnad-mercantile-bank-ipo-how-to-check-allotment-status/articleshow/94138952.cms">Tamilnad Mercantile Bank IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/one-person-dying-every-44-seconds-due-to-covid-who-chief/articleshow/94131553.cms">One person dying every 44 seconds due to Covid: WHO chief</a>

The market strategy would be to buy on dips and sell on rallies: Arun Kejriwal

Markets during the last week saw wild gyrations with the first three days seeing a sharp dip followed by a more than equally sharper rise and then yet another dip, to be back on neutral ground. Friday was a nothing day and markets ended marginally up. The week ended with a small negative bias and in what could be termed a highly volatile week. BSESENSEX lost 30.54 points or 0.05 per cent to close at 58,803.33 points while <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> lost 19.45 points or 0.11 per cent to close at 17,539.45 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.20 per cent, 0.29 per cent and 0.38 per cent respectively. BSEMIDCAP gained 1.37 per cent while BSESMALLCAP was up 1.35 per cent. The <keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 6 paisa or 0.08 per cent to close at Rs 79.80 to the US Dollar. Dow Jones continued to remain under pressure and lost on four of the five trading sessions. It lost 964.96 points or 2.99 per cent to close at 31,318.44 points. It is now down 13.81 per cent on a year-to-date basis. On a similar comparison, the Indian benchmark indices are up about one percent. India is now the world's fifth largest economy. It squeezed out the United Kingdom. GST collections for the month of August were at 1,43,612 crore. This is the sixth consecutive month that the collection is at Rs 1.40 lakh crore or higher. The primary market sees the issue from <keyword id="7111922" type="General" weightage="50" keywordseo="tamilnad-mercantile-bank-limited" source="Orion">Tamilnad Mercantile Bank Limited</keyword> tapping the markets with its fresh issue of 1,58,40,000 equity shares in a price band of Rs 500-525. The issue would raise Rs 792- 831.6 crore at the price band. The issue opens on Monday the 5th of September and closes on Wednesday the 7th of September. On Friday, the company completed allocation to anchor investors of 71,28,000 shares at Rs 510. In the last couple of years, one doesn't recall that the anchor book or allocation has been made at a price lower than the top end. Coming to the bank's performance, it is a 100-year-old private bank dominant in the state of <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. In terms of business as much as 75 per cent comes from the state of Tamil Nadu. The next chunk of business comes from the states of Maharashtra, <keyword id="37102" type="General" weightage="80" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword>, Karnataka and Gujarat which contribute about 16 per cent. The bank has grown very significantly during the Covid-19 pandemic. Its EPS has doubled from 2019-20 to 2021-22 from Rs 28.61 to Rs 42.34 and finally to Rs 57.67. It has a decent asset quality as well. Its gross NPAs were at 1.69 per cent while net NPAs were at 0.95 per cent for the year ended March 2022. The shares which are being offered at a price band of Rs 500-525 have a PE multiple of 8.67-9.10 times its FY 22 earnings. In terms of book value, the same is at Rs 374.41, which makes the issue at 1.4 times price to book. Looking at the allotment of anchors, it becomes clear that effectively the new price band is now Rs 500-510 and shares would be allotted at Rs 510. Readers may apply for the shares of the bank considering its fundamentals and pedigree, considering it's a 100-year-old bank. There may be limited upside on listing and investors should apply only for the medium term. Considering its peer group, the bank is adequately priced. There is a change introduced in the bidding process for IPOs with effect from 1st September. Bids made would have to be blocked by the end of the day before the final subscription figures are announced. This is in relation to the hue and cry that was raised where one saw thousands of applications not being banked post being bid. It was also noticed that issues which were subscribed at the end of the bidding time were actually undersubscribed post the final figures. This would put an end to bidding by investors who wanted to eat the cake and have it. Coming to the markets in the week ahead, we would see volatility continuing. While FPIs were buyers largely on most days in August, this is not the case in September and they were sellers as well. Things are not the best in US markets and the 75 basis points hike in the meeting to be held on September 20-21 is a foregone conclusion. What and how the markets react would be based on the commentary post the meeting outcome. Our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be final resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. The strategy for the week would be to continue selling on rallies and buying on sharp dips. Markets are in a trading zone and they need to make up their mind where they are headed in the medium term. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/former-tata-sons-chairman-cyrus-mistry-killed-in-a-road-accident/articleshow/93984352.cms">Former Tata Sons chairman Cyrus Mistry killed in a road accident</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">‘We shared a laugh last month on a park bench in London’, says former head of strategy at Tata Sons</a>

After a volatile week expect markets to remain rangebound says Arun Kejriwal

The mortal remains of industrialist Cyrus P. <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword> - who was killed in a road accident this afternoon - will be taken to <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> for an autopsy even as the Pundole couple remain critical but stable in a hospital in Gujarat's Vapi, official sources said here late on Sunday. According to the hospital medicos, Dr Anahita Pundole is suffering from pneumothorax and hip fracture, but her blood pressure is maintained and she is under observation. Her husband Darius Pundole has suffered bilateral jaw fractures with a displaced jaw causing airways obstruction. A surgeon has pulled out the jaw with with wire fixation and cleared the airway clear and he is also stable. The injured couple is being handled by a team comprising Dr Nita Warty, Dr <keyword id="14897735" type="General" weightage="50" keywordseo="karl-vazifdar" source="Orion">Karl Vazifdar</keyword>, <keyword id="14897737" type="General" weightage="50" keywordseo="dr-mehli-nazir" source="Orion">Dr Mehli Nazir</keyword> and others. After keeping them there overnight, a decision will be taken on Monday for further course of treatment in Gujarat or Mumbai. The mortal remains of <keyword id="6356895" type="General" weightage="50" keywordseo="cyrus-mistry" source="Orion">Cyrus Mistry</keyword> and <keyword id="14897736" type="General" weightage="50" keywordseo="jehangir-pundole" source="Orion">Jehangir Pundole</keyword>, will be directly taken to Sir J.J. Hospital in Mumbai for a post-mortem examination. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/who-were-the-other-passengers-in-the-ill-fated-mistry-crash/articleshow/93994057.cms">Who were the other passengers in the ill-fated Mistry crash?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/after-a-volatile-week-expect-markets-to-remain-rangebound-says-arun-kejriwal/articleshow/93993910.cms">After a volatile week expect markets to remain rangebound says Arun Kejriwal</a>

Mistry's body to undergo autopsy in Mumbai, Pundoles critical but stable

<ul><li>When the news of the war hit the world, it caused a huge upheaval in commodities availability, supply issues as prices skyrocketed.</li><li>Strange as it may sound, no one seems to be worried or bothered about the war outside of <keyword id="6355101" type="General" weightage="80" keywordseo="ukraine" source="Orion">Ukraine</keyword>.</li><li>It is not just the fact that there is no impact of the war, the expected recession is also missing, explains why markets there are so bullish.</li></ul> The Russia-Ukraine confrontation seems to be like an event which began just the other day or yesterday, but would be marking its first anniversary on February 24. When it began, it appeared as if it would be a short affair lasting a couple of weeks or maybe if stretched, a couple of months. Time flies and so has this event. Today, except for those involved with the confrontation, <keyword id="6358826" type="General" weightage="50" keywordseo="russia" source="Orion">Russia</keyword> and Ukraine, the world seems to have forgotten the event. It's like nobody else is affected and hence not bothered. World markets were impacted when the confrontation began. The time was just after the world had more or less recovered from the second wave of Covid pandemic and things were near normal. When the news of the war hit the world, it caused a huge upheaval in commodities availability, supply issues as prices skyrocketed. A country like <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> exported some wheat in the initial stages before the government clamped down on the same. Crude prices rose sharply and Russia tweaked the way it sells crude to counter sanctions imposed on itself by the Western world. The big beneficiaries were China and India because they found land routes to get crude oil for their consumption, and at substantially discounted rates as well. World commodity prices and supply chains have recovered from the war shocks and things are back in place to pre-war and pre-Covid levels. It took a while and a lot of prices had to fall sharply before this was achieved. Today, things are more or less back to normal. The only place which is affected continues to be Ukraine, which is under threat. Immediately after the outbreak of the war, stock markets globally were affected and fell. No one was sure what could be the damage and for how long. They recovered from the losses and seem to be on a roll across the world. What could be termed as surprising or puzzling is the way European stock markets are behaving. One thought that the war would affect Europe the most, as Russia and Ukraine are big suppliers to Europe. Oil and gas are big sources of worry for Europe. However, and contrary to expectations, markets in Europe led by FTSE (British), CAC (French) and DAX (German) stock exchanges are trading at new highs. It is not just the fact that there is no impact of the war, the expected recession is also missing. This probably explains why markets there are so bullish. While financial aid has been given to Ukraine along with big consignments of armaments and ammunition, it appears that the situation is nowhere near resolution. New conditions seem to be the biggest hurdle for resolution. Coming to India and its markets, we made lifetime highs on the 1st of December and are less than 5 er cent away from those highs currently. We seem to be trading in a broad range of less than 2-3 per cent of the lifetime highs. Strange as it may sound, no one seems to be worried or bothered about the war outside of Ukraine. The US has had the worst of inflation and interest rates there have risen quite sharply. Economic data suggest that the economy is doing well and therefore one can expect that interest rate rise would continue, though at a reduced pace. The threat of recession haunts the US currently, even though there are no signs of it as yet. What is the road ahead? Resolution of the war? Unlikely, as neither side seems to be in a hurry. Status quo seems to suit everybody. Commodity prices have returned to normal, so the pain has subsided. Markets are doing fine, so there is no cause for worry. Unfortunate, but that is the reality. (Arun <keyword id="6358183" type="General" weightage="80" keywordseo="kejriwal" source="Orion">Kejriwal</keyword> is the founder of <keyword id="715020" type="General" weightage="50" keywordseo="kejriwal-research-and-investment-services" source="Orion">Kejriwal Research and Investment Services</keyword>. The views expressed are personal)

As the war lingers, it's business as usual for markets

<ul><li>Even after the <keyword id="6473060" type="General" weightage="80" keywordseo="syrma" source="Orion">Syrma</keyword> SGS IPO received an overwhelming response, experts believe that another IPO season is not on the horizon.</li><li>The regulatory approval for at least 30 IPOs received in the last financial year will lapse by the end of the year. 31 IPOs received an approval this financial year.</li><li>Companies will watch the performance of the next few IPOs and the secondary markets before opening issues, say two market experts that Business Insider spoke to. </li></ul>Even before the public offer of <keyword id="14738256" type="General" weightage="50" keywordseo="syrma-sgs-tech" source="Orion">Syrma SGS Tech</keyword> was oversubscribed 33 times last week, three companies – Digit General Insurance, Concord Biotech and <keyword id="1126663" type="General" weightage="50" keywordseo="balaji-solutions" source="Orion">Balaji Solutions</keyword> – had filed their papers with the markets regulator in the third week of August to go public. Another IPO DreamFolks is all set to open for subscription this week. Yet, experts are not convinced that another IPO season is on the horizon. “It’s too early to say that the season of IPOs has started. A lot of companies in the pipeline will be watching for two things – the response that the next few IPOs get and also the market momentum. If the markets remain volatile, companies will allow their approvals to lapse,” Pranav <keyword id="3517398" type="General" weightage="80" keywordseo="haldea" source="Orion">Haldea</keyword>, managing director of Prime Database told Business Insider India. While a few companies like PharmEasy, Inox Green Energy and <keyword id="12727880" type="General" weightage="50" keywordseo="nandan-terry" source="Orion">Nandan Terry</keyword> withdrew their draft papers, scrapping IPO plans, at least four more companies’ approvals will lapse by the end of August. The approvals for another 15 will lapse by the end of the year. “IPOs are a once-in-a-lifetime event for companies and they would want to do it at the perfect time. If the market is not giving them the valuation that they expect, they will not go ahead,” said Haldea. Only <keyword id="4093871" type="General" weightage="50" keywordseo="utkarsh-small-finance-bank" source="Orion">Utkarsh Small Finance Bank</keyword> has re-filed its IPO papers, even as many more companies that planned to go for an IPO in the last financial year let it lapse. Over 32 IPOs that received a go ahead in 2021-22 have been put on hold, while 31 more received an approval in 2022-23. Of these 31 from the current financial year, only Syrma and DreamWorks have gone ahead and opened their issues to the public. A lot of companies file DRHPs assuming issues will sail through but a number of factors like valuations and demand for fresh issuances among domestic and foreign investors play a key role. “There are 10-12 conditions that they have in mind during the filing and many of these conditions may change,” said Arun <keyword id="6358183" type="General" weightage="80" keywordseo="kejriwal" source="Orion">Kejriwal</keyword>, founder of Kejriwal Research &amp; Investment Services. A lot of IPOs from last year that are still in the pipeline, had issue sizes between ₹400-800 crore. However there are a few like Emcure <keyword id="6363818" type="General" weightage="50" keywordseo="pharma" source="Orion">Pharma</keyword> which had plans to raise over ₹4,500 crore as well. The decision to go ahead with an IPO will not depend on the size of the issue, but on pricing, says Kejriwal. “When the momentum is good, subscriptions and listings are good, it’s possible to slip in a bad issue but not when the market is still picking up. After <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> capped the amount that HNIs (high networth individuals) can borrow to invest in IPOs to ₹1 crore, they will have to invest their own funds and that will make a huge difference to subscriptions,” says Kejriwal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-indias-real-gully-boy-vidit-aatrey-of-meesho-is-taking-the-entrepreneurial-dream-deep-inside-bharat/articleshow/93702491.cms">Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/upi-transactions-will-remain-free-government-says-it-has-no-plan-to-charge-them/articleshow/93702248.cms">UPI transactions will remain free, government says it has no plan to charge them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a>

Too early to say primary market is seeing a revival

The Delhi High Court on Tuesday issued notice to <keyword id="1996659" type="UNKNOWN" weightage="20" keywordseo="Delhi-chief-minister-Arvind-Kejriwal">Delhi Chief Minister Arvind Kejriwal</keyword> and five other AAP leaders in a defamation suit filed by <keyword id="6391015" type="UNKNOWN" weightage="20" keywordseo="Finance-Minister-Arun-Jaitley">Finance Minister Arun Jaitley</keyword>. 
 
The court sought replies from Kejriwal, Kumar Vishwas, Raghav Chadha, Ashutosh, Sanjay Singh and Deepak Bajpai by February 5, 2016. 
 
Jaitley has sought Rs.10 crore in damages following the AAP leaders' statements on alleged Delhi and District Cricket Association irregularities. 
 
Jaitley also filed a criminal defamation complaint in a Patiala House court, saying that the statements of these leaders would cause "irreversible damage" to his reputation. 
 
Jaitley headed the DDCA for 13 years till 2013. 
 
Kejriwal has demanded that Jaitley must resign or be removed as union minister to enable free and fair probe into the DDCA issue. 
 
(Image: Indiatimes)

DDCA row: Delhi HC notice to Kejriwal, others in defamation suit

<ul><li>The former Finance Minister of India succumbed to sustained illness today (August 24).</li><li>For a politician who never won an election, Jaitley remained largely relevant and influential throughout his career spanning decades.</li><li>Jaitley famously backed Narendra Modi in his early days and even when the party's leadership denounced the latter, he stoody by Modi.</li><li>In a world where friendships are forged with secrets and power, Jaitley was everyone’s confidante, philosopher, and guide. </li></ul>India’s former Finance Minister Arun Jaitley passed away after sustained illness at the age of 66 after an impressive political career spanning decades when he never won an election but was always relevant and maintained his deep influence in Indian politics. Jaitley, along with the former Foreign Minister, the late Sushma Swaraj -- <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">who passed away earlier this month</a>-- were instrumental in keeping the Bharatiya Janata Party relevant, as an opposition party, in the ten years preceding 2014 when Narendra Modi swept to power as India's Prime Minister. Modi himself owes a lot to Jaitley for his rise to political prominence in India. Not just Modi, even the BJP's harshest critics found it way easier to deal or negotiate with Jaitley. A very apt example of Jaitley's realpolitik, his ability in the <a href="https://www.livemint.com/Politics/1JEYCQDdw88BvxjCIHATxK/Reforms-are-the-art-of-the-possible-Arun-Jaitley.html" data-type="tilCustomLink" target="_blank">'art of the possible'</a>, is the rollout of the complicated Goods and Services Tax (GST) in 2017, through the GST Council-- which Jaitley led until May 2019-- where Jaitley had to convince state governments with conflicting interests to find a common ground. It is not possible to be a successful politician or a lawyer without making a few enemies. But the smooth-talking Arun Jaitley, who studied at St Xavier's and Shri Ram College of Commerce, wore both these hats causing little or no animosity around him. Paradoxically, Jaitley was also sharp-tongued and temperamental by nature but he dictated his mood and not the other way around. When the Supreme Court struck down an Act which intended to break the age-old collegium system of appointing higher judiciary, Jaitley was quick to call it the “tyranny of the unelected”, something he knew it will be thrown back at him for his electoral failures. Jaitley remained an nominated member of the Rajya Sabha, the upper house of Indian Parliament, from 2000 to 2018 as he never won an election. The Former Chief Justice of India, RM Lodha, did taunt him in <a href="https://www.youtube.com/watch?v=tD2GNu556aA" data-type="tilCustomLink">a televised national debate in 2015</a>. But Jaitley was prepared and he knew how to direct the debate in the direction he wanted. That was his skill, the ability to know the strengths and weaknesses, not just of himself but of his rivals too, like few else can. Watch the riveting debate between Arun Jaitley and Former Chief Justice of India RM Lodha over the National Judicial Appointments Commission in 2015. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="Youtube" id="tD2GNu556aA" title="NJAC Debate with Arnab Goswami | Legislature Vs Judiciary | Arun Jaitley Vs Justice R M Lodha - Full" thumbUrl="https://i.ytimg.com/vi/tD2GNu556aA/mqdefault.jpg"></div>













































 Jaitley could see the future and he placed his bets, and made friends, accordingly right from the days as a student politician, to when he became a lawyer and later, the member of the Bharatiya Janata Party (BJP). Jaitley was Vajpayee’s man who stood by Modi Years before Narendra Modi became the Prime Minister and was barely a politician of any significance, Jaitley became his friend. Modi was living out his exile from Gujarat politics in 1995 at the BJP party headquarters in Delhi, when he met Jaitley--who was then called ‘Vajpayee’s man’. Jaitley had lobbied for <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379">Modi and turned </a>instrumental in making him the chief minister and later the country's Prime Minister. And his ability to network was so slick that even when he chose sides, he made no foes. For one, he chose Modi over LK Advani as the Prime Ministerial candidate in 2013, and yet remained close to the latter. Years later, everyone came to know Jaitley as Modi’s man. The current Prime Minister had so much confidence in Jaitley that during the first five years of the Modi government, Arun Jaitley held the portfolios of Finance, Corporate Affairs, Defence, and Information and Broadcasting-- and at times he was in multiple important portfolios simultaneously. A <a href="https://caravanmagazine.in/sports/rajat-sharma-the-ddca-and-the-perks-of-a-close-friendship-with-arun-jaitley" data-type="tilCustomLink" target="_blank">similar friendship forged with Rajat Sharma</a>, the founding editor of India TV, one of India's most influential television channels, lasted Jaitley's lifetime. Sharma reportedly used to drive Jaitley around the Delhi University on his scooter while the latter was campaigning as a student politician in the 1970s. Jaitley represented both Coke and Pepsi as a lawyer against each other at different times He could have even written the famous book ‘How to make friends and influence enemies?’ if Dale Carnegie wouldn’t have beaten him to it. Jaitley had represented two of the world’s most bitter rivals—<a href="https://www.sify.com/news/how-everybody-loves-arun-jaitley-news-columns-pmwpk3ebbdfjd.html" data-type="tilCustomLink" target="_blank">Coca Cola and Pepsi as a lawyer</a>. He was Coca Cola’s lawyer for a case against Pepsi and vice versa. Though many would have rolled their eyes at this feat, for him it was a small game. Jaitley's frienship with rivals Sonia Gandhi and P Chidambaram In the <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379" data-type="tilCustomLink" target="_blank">long list of unlikely friends</a> is Sonia Gandhi, the head of the rival Congress party, and former Finance Minister, and a lawyer turned politician just like him, P Chidambaram. Jaitley seemed to have gotten through his life keeping all his friends along with a successful career. But many of his friendships were tested, in court as well as Parliament. In 2012, Jaitley was a part of the Opposition party, and he was chosen to question and grill P Chidambaram, the home minister of the ruling Congress party about <a href="https://www.business-standard.com/about/what-is-aircel-maxis-case" data-type="tilCustomLink" target="_blank">the Aircel-Maxis deal</a>. Chidambaram started answering the question by saying that <a href="https://www.business-standard.com/article/opinion/aircel-maxis-deal-probe-will-test-friendship-between-chidambaram-and-jaitley-116030300275_1.html">he was happy that </a>“a friend of 22 years has questioned him.” Though later through the session, Chidambaram turned emotional and “felt as if someone plunged a dagger into him.” Their friendship withstood the barbs, the scams, as the Congress politician continued to attend Jaitley’s annual lunch parties which also doubled as his <a href="https://www.outlookindia.com/magazine/story/ties-that-bind/291379">birthday </a>celebration. Jaitley's rivalry with Subramanian Swamy and Ram Jethmalani Two of Jaitley’s most vicious critics are country’s top lawyers Ram Jethmalani and BJP leader Subramanian Swamy. Both have <a href="https://www.pgurus.com/mr-arun-jaitley-hope-you-have-learnt-your-lesson-for-treating-sonia-family-with-kid-gloves-you-owe-answers-in-mallya-exit/" data-type="tilCustomLink" target="_blank">passed vitriolic comments</a> against Jaitley and they both had old beefs to settle. Jaitley was once the legal assistant to Jethmalani. Yet, the camaraderie did not last long. Jaitley is known to <a href="http://www.indialegallive.com/commercial-news/controversy-news/battle-legal-eagles-21529">have influenced Vajpayee </a>to push Jethmalani from his position as the law minister unceremoniously. The fire-breathing lawyer had never forgiven Jaitley nor forgotten the slight, and had used every excuse to criticise him. He also went back to court as Delhi chief minister Arun Kejriwal’s lawyer in a libel case, just for the pleasure of cross-examining his old adversary. But Jaitley was not a man to be easily undone either and kept his cool, passing the bitter examination with flying colours. Jaitley was also not undone even as Swamy questioned his every move. This rivalry too started when he found a legal loophole to deny the payment of his dues over a case he argued. Ever since, <a href="https://theprint.in/politics/subramanian-swamys-rivalry-with-arun-jaitley-goes-back-to-1993-iit-delhi-salary-row/219800/">he accused Jaitley </a>of being a Congress insider, instigator or a coup and much more. When Jaitley did try to clamp him over discipline, Swamy retorted, “People giving me unasked for advice of discipline and restraint don’t realise that if I disregard discipline there would be a bloodbath.” Jaitley wisely never rose to the bait, like a seasoned solider who picks his battles. Jaitley may be no more but the way he deftly maneuvered India's labyrinth political space will provide lessons in the art of the possible. In a world where friendships are forged with secrets and power, Jaitley was everyone’s confidante, philosopher, and guide. SEE ALSO: <a href="https://www.businessinsider.in/sushma-swaraj-indias-former-foreign-minister-passes-away-at-the-age-of-67/articleshow/70561044.cms" data-type="tilCustomLink" target="_blank">India's 'supermom' Sushma Swaraj, the lady who redefined the country's Foreign Ministry, is no more</a>

Arun Jaitley, every big man's friend, passes away at the age of 66-- leaving behind lessons in the 'art of the possible'

<a href="http://www.businessinsider.in/searchresult.cms?query=orahi&amp;sortorder=effectivedate">Orahi</a>, the <a href="http://www.businessinsider.in/searchresult.cms?query=gurgaon&amp;sortorder=effectivedate">Gurgaon</a>-based <a href="http://www.businessinsider.in/searchresult.cms?query=carpooling+app&amp;sortorder=effectivedate">carpooling app</a> made headlines in April when it announced that it had acquired 13-year-old <a href="http://www.businessinsider.in/searchresult.cms?query=akshat+mittal&amp;sortorder=effectivedate">Akshat Mittal</a>’s highly popular (and topical)<a href="http://www.businessinsider.in/searchresult.cms?query=odd-even.com&amp;sortorder=effectivedate"> Odd-Even.com </a>for an undisclosed amount in an all-cash deal. 
 
In a bid to curb pollution in the city, the <a href="http://www.businessinsider.in/searchresult.cms?query=delhi+government&amp;sortorder=effectivedate">Delhi government</a> led by Chief Minister <a href="http://www.businessinsider.in/searchresult.cms?query=arvind+kejriwal&amp;sortorder=effectivedate">Arvind Kejriwal</a> proposed an <keyword id="3163158" type="UNKNOWN" weightage="100" keywordseo="odd-even-rule">Odd-even rule</keyword> that restricted private vehicles with odd and even registration numbers to run on alternate days of the week. 
 
The first phase of the Odd-even rule came into effect from January 1 and though it reportedly did manage to lessen the levels of pollution in the capital, it also met with complaints from commuters who had to find other means of transport on days they couldn’t take their cars. 
 At that time, help came in the form of a <keyword id="1068586" type="UNKNOWN" weightage="100" keywordseo="Carpooling">carpooling</keyword> website called <keyword id="3177440" type="UNKNOWN" weightage="20" keywordseo="odd-even-com">Odd-Even.com</keyword> that was founded by <keyword id="3173575" type="UNKNOWN" weightage="100" keywordseo="Akshat-Mittal">Akshat Mittal</keyword>, a student of Amity International School, Noida that met with instant and unprecedented popularity because of its convenience user-friendly interface. 
 
 
Odd-Even.com promoted the concept of carpooling among commuters on a friendly basis and lets users make a commuter preference in terms of gender and age after they have registered on the website with their name, age, mobile number and vehicle’s registration number. One could either choose a one-way travel or a return trip. 
 So when news broke that Mittal had sold off his website to another <keyword id="3318659" type="UNKNOWN" weightage="100" keywordseo="Carpooling-App">carpooling app</keyword>, that too barely 10 days before the implementation of the second phase of the Odd-even formula, everyone was naturally curious to know what really went behind that deal. 
 And, finally two months after the acquisition, <keyword id="3207165" type="UNKNOWN" weightage="100" keywordseo="Orahi">Orahi</keyword>’s COO and Founder, <keyword id="1151710" type="UNKNOWN" weightage="100" keywordseo="Arun-Bhati">Arun Bhati</keyword> tells Business Insider in a freewheeling chat why acquiring Odd-Even.com in April made absolute sense. 
 
For starters, Bhati tells us that they noticed how the traffic to the site during the first phase of Odd-Even rule was unimaginably high and they assumed that a repeat would occur during the second phase of the Odd-Even rule as well because of the absolute popularity the site enjoyed. 
 
“That’s why we set a plan in process to have talks with Mittal and enter into a partnership with him to acquire Odd-Even.com which would in turn be integrated with Orahi. From a business point of view, this was absolutely the right thing to do,” he added. 
 
Secondly, Odd-Even was successful in attracting the right kind of audience to its site, thinks Bhati. 
 
 
“This is the audience that wants to carpool. It was perfect for us. Thus, when we acquired Odd-Even.com, we also got access to the 30,000 users who had registered on the site allowing us to take our total user base upto 70,000 in no time,” he explained, adding that it also allowed Orahi to cater to a larger audience. 
 
Lastly, from the customer point of view, after the acquisition Orahi would’ve now been in a position to allow greater flexibility to users in terms of increased numbers of carpooling options in every direction possible, said Bhati. 
 
As a part of the partnership, Orahi had also inducted Akshat Mittal on the company’s advisory board as a technical and domain expert, in return providing mentorship to the little genius on the carpooling business. 
 
Since April, the Odd-Even website re-directs users to the Orahi interface. A case of total win-win!

Here's why Orahi, the
Gurgaon-based carpooling app acquired 13-year-old Akshat Mittal’s Odd-Even.com

The entire list and a brief profile of 'Delhi ke nirmata'⁠— the makers of Delhi felicitated at Kejriwal's oath taking ceremony

NEW DELHI: CNG and piped natural gas prices are set to go up shortly, though not as much as feared. Indications emerging from hectic discussions between the oil ministry and <keyword id="71" type="POSITION" weightage="60" keywordseo="Prime-Minister">Prime Minister</keyword>’s Office over the weekend suggest that gas price may be jacked up from $4.2 a unit to $5.5-6.8 per unit. 
 This increase will be almost $2 less than the $8.4 per unit price that was expected on the basis of formula adopted by the <keyword id="26374" type="ORGANIZATION" weightage="80" keywordseo="UPA-government">UPA government</keyword>. But still, the hike will impact daily cost of living, particularly in a city such Delhi where CNG is used for public transport and PNG is increasingly becoming the choice for cooking. 
 
Higher gas price will also have marginal impact on overall cost of power by pushing up electricity tariff for gas-fired plants, which account for roughly 8% of the installed capacity in the country. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/business/india-business/RIL-charged-more-than-approved-gas-price-CAG-says/articleshow/35730854.cms">RIL charged more than approved gas price, CAG says</a> 
 
Assuming the government finally settles for a price of $6.8, CNG price in Delhi would go up by approximately Rs 7.50 per kg. Hypothetically even after a new gas price is announced, CNG would still be cheaper than what it cost in February. CNG price was reduced by Rs 14.90 per kg and PNG by Rs 5 per unit in February after the Centre said the entire gas demand would be met with cheaper domestic gas. 
 
Subsequently, CNG price in Delhi was raised by Rs 2.95 per kg in May due to falling rupee and rise in operational costs. So, even after this hike, the current price is Rs 11.95 cheaper than February level. Thus the fuel would be still cost Rs 4.45 less than in February. 
 
The discussions within the government are focused on simplifying the pricing formula to avoid doubling of present gas price. In all likelihood, the new formula would have among the benchmarks, markets with friendlier gas price. Thus Russia is expected to replace Japan, a country that imports gas in ships at very high prices. 
 
The new formula is also expected to specify pricing method based on net calorific value (NCV), which works out 10% cheaper than gross calorific value (GCV). NCV is calculated on reduced volumes upon deducting impurities such as water or other gaseous content present in natural gas. 
 
READ ALSO: <a href="http://timesofindia.indiatimes.com/news/Will-fight-till-end-to-stop-gas-price-hike-Kejriwal/articleshow/34301914.cms">Will fight till end to stop gas price hike, Kejriwal says</a> 
 
There is also a possibility that the government could opt for a differential pricing by applying the latest pricing only to fields that are currently in production. Others that come on stream in near future, such as state-run ONGC’s marginal fields, would be allowed to sell at market price through tender system. 
 
Such a move is seen serving two purposes: One, it will mark a gradual shift towards market-determined pricing shift-- the original aim of oil sector reforms. Two, in a single stroke it would brighten investment climate by removing clouds over viability of new discoveries – mostly in deep and frontier waters. 
 
Another option on the table also envisages asking ONGC, the biggest beneficiary of any price revision, to part some of the money to share increased fuel subsidy. Taking off on this, there are also suggestions that the government could deregulate diesel price while simultaneously reducing Central levy on the fuel in the Budget to soften the blow on consumers. ONGC then can be asked to share the increased burden on fertilisers. 
 Prime minister <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword> has held two rounds of brainstorming sessions, mainly focused on the issue, with <keyword id="60115" type="POSITION" weightage="40" keywordseo="Oil-minister">oil minister</keyword> Dharmendra Pradhan and <keyword id="46538" type="POSITION" weightage="40" keywordseo="Petroleum-Secretary">petroleum secretary</keyword> Saurabh Chandra. After a five-hour session on Friday evening, the PM held another round of discussion on Sunday that was also attended by finance minister <keyword id="42575" type="PERSON" weightage="40" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>. 
 
 The framing of policy on gas pricing became a hot potato after a political storm arose during elections over allegations of crony-capitalism, public interest litigation in the Supreme Court as well as arbitration notices served against the government by <keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> Ltd and BP Plc. 
 But subsequent question whether Reliance Industries Ltd should be allowed higher gas price due to drop in output from its KG-D6 field delayed notification. Later, the Election Commission stepped in after a letter from AAP leader <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword>, sending the entire issue into a tailspin.

Gas Price To Go Up, Though Less Than UPA Plan

Apart from the slogans for change, if anything significant has happened during these elections, it is way the e-world has arrived, officially this time. Every <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> candidate worth his/her salt has a media manager who is updating the social media sites for the candidate – be it with campaign pictures, videos of speeches or interactions with the voters. And there are quite a few crackers in the <keyword id="6354616" type="CITY" weightage="60" keywordseo="Twitter">Twitter</keyword> world as well. Like <keyword id="50339" type="PERSON" weightage="40" keywordseo="Ajay-Maken">Ajay Maken</keyword> hit Twitter almost immediately after the BJP released its manifesto. Today, if something is bound to change, it will be the mode of interaction with the people of this country. Only time will tell whether it is good for us or not. 
 
The Lok Sabha polls this year have driven Twitter into the fever mode and here are 15 popular tweets by politicians that you wouldn’t want to miss. 
 
1. <keyword id="4032986" type="PERSON" weightage="40" keywordseo="Rajeev-Chandrashekhar">Rajeev Chandrashekhar</keyword> - <a href="https://twitter.com/rajeev_mp">@rajeev_mp</a> 
 
2. <keyword id="18656" type="PERSON" weightage="40" keywordseo="Lalu-Prasad-Yadav">Lalu Prasad Yadav</keyword> - <a href="https://twitter.com/laluprasadrjd">@laluprasadrjd</a> 
 
3. <keyword id="30182" type="PERSON" weightage="40" keywordseo="Kapil-Sibal">Kapil Sibal</keyword> - <a href="https://twitter.com/KapilSibal">@KapilSibal</a> 
 
4. <keyword id="6354361" type="PERSON" weightage="40" keywordseo="Kiran-Bedi">Kiran Bedi</keyword> - <a href="https://twitter.com/thekiranbedi">@thekiranbedi</a> 
 
5. Omar Abdullah - <a href="https://twitter.com/abdullah_omar">@abdullah_omar</a> 
 
6. <keyword id="6355111" type="PERSON" weightage="40" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword> - <a href="https://twitter.com/SushmaSwarajbjp">@SushmaSwarajbjp</a> 
 
7. <keyword id="42749" type="PERSON" weightage="40" keywordseo="Shashi-Tharoor">Shashi Tharoor</keyword> - <a href="https://twitter.com/ShashiTharoor">@ShashiTharoor</a> 
 
8. <keyword id="42575" type="PERSON" weightage="40" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> - <a href="https://twitter.com/arunjaitley">@arunjaitley</a> 
 
9. Smriti Z Irani - <a href="https://twitter.com/smritiirani">@smritiirani</a> 
 
10. <keyword id="6361795" type="PERSON" weightage="40" keywordseo="Vasundhara-Raje">Vasundhara Raje</keyword> - <a href="https://twitter.com/VasundharaBJP">@VasundharaBJP</a> 
 
11. <keyword id="42634" type="PERSON" weightage="40" keywordseo="Varun-Gandhi">Varun Gandhi</keyword> - <a href="https://twitter.com/varungandhi80">@varungandhi80</a> 
 
12. <keyword id="13850" type="PERSON" weightage="40" keywordseo="Rajiv-Pratap-Rudy">Rajiv Pratap Rudy</keyword> - <a href="https://twitter.com/RajivPratapRudy">@RajivPratapRudy</a> 
 
13. <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> - <a href="https://twitter.com/ArvindKejriwal">@ArvindKejriwal</a> 
 
14. Milind Deora - <a href="https://twitter.com/milinddeora">@milinddeora</a> 
 
15. Gul Panag - <a href="https://twitter.com/GulPanag">@GulPanag 
</a>

15 Most Popular Tweets From Politicians This General
Election

Finance Minister Arun Jaitley said private hospitals will not accept old banknotes in a bid to stop misuse of the old currency. 
 Addressing a news conference on <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword>, Jaitley said 22,500 ATMs will be re-calibrated and nearly 2 lakh ATMs exist as of now. 
 Talking about speculations on new <keyword id="3830487" type="UNKNOWN" weightage="20" keywordseo="Rs-1000-note">Rs 1000 note</keyword>, Jaitley said, “Rs 1000 Rupee notes will not be reintroduced as of now.” 
 
Earlier in the day, Economic Affairs Department Secretary Shantikanta Das announced reduction of the limit to exchange old notes with new ones from Rs. 4,500 to Rs. 2,000 for each person from November 18. 
 
“For those who are getting married, families can withdraw Rs 2.5 lakh for weddings only from one account, based on self-declaration. Farmers can withdraw up to Rs. 25,000 per week against loans sanctioned to them to buy seeds and fertilizers and Rs 25,000 a week can be drawn from payment that farmers receive for agricultural produce in form of cheques,” Das said. 
 
Meanwhile, traders in vegetable wholesale markets can withdraw Rs 50,000 per week. 
 
“Central Government employees up to Group C can withdraw salary in advance up to Rs 10,000 in cash. This will be adjusted against their November salaries,” he announced. 
 Meanwhile, opposition parties staged protest, asking the government to rollback demonetisation. AAP chief <keyword id="260213" type="PERSON" weightage="20" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> and West Bengal Chief Minister <keyword id="43868" type="PERSON" weightage="20" keywordseo="Mamata-Banerjee">Mamata Banerjee</keyword> said the move caused huge inconvenience to the public. 
 
Prime Minister Narendra Modi, last week, announced demonetisation in a bid to fight black money and terrorism.

Jaitley says private hospitals won’t accept old notes; rules out Rs 1000 new note

NEW DELHI: He was one of the 4,500 guests but Delhi CM <keyword id="260213" type="PERSON" weightage="100" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword>, in his maiden outing at President <keyword id="9937" type="COMPANY" weightage="40" keywordseo="Pranab">Pranab</keyword> Mukherjee’s ‘At Home’, stole the show. 
 
Wearing his trademark maroon sweater, muffler and floaters, Kejriwal stood in the sprawling Mughal Gardens as India’s swish set vied for autographs, pictures and sometimes just a handshake with him. 
 
It was a power moment that no one in the establishment may have imagined. Two years ago, Kejriwal had negotiated with Mukherjee, chairman of the joint drafting committee, on the Lokpal bill and had returned empty-handed. On Saturday, the two displayed a public difference of opinion. Mukherjee spoke against “populist anarchy” and Kejriwal defended his dharna as constitutional. On Sunday, as Mukherjee gave an audience to invitees from the world of diplomacy, politics, administration, arts and media, Kejriwal held a parallel durbar. 
 
Men and women showered him with unabashed praise. Several ambassadors and bureaucrats took the opportunity to introduce themselves to Kejriwal who was accompanied by his Cabinet. German ambassador Michael Steiner sought a meeting with Kejriwal for German President Joachim Gauck who is visiting India next month. The request, it emerges, was turned down by the CM’s office. Kejriwal assured him that it would be rescheduled. Another diplomat shared a joke, saying how his broken Hindi left him confused about the party’s name initially (he thought aam only meant mango). 
 The power elite gave up its pretensions, some offered him advice and encouragement, some said they were inspired and others sought his time. The CM even received a muffler as a present. The argumentative asked why he had sat in the VIP enclosure at the <keyword id="6416557" type="PERSON" weightage="100" keywordseo="Republic-day">Republic Day</keyword> parade or why his party’s name had no mention of the “aam aurat”. To them all, Kejriwal gave a patient ear. In fact, the <keyword id="6356115" type="CITY" weightage="40" keywordseo="AAP">AAP</keyword> durbar went on well after the President and the PM had left the venue till security personnel stepped in to guide Kejriwal to the exit. 
 
Mukherjee too was his accessible self, meeting people gathered in the Rashtrapati Bhavan lawns. Visiting Japanese PM Shinzo Abe also met the invitees. 
 Later, <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword> president Sonia Gandhi and BJP leader Sushma Swaraj got up from their chairs in the VIP enclosure and mixed with the crowd. 
 Other dignitaries present were Vice-President <keyword id="6491214" type="PERSON" weightage="40" keywordseo="Hamid-Ansari">Hamid Ansari</keyword>, Prime Minister Manmohan Singh, <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> Speaker Meira Kumar, home minister Sushil Kumar Shinde, besides BJP leaders L K Advani and Arun Jaitley. Cabinet ministers P Chidambaram, Veerappa Moily and A K Antony were also present. 
 
Sources said close to 4,500 people had turned up. Rashtrapati Bhavan had issued e-invites this year and the entrances were manned by bar-code scanning personnel. About 60% of the invites were sent out through e-mail, bringing down costs and resources as part of Rashtrapati Bhavan’s greening exercise.

You Searched For "arun kejriwal" and got 14 results

Markets under pressure and look vulnerable: Arun Kejriwal

IANS

The market strategy would be to buy on dips and sell on rallies: Arun Kejriwal

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After a volatile week expect markets to remain rangebound says Arun Kejriwal

IANS

Mistry's body to undergo autopsy in Mumbai, Pundoles critical but stable

IANS

As the war lingers, it's business as usual for markets

IANS

Too early to say primary market is seeing a revival

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DDCA row: Delhi HC notice to Kejriwal, others in defamation suit

BI India Bureau

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