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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

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>Indian share markets bore the brunt of panic selling, with the benchmark <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> falling by over 3.5% during the day’s trading. </li><li>The panic selling wiped off over ₹8 lakh crore of investor wealth, but the worst might be over for now. </li><li>Market analyst Arun Kejriwal suggested that the recovery could happen as soon as this week itself. </li></ul>Rising COVID-19 cases and lockdown paranoia sent the share markets reeling under panic, wiping off over ₹8 lakh crore of investor wealth. Both Sensex and Nifty slumped by over 3.5% as the markets feared the second wave of COVID-19 leading to lockdowns. However, investors who are feeling the heat today might find solace that analysts expect that the worst might be over for now. “Fears of an impending lockdown amid rising COVID-19 cases led to panic selling today. The markets have accounted for the expected lockdown in Maharashtra, and may stage a recovery as soon as this week,” market analyst Arun Kejriwal told Business Insider India. Small and mid-cap investors singed under the sell-off while small and mid-cap indices fell by 4.5-5%, Sensex declined by a relatively lower 3.5%. Nifty was hovering around the 14,300 mark at 2 pm on April 12, down by over 500 points from its previous close on April 9, the previous working day. <div type="image" title="Nifty March-April 12, 2021." msid="82030279" hostid="261" caption="&amp;lt;p&amp;gt;The benchmark Nifty50&amp;#39;s performance from March 1, to April 12, 2021&amp;lt;/p&amp;gt;"></div> The worst losers were spread across banking, automobile and infrastructure sectors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">290.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.58% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">756.5 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.15% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">851.75 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.78% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4535.55 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.85% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">329.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.54% </td></tr></tbody></table> Source: NSE, as of 2:30 pm, April 12, 2021. However, Binod Modi of Reliance Securities struck a concerned note. “Domestic equities do not look to be inspiring at the moment. A sharp increase in Covid-19 daily cases in the country, and possibility of large economic restrictions are expected to keep investors nervous in the near term,” he was quoted by PTI. The focus is on the impending lockdown in Maharashtra, which is the worst affected state in terms of rising COVID-19 cases across the country. This, Modi said, is also weighing in on investor sentiments. According to Kejriwal, the next support level for Nifty is 14,200. Based on the existing number, investors still have a cushion of around 100 points. Kejriwal explained that the markets could stay above this level for this week. Much depends on the earnings of the leading three information technology (IT) services companies – TCS, Infosys and Wipro – all of whom are scheduled to announce their March 2021 quarter results this week, starting with TCS today (April 12). The results of these companies will decide which way the IT sector goes after today’s panic sell-off. This will also have an impact on the overall markets, according to Kejriwal. If you were holding off on buying stocks, now could be a good time. After all, corrections and sell-offs present an opportunity. American investor Warren Buffet had once said, “be fearful when others are greedy, and greedy when others are fearful.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/flipkart-partners-with-adani-group-to-set-up-a-sprawling-five-lakh-square-feet-fulfilment-centre-in-mumbai-and-theres-more/articleshow/82027201.cms">Flipkart partners with Adani Group to set up a sprawling five lakh square feet fulfilment centre in Mumbai – and there’s more</a> <a href="https://www.businessinsider.in/tech/news/aadhaar-pan-and-bank-account-numbers-leaked-in-upstox-data-breach/articleshow/82025949.cms">Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-infosys-jsw-steel-and-other-stocks-to-watch-out-for-on-april-12/slidelist/82024378.cms">TCS, Infosys, JSW Steel and other stocks to watch out for on April 12</a>

Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

<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

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.

Republic Day: President Pranab Hosts The Show, Kejriwal Steals It

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

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

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

(Image Credit- IANS) <ul><li><keyword id="6375119" type="DEFINITION" weightage="20" keywordseo="urjit-patel">Urjit Patel</keyword>, the governor of the Reserve Bank of India, has resigned from his post on the central bank’s board. </li><li>Reactions from officials range from ‘I told you so’ to commending the governor’s tenure in office. </li></ul>Twitter exploded with reactions within minutes of Urjit Patel, the governor of the Reserve Bank of India (RBI), announcing his resignation from his post on the board, citing ‘personal reasons’. Urjit Patel had earlier threatened to resign from the RBI with the widening rift between the government and the Reserve Bank of India — especially over the question of the central bank’s autonomy — it was reported that both parties had ultimately reached a ‘truce’. While some had speculated that the governor would resign, nobody had the exact date on their cards and the decision rolled in a little earlier than expected. With the general elections around the corner, reactions from politicians and fellow academicians flew in — ranging from support over Patel’s decision to how the current government is creating a hostile environment that’s not conducive for efficient decision-making. <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>: ‘Urjit Patel leaves a great legacy, under his leadership, the RBI brought financial stability’ 
	
	
	
	
	
	
	
	
	<div type="twitter" handle="narendramodi" handlename="Narendra Modi" image="http://pbs.twimg.com/profile_images/718314968102367232/ypY1GPCQ_normal.jpg" favoritecount="10119" retweetcount="2356" status="Dr Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic is… https://t.co/DyZUxKIXPv" createdat="1544444710000" id="1072104938908508161"></div>



















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 <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>: ‘Wish Dr. Patel all the very best’ 
 
 
 
 
 
 
 
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 Congress: ‘Another one bites the dust’ 
 
 
 
 
 
 
 
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 Subramanian Swamy: ‘It is a direct consequence of FM blaming him publicly yesterday for NPAs.’ 
 
 
 
 
 
 
 
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 AAP: ‘Demonetisation was just a move to benefit cronies.’ 
 
 
 
 
 
 
 
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 P. <keyword id="6362104" type="LOCATION" weightage="20" keywordseo="chidambaram">Chidambaram</keyword>: ‘Saddened, not surprised’ 
 
 
 
 
 
 
 
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 See also: <a href="https://www.businessinsider.in/reserve-bank-of-india-governor-urjit-patel-resigns-citing-personal-reasons/articleshow/67026294.cms">Reserve Bank Of India Governor Urjit Patel Resigns Citing ‘Personal Reasons’</a> <a href="https://www.businessinsider.in/question-of-autonomy-as-the-indian-government-tries-to-strong-arm-the-countrys-central-bank-its-governor-threatens-to-resign/articleshow/66446649.cms">Question of autonomy — As the Indian government tries to strong arm the country’s central bank, its governor threatens to resign</a> <a href="https://www.businessinsider.in/after-weeks-of-tension-the-reserve-bank-of-india-gives-in-to-some-of-the-central-governments-demands-while-retaining-its-independence/articleshow/66705908.cms">After weeks of tension, the Reserve Bank of India gives in to some of the central government's demands while retaining its independence</a>

Twitter erupts with reactions on Urjit Patel’s resignation from the Reserve Bank of India

<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

Who were the other passengers in the <keyword id="6356895" type="General" weightage="50" keywordseo="cyrus-mistry" source="Orion">Cyrus Mistry</keyword> fatal crash? The other three were family friends -- the Pandoles. Former <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> chairman Cyrus <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword> on Sunday died in a road accident while he was returning from Gujarat's Udwada to Mumbai. The three other occupants in the car were -- brothers Darius and Jehangir <keyword id="2120987" type="General" weightage="80" keywordseo="pandole" source="Orion">Pandole</keyword>, and Darius Pandole's wife <keyword id="1155406" type="General" weightage="50" keywordseo="anahita-pandole" source="Orion">Anahita Pandole</keyword>. Darius Pandole was CEO &amp; MD of JM Financial Private Equity and earlier was on the board of Tata companies. They had visited the Iranshah Atash Behram at Udvada on Sunday morning. Cyrus Mistry and the Pandoles had been to Udwada, where Parsis have their main fire temple, to pray for the father of Pandole brothers, who died recently. The <keyword id="14897706" type="General" weightage="50" keywordseo="udwada-fire-temple" source="Orion">Udwada Fire Temple</keyword> was restored over the past few years at a very high cost, borne entirely by the Mistry family. It re-opened fully about a year ago. The car was being driven by Anahita Pandole, a renowned gynaecologist at Mumbai's Beach Candy hospital. Darius Pandole was on the front passenger seat. Both were seriously injured and admitted to the hospital. The Pandole family owned Duke's, a maker of soft drinks like Mangola. They had sold the business to Pepsi more than 20 years ago. Dinshaw Pandole sold the company -- the father of Darius and Jehangir Pandole. Dinshaw Pandole had died last week. SEE ALSO : <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> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cyrus-mistrys-sudden-death-puts-spotlight-on-sp-groups-18-4-holding-in-tata-son/articleshow/93993371.cms">Cyrus Mistry's sudden death puts spotlight on SP group's 18.4% holding in Tata Son</a>

You Searched For "arun kejriwal" and got 11 results

Markets under pressure and look vulnerable: Arun Kejriwal

IANS

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

BI India Bureau

Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

Rounak Jain

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

IANS

Republic Day: President Pranab Hosts The Show, Kejriwal Steals It

Himanshi Dhawan

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

IANS

15 Most Popular Tweets From Politicians This General Election

Preetam Kaushik

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

IANS

Twitter erupts with reactions on Urjit Patel’s resignation from the Reserve Bank of India

BI India Bureau

Too early to say primary market is seeing a revival

Katya

Eetika

Who were the other passengers in the ill-fated Mistry crash?

IANS

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