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New Delhi, Jul 11 () State-owned RCF on Saturday said it has introduced a hand sanitiser in the market as part of its effort to control spread of coronavirus disease. "To assist government in its effort to combat COVID-19, Rashtriya Chemicals and Fertilizers Ltd (RCF) has introduced a Hand Cleansing IPA Gel RCF SAFEROLA," an official statement said. According to RCF, this hand cleansing gel is a skin friendly moisturizer based hand-sanitiser, which contains Iso Propyl Alcohol (IPA) and Aloe Vera extract. It is enriched with Vitamin-E and has a fresh lime fragrance. RCF has made available this hand cleansing gel in easy to carry non spillable 50 ml and 100 ml bottles at a reasonable price of Rs 25 and Rs 50 per bottle, respectively, the statement said. RCF proposes to market this product through its country wide distribution network. RCF CMD S C Mudgerikar said the product is the company's small contribution towards controlling spread of the current pandemic. RCF - a Mini Ratna - is a leading producer of fertilisers and chemicals in the country. It manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, water soluble fertilisers, soil conditioners and a wide range of industrial chemicals. The company is a household name in rural India with brands "Ujjwala" (urea) and "Suphala" (complex fertilisers). MJH BAL

RCF launches hand sanitiser to control COVID-19

Government-owned National Bank for Agriculture and Rural Development (<keyword id="6360385" type="UNKNOWN" weightage="20" keywordseo="nabard">NABARD</keyword>), the second largest lender to <keyword id="3646337" type="PERSON" weightage="20" keywordseo="Reliance-Commercial-Finance">Reliance Commercial Finance</keyword> Limited (RCF) with over Rs 1,100 crore of secured loan exposure, has given a clean chit to RCF and has removed its red flag. NABARD is a part of the consortium of lenders and is signatory to an inter creditor agreement (ICA) executed between the lenders of RCF under the June 7, 2019 circular of RBI on resolution of stressed assets. NABARD had classified the account of RCF as red flag on February 25, 2020. Thereafter lenders conducted a detailed forensic audit by Grant Thornton (GT). At a meeting of the consortium of lenders led by Bank of Baroda held on September 25, NABARD informed the consortium of lenders that having examined the GT forensic report, it found no element of fraud and has therefore removed the red flag. Earlier, the Delhi High Court on August 14 had stayed a move by Bank of Baroda, the leader of the consortium of banks, to classify the accounts as fraud, restraining it from taking any other coercive action till the next hearing. Similar action of Punjab National Bank was also stayed by the Delhi High Court on August 11.

NABARD removes the red flag from Reliance Commercial Finance

The bidders for <keyword id="6360090" type="General" weightage="100" keywordseo="reliance-capital" source="Orion">Reliance Capital</keyword> assets have to submit their financial bids by August 29 (Monday), as the final deadline for the submission of bids ends tomorrow. The bidders will submit their final non binding indicative bids under two options. Under option 1, bidders can bid for Reliance Capital as a Core Investment Company (CIC), while the second option gives the bidders freedom to buy <keyword id="411324" type="General" weightage="80" keywordseo="rcap" source="Orion">RCAP</keyword>'s different business clusters, either individually or in combination. Though the lenders are more keen to sell Reliance Capital as a company (CIC) than individual businesses separately. The deadline for the submission of bids has been extended five times in the past by the lenders. The timeline for the completion of Reliance Capital's resolution process has also been extended twice by the lenders. Now, the final deadline to complete the process is 1 November 2022. At the beginning of the resolution process of Reliance Capital, over 54 companies had submitted Expression of Interest (EOI) for its various assets, but now there are only a handful of bidders actively engaged with the Administrator. According to the banking sources, out of the 54 EOIs received initially, currently only four-five bidders including Piramal Group and Yes Bank are actively engaged in the resolution process of Reliance Capital. Due to the poor response, the Committee of Creditors (COC) even waived off the condition of paying Rs. 75 Cr. Earnest Money Deposit (EMD), in the first submission date. The bidders major concerns have been regarding the treatment of three important business clusters of Reliance Capital i.e. Reliance Commercial Finance (<keyword id="6388800" type="General" weightage="80" keywordseo="rcf" source="Orion">RCF</keyword>), <keyword id="857313" type="General" weightage="50" keywordseo="reliance-home-finance" source="Orion">Reliance Home Finance</keyword> (<keyword id="5541231" type="General" weightage="80" keywordseo="rhf" source="Orion">RHF</keyword>) and <keyword id="157626" type="General" weightage="50" keywordseo="reliance-general-insurance" source="Orion">Reliance General Insurance</keyword> Company (RGIC). Both RCF and RHF had gone through a separate resolution process with Authum Investment and Infrastructure, much before RCAP was referred to NCLT. On the other hand, the shares of Reliance General Insurance, which is the most valuable asset in the entire business portfolio of RCAP, are held by IDBI Trusteeship on the behalf of Credit Suisse. IDBI Trusteeship has refused to release these shares for the ongoing NCLT-led resolution process. To allay the concerns of the bidders regarding the RCF and RHF, the COC has proposed that both the entities will be held in a separate Trust for the Authum Investment and Infrastructure's resolution. The combined debt of these two entities - RCF and RHF is around Rs. 25,000 Cr. The proposed Trust structure would ensure that the bidders of RCAP do not have to deal with this debt. The debt of RCAP is around Rs. 20,000 Cr. The Trust structure would ensure that out of Rs 45,000 crore debt, the Rs 25,000 crore debt of RCF and RHF is excluded from this resolution process. As far as RGIC's shares are concerned, there has been a stalemate between the lenders and IDBI Trusteeship. IDBI Trusteeship Services Limited acting in its capacity as a debenture trustee on behalf of Credit Suisse, had invoked the pledge of RCAP's 100 per cent shareholding in RGICL in November 2019 and transferred the shares to its account. RGICL is the most valuable asset of RCAP and the Administrator wants to include the same as a part of RCAP's IBC process and debt resolution, but with the IDBI Trustee refusing to release the shares of RCIC, the process seems to have hit a roadblock. According to the bankers involved in the process, the value of Reliance General Insurance's business is estimated to be around Rs 5,000 crore to 6,000 crore. Bidders have raised questions and concerns as to how they can submit bids for Reliance General Insurance if the shares of the company are held by IDBI Trusteeship, who has refused to release the same for inclusion in the ongoing IBC process. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/markets-under-pressure-and-look-vulnerable-arun-kejriwal/articleshow/93845387.cms">Markets under pressure and look vulnerable: Arun Kejriwal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/lg-tone-free-fp9-tws-buds-review-underrated-tws-with-a-lot-of-potential/articleshow/93804655.cms">LG TONE Free FP9 TWS Buds Review: Underrated TWS with a lot of potential</a>

Financial Bids for Reliance Capital to be submitted on Monday

<keyword id="6355455" type="COMPANY" weightage="20" keywordseo="Indian-Railways">Indian Railways</keyword> will soon launch new and improved coaches, which were ordered to assist in operating at 200 kmph speed. 
 
These modern coaches come with automatic sliding door, stainless steel brake disc, sintered pads and electro-pneumatically assisted brake system. 
Manufactured at the Rail Coach Factory (RCF) in Kapurthala, each coach is estimated to cost about Rs 3.25 crore. 
 
A total of 20 coaches will be manufactured at RCF out of which four are almost ready and the rest will be delivered in June this year as announced by Railway Minister Suresh Prabhu in his last budget. 
 
The new initiative involves manufacturing a rake of 20 coaches which comprises 14 AC chair cars, 3 Executive Chair cars and 3 Power cars. 
 
Other features which are incorporated in these 200 kmph coaches include improved passenger safety and comfort. The coaches will have aesthetically pleasant interiors with spacious and ergonomically designed seats. 
 
The lavatories of these coaches will have redesigned interior and equipped with vacuum evacuation assisted toilets. The plush interiors will have touchless fittings in taps, hand dryers and soap dispensers besides marble finish and anti graffiti coating on walls.

You
will soon get to travel in new and improved railways coaches with automatic
sliding doors!

New Delhi, Feb 11 () State-owned Rashtriya Chemicals and Fertilizers Ltd (RCF) on Tuesday posted 70 per cent jump in consolidated net profit to Rs 78.42 crore for the third quarter this fiscal on lower expense and tax refund.The company had clocked a net profit of Rs 46.14 crore during the October-December quarter of the 2018-19, according to a regulatory filing.Net profit rose, on a consolidated basis, mainly because of lower expenses and a tax refund of Rs 64.27 crore during the quarter.Net income declined to Rs 2,245.57 crore during October-December quarter of the 2019-20 from Rs 2,373.96 crore in the year-ago period.However, expenses remained lower at Rs 2,231.21 crore as against Rs 2,292.39 crore.Shares of the company closed 0.22 per cent lower at Rs 45.10 apiece on the BSE on Tuesday. LUX LUX BALBAL

RCF Q3 net profit rises 70 pc on lower expense, tax refund

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Lexus has taken wearable tech to the extreme.The company has hacked a custom RC-F coupe to reflect the heartbeat of its driver so that vehicle glows in sync with every pulse. Lexus describes the concept car as as "The world's first car with a heartbeat."There's lots of behind the scene magic, though, that enables the car to light up.For starters, the car is covered with special paint full of phosphorescent substances that shine when it is struck with an electric charge.&#xa0;To get the vehicle to light in sync with it's driver, the driver must wear sensors on her&#xa0;body while driving. Body panels, which are wired to a circuit board, collect and send the biometric data picked up by the driver's sensors to get the vehicle to glow.<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Lexus Australia and M&amp;C Saatchi Australia's creative tech division are behind the project and according to the <a href="http://thisisheartracing.com.au/" target="_blank">project's website</a> its built solely with the purpose of showing "how thrilling the Lexus RC F is to drive."According to a <a href="http://www.wired.co.uk/news/archive/2015-07/20/lexus-heartbeat-car" target="_blank">Wired report</a>, the car took about six months to finish and is solely a concept car, so don't expect to see these on the road anytime soon.&#xa0;The company had three professional drivers take the concept car for a test spin to demonstrate how the car works.Check out the car glow in sync with its driver below.&#xa0;<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/audi-r8-driverless-concept-car-china-ces-a8-e-tron-2015-5">The driverless electric supercar concept that Audi brought to China would impress Iron Man</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="QwaXRhdTr4Qs1El0VVMn_HAYjrgr7CCG" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Lexus has created a car with a human heartbeat

New Delhi, <keyword id="6360090" type="DOMAIN" weightage="20" keywordseo="reliance-capital">Reliance Capital</keyword> (RCAP) debenture holders at their meeting held on January 5, passed the resolution with overwhelming majority for <keyword id="1187112" type="PERSON" weightage="20" keywordseo="monetisation">monetisation</keyword> of its <keyword id="41933" type="ORGANIZATION" weightage="20" keywordseo="assets">assets</keyword>. This comes on the back of shareholders having already approved RCAP monetisation. Reliance Capital had commenced its asset monetisation process - to unlock value of its underlying businesses which targets to make RCAP debt free. JM Financial Services Limited and SBI Capital Markets Limited ran an independent and transparent asset monetizsation process. Expression of interest for nine key assets was launched on October 31, 2020. EOI process received massive response for the nine key assets as multiple players have placed interest for each asset with some of them also expressing interest in all the assets. EOI applicants would now perform due diligence on each asset and submit binding bids for the nine key assets. Asset monetisation process is being run under the aegis of Committee of Debenture Holders and the Debenture Trustee Vistra ITCL India Ltd, which represents 93% of total outstanding debt of Reliance Capital. EOIs invited for all or part of RCL's stake in the following key subsidiaries and assets individually or in any combination thereof: 1. 100 per cent stake in <keyword id="157626" type="COMPANY" weightage="20" keywordseo="Reliance-General-Insurance">Reliance General Insurance</keyword> Company Limited (RGI). Paid up capital of Reliance General Insurance is ₹252 crore as of September 30, 2020. It is the fifth largest Private General Insurance Company with a market share of 4.5% as of March 20 in the Private General Insurance category. Consistent growth in AUM Year-on-Year with investment book of ₹12,315 crore as on September 30, 2020. Performed its best even during Covid times with Gross Direct Premium Income of ₹4,501 crore during the first six months of FY20-21. Strong distribution network of 134 branches with amongst one of the largest agency force of 46,742 as of September 30, 2020 across the country. 2. 51% stake in Reliance Nippon Life Insurance Company Limited (RNLI). Paid up capital of Reliance Nippon LifeInsurance is ₹1,196 crore as of September 30, 2020. RNLI is a joint <keyword id="6388493" type="COMPANY" weightage="20" keywordseo="venture">Venture</keyword> with Japan's largest life insurer - Nippon Life which holds 49% shareholding. It is the 10th largest Private Sector Insurer (in terms of Individual WRP) and amongst largest Non-Banca company with a network of 717 offices. Witnessed sharp turnaround in performance during FY19-20 with a profit after tax of Rs 35 crore and 75 per cent growth (12% CAGR) in Embedded Value over last four years. Impressive claim settlement ratio of 98.1% in FY19-20 and a higher Solvency ratio of 207% (as against regulatory requirement of 150%). As on September 30, 2020, the AUM was ₹21,912 crore. and an Individual Premium Market Share of 2.20% amongst private insurers. 3. 100% stake in Reliance Securities Limited - Broking and distribution company offering services across asset classes including equities, commodities, derivatives, currency, mutual funds, bonds and corporate FDs. 4. 100% stake in Reliance Financial Limited - RBI registered NBFC, engaged in the business of financing, money lending, capital market linked financing activities. 5. 49% stake in Reliance Asset Reconstruction Limited:  Manages portfolio of ₹1,996 crore as on September 30, 2020. Over 3.3 lakh customers across retail and SME segment, with dominant retail presence in South and West region. 6. 20 per cent stake in Indian Commodity Exchange. Other key shareholders in ICEX are Central Warehousing Corporation, MMTC Limited, <keyword id="6363556" type="DOMAIN" weightage="20" keywordseo="indiabulls">Indiabulls</keyword> Housing Finance Limited, Indian Potash Limited and Bajaj Holdings and Investments. ICEX is a SEBI regulated commodity derivatives exchange. 7. 100 per cent stake in Reliance Health Insurance Limited. 8. Other PE investments like Naffa Innovations Private Limited, Paytm E-Commerce Private Limited. RCL's key businesses and subsidiaries are performing well and business will continue as usual. The management, professional team, customer and partners will be unaffected by the proposed asset monetisation programme of RCAP. Resolution of Lending businesses of RCAP - <keyword id="857313" type="COMPANY" weightage="20" keywordseo="Reliance-Home-Finance">Reliance Home Finance</keyword> and <keyword id="3646337" type="COMPANY" weightage="20" keywordseo="Reliance-Commercial-Finance">Reliance Commercial Finance</keyword>. Reliance Home Finance (RHF) and Reliance Commercial Finance (RCF) are undergoing resolution under RBI circular dated June 7, 2019. Bank of Baroda is the lead banker under the ICA resolution process of both the lending entities. The transactions for both RCF and RHF are expected to be closed by March 31, 2021. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-may-be-considering-a-covid-cess-on-high-income-earners-aside-from-more-levy-on-fuel/articleshow/80208520.cms">India may be considering a COVID cess on high income earners — aside from more levy on fuel</a> <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a> <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on</a> <a href="https://www.businessinsider.in/tech/gadgets/news/oneplus-band-with-24-hour-heart-rate-monitoring-14-days-battery-life-launched-in-india/articleshow/80209025.cms">OnePlus Band with 24-hour heart rate monitoring, 14 days battery life launched in India</a>

Reliance Capital debenture holders pave the way for asset monetisation

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Here's why you should never run from the police in Dubai. You won't get away.The Dubai Police Department's fleet of jaw-dropping, exotic squad cars is relatively well known. But Dubai hasn't really shown off the fleet in high-quality cinematic fashion.Until now.This week, the Emirati police department took things to a whole new level with the release of a YouTube video titled "Luxurious Super Patrol Cars for a Luxurious City."In a series of choreographed driving maneuvers, set before the brightly lit Dubai skyline, the Department shows off the fleet in all of its glory. The makers of "The Fast and Furious" would be proud.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Youtube/Dubai Police" title_caption="Check them out!" class="zoomin" href="https://static-ssl.businessinsider.com/image/54dbb23aeab8ea5749fac3ee-960/dubai-police-cars-2.png"></div></div></div>The video culminates with the police cars gathering for a late night photo op with the public. Even under the bright lights of Dubai's shimmering skyscrapers, the fleet of exotics cars still manages to put on quite an impressive show.&#xa0;Interestingly, the Dubai Police didn't include the whole of their exotic fleet. The cars that <a href="http://www.businessinsider.com/the-dubai-police-force-just-added-another-exotic-car-to-its-fleet--the-lexus-rc-f-2015-2" target="_blank">didn't make it into the video</a> include an Aston Martin One-77, Lexus RC-F, Ford Mustang GT, and Chevrolet Camaro SS.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Youtube/Dubai Police" title_caption="Sign me up!" class="zoomin" href="https://static-ssl.businessinsider.com/image/54dbb31becad04ff65a7572b-960/dubai-police-1.png"></a><a href="https://www.youtube.com/watch?v=JUlbcuy1ao0">Youtube/Dubai Police</a>Sign me up!</div></div></div>Sure, it would be mind-blowingly awesome to see these cars in a high speed chase - but that's not actually their purpose. Rather, the Dubai Police use these cars to promote the services of the department to the citizens of the emirate and to attract potential recruits.&#xa0;Sign me up!Check out the video here:<div><div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/victorias-secret-lingerie-valentines-day-gifts-2015-2">4 things every man should know before going into a Victoria's Secret</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ltY3Q4czpodF1qck_p6HxazBrJ2ItWQn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You will never see police cars hotter than the ones in this video from Dubai

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Lexus" title_caption="Lexus LC 500h." class="zoomin" href="https://static-ssl.businessinsider.com/image/56c74cb66e97c623008b8533-960/lexus_lc_500h_039_3f3467dfcd9464cfc1039d4c9a7ab672aa8fbb8d.jpg"></a>LexusLexus LC 500h.</div></div></div>Lexus introduced the stunning LC 500 coupe in January at the Detroit Auto Show to rave reviews.Now, the company has unleashed the sexy V8 coupe's environmentally friendly hybrid twin - the LC 500h.Although both versions of the car share the same sweeping body lines and athletic stance, the powertrain lurking beneath the 500h's skin is truly something special.According to Lexus, the 500h's "Multi Stage Hybrid System" will enable the car to maximize its ability to achieve great fuel economy while producing an engaging driving experience. So what makes this newfangled hybrid system so special? The answer: a 4-speed automatic gearbox. Yes. I'm sure Lexus knows this is transmission technology perfected in an '89 Corolla. But what makes the LC 500h interesting is the way Lexus applies the 4-speed.The Multi Stage Hybrid system marries a 3.5-liter, 220-horsepower V6 engine, an electric motor, a lithium-ion battery pack and the 4-speed auto box to the customary continuously variable transmission (CVT). The presence of what is essentially two transmissions is supposed to give drivers a closer correlation between throttle input and engine RPM. Furthermore, the Mutli Stage Hybrid System features an "M" mode manual gear shifting function- making this the first time the driver of a Lexus hybrid has been able to change his own gears. <div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Lexus" title_caption="Lexus Multi Stage Hybrid System." class="zoomin" href="https://static-ssl.businessinsider.com/image/56c75e302e526558008b85d7-960/lexus_lc_500h_051_4f3ebd8685ee6831aedd6b9707a203c2b9267ed9.jpg"></a>LexusLexus Multi Stage Hybrid System.</div></div></div>Think of this as an admission from Toyota that its highly efficient and effective hybrid drive system with a CVT is truly dreary to drive (although BI's Matt DeBord, a Prius owner who likes to kick his hybrid into "Power Mode" and sling it around corners might disagree). According to Lexus, the 500h's multi stage system generates a total of 354 horsepower, resulting in a 0-62 mph time of less than 5-seconds. These figures fall in the same neighborhood as BMW's 357 horsepower i8 hybrid sports car. OK, so it's quite a lot faster than a Prius.In addition to its innovative hybrid system, the LC 500h is the first car to be equipped with Lexus' new premium rear-wheel-drive platform that will serve as the basic underpinnings for all of the company's upcoming front-engine-rear-wheel-drive cars. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Lexus</div></div></div>For those with more conventional driving tastes, the standard LC 500 is available with the old school, 5.0-liter, 467-horsepower V8 engine found shared with the RC-F coupe and the GS-F sedan. Lexus claims the V8-powered LC will be able to hit 60 mph in under 4.5 seconds. The LC 500h will make its official world debut at the 2016 Geneva Motor Show in March. Lexus hasn't released pricing or fuel economy information for the LC 500h, which is expected to hit showrooms some time in 2017. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Lexus</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bmw-i8-hybrid-review-test-drive-specs-2015-6">BMW made the first hybrid you won't be embarrassed to be seen driving</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="AxaWtndTpcVX4wDTKSWkDYOO7uFhNrt3" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Lexus is introducing a game-changing new hybrid technology

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Over the last year, the reports about Bill Cosby's alleged sexual assaults <a href="http://www.businessinsider.com/category/bill-cosby">have been relentless</a>.Just last week, the New York Times <a href="http://www.businessinsider.com/full-transcript-of-bill-cosbys-sexual-assault-deposition-reveals-casual-indifference-toward-the-allegations-2015-7">released a bombshell court deposition revealing how Cosby used sedative drugs in his sexual pursuit of young women</a>.&#xa0;In total, more than 40 women have come forward to accuse Cosby of sexual assault.&#xa0;Add another story to the list.On Sunday night, New York Magazine <a href="http://www.nymag.com/thecut/2015/07/bill-cosbys-accusers-speak-out.html#patricia-steuer">released&#xa0;a stunning cover story</a>, collecting the accounts of 35 of Cosby's accusers to paint a&#xa0;picture of Cosby as an unrepentant, manipulative sexual predator. The cover image is particularly striking. It features all 35 women seated in a row, with an empty 36th chair for the victims that have yet to come forward.<div></div>The story itself features a combination of video, photos, individual testimonies and a narrative tying it together. The accounts are harrowing in their detail and similarity. Each woman was interviewed separately.One account, from Patricia Leary Steuer, a former training and development specialist who encountered Cosby in the late 1970s, is&#xa0;emblematic of the accounts:Then-22-year-old Steuer worked at the University of Massachusetts and met Cosby there after he gave a lecture in 1978. He offered to mentor Steuer as she pursued a singing career. Cosby later invited her to a dinner party at his Massachusetts home. When Steuer got there, the table was set for just two people. Cosby handed Steuer a drink and insisted she perform an improv exercise, pretending she was a queen with oatmeal covering her face. She began to feel woozy. Her next memory is of Cosby standing above her - her clothes off - in a bathrobe. He handed her a toothbrush, telling her she had gotten sick and passed out in his guestroom. Steuer went home, still unsure of what actually happened to her. Cosby kept in touch, arranging for acting lessons and a gym membership for her. He invited Steuer to events, but nothing more occurred until he asked her to join him in Atlantic City. In the evening, she met him in his suite, where he handed her two large pills and a glass of Champagne. The next morning, she woke up naked in one of the rooms of his suite. Steuer joined on as a Jane Doe in the 2005 Andrea Constand lawsuit; she had initially wanted a pseudonym in New York, but when the news broke that Cosby admitted in depositions that he'd given women quaaludes, she sent an email saying that protection wasn't necessary. "He can no longer claim that we are lying," she wrote.<h3><a href="http://www.nymag.com/thecut/2015/07/bill-cosbys-accusers-speak-out.html">Check out the full story at New York Magazine»</a></h3> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/mark-cuban-shark-tank-spoof-charity-2015-7">Mark Cuban just sent us this hilarious 'Shark Tank' spoof that replaces all the judges with clones of himself</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZiODc4djqEtFgvG6W9gGZ6Imtvjond13" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

New York magazine just dropped a bombshell Bill Cosby cover story collecting accounts from 35 women

MUMBAI: The markets are on a roll, with the <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> and Nifty making fresh life highs, led by gains in banks, auto and energy counters. 
 
The new life high for Sensex is 26,356.24; and that for Nifty is 7,865.85. 
 
The Nifty extended its winning streak for fifth consecutive session and hit an all-time high as FIIs continued to pump in dollars in Indian markets on expectations of pick-up in economy 
 
Sudip Bandyopadhyay, President, Destimoney Securities, is of the view that the market will continue to move upwards. 
 
“A lot of FIIs money is coming out of Russia into Indian markets through BRICS fund. Domestic investors are also entering the market and that is providing support,” said Bandyopadhyay. 
 
At 2:02 p.m.; the 50-share index was at 7,860.95, up 69.25 points or 0.89 per cent. It touched an all-time high of 7,865.85 and a low of 7,779.20 in trade today. 
 The S&amp;P <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword> Sensex was at 26,340.82, up 237.59 points or 0.91 per cent. It touched an all-time high of 26,356.24 and a low of 26,075.28 in trade today. 
 
Sandeep Tandon of Quant Broking is of the view that market went through consolidation in the last three months. It is light at the moment and looks set for next leg of upmove. 
 
The CNX Midcap Index rallied 1.27 per cent and the CNX Smallcap Index surged 2.10 per cent. 
 
Among the sectoral indices, the CNX Bank Nifty was up 1.49 per cent, the CNX Auto Index gained 1.02 per cent, the CNX Energy Index rose 1.42 per cent. 
 
The CNX FMCG Index was down 0.75 per cent and the CNX IT Index slipped 0.51 per cent. 
 BPCL (up 5.25 per cent), <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword> (up 3.11 per cent), <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> (up 3.04 per cent), BHEL (up 2.91 per cent) and Tata Motors (up 2.87 per cent) were among the major Nifty gainers. 
 
ITC (1.92 per cent), Infosys (1.01 per cent), HCL Tech (0.80 per cent), HDFC (0.70 per cent) and TCS (0.68 per cent) were among the index losers. 
 
The market breadth was positive on the NSE with 1090 gainers against 425 losers. 
 
Foreign institutional investors were net buyers worth Rs 625.18 crore and domestic institutional investors were net buyers worth Rs 135.75 crore on Thursday as per the provisional data from the National Stock Exchange. 
 
D-Street highlights @ 2 pm 
 
Cairn India: Plan pipeline to connect field to Gujarat gas grid 
 
Cairn India: Sees significant gas volume potential in Rajasthan 
 
Cairn India: Raageshwari deep field may hold 1-3 TCF gas 
 
ET NOW ALERT: Top Gainer On CNX Small Cap Index Alok Inds Price:12.3 Change: +1.35 Percent Change: +12.33% 
 
ET NOW ALERT: Up For 2nd Day CNX SMALL CAP Price:4979.95 Change: +118.3 Percent Change: +2.43% 
 
ET NOW ALERT: Top Gainer On CNX 200 Index AIA Engineering Price:844 Change: +56.6 Percent Change: +7.19% 
 
Sources Say: JSW Energy in talks to buy Bina, Nigrie power assets of JP Power 
 
Sources Say: JSW Energy says: Continue to evaluate opportunities 
 
Sources Say: Bina Power Plant's EV is pegged at around Rs 3,500 cr 
 
Sources Say: Alert: JP's Nigrie Thermal Power project to have capacity of 1,320 MW 
 
ET NOW ALERT: All 12 lenders in Bank Nifty post gains
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Tata Motors To ET NOW: Plan to increase exports by 25% over the next 3 years 
 
Tata Motors To ET NOW: Co to launch 25 new commercial vehicles in FY15 
 
Tata Motors To ET NOW: Will spend Rs 1,200-1,500 cr this fiscal on new product development 
 
Tata Motors To ET NOW: Expect FY15 M&amp;HCV sales to be 10% higher than last fiscal 
 Adrian Mowat: <keyword id="16898" type="PERSON" weightage="20" keywordseo="Spike">Spike</keyword> in crude oil prices can derail India's growth story 
 
ET NOW ALERT: Hits Fresh Record High SENSEX Price:26297.42 Change: +194.19 Percent Change: +.74% 
 
Adrian Mowat: Underweight on consumer staples, defensive stocks 
 
Adrian Mowat: India's divestment programme has potential to take mkt higher 
 
@ 1 pm 
 
Quant Broking: Bullish on IT stocks on good US economic recovery 
 
Quant Broking: Not optimistic on auto stocks currently 
 
Quant Broking: Positive on mid-cap pharma, cement stocks 
 
Quant Broking: Bullish on pharma, cement, IT banks, PSU oil &amp; gas stocks 
 
Quant Broking: Market is poised for next leg of the bull rally 
 
ET NOW ALERT: Hits Fresh Record High NIFTY Price:7840.3 Change: +48.6 Percent Change: +.62% 
 
JUST NOW: Harsh Mariwala raises stake in Marico Kaya to 2.21% from 1.94% 
 
Atlanta: Signed an agreement with Gujarat Govt to set up entertainment city 
 Fin Min Sources: Alert: In 2008, UTI AMC deferred <keyword id="6354763" type="EVENT" weightage="20" keywordseo="IPO">IPO</keyword> plans 
 
Fin Min Sources: Alert: SBI, BoB,PNB,LIC currently hold 74% stake in UTI AMC 
 
Fin Min Sources: SBI, BoB, PNB to seek board approval to cut stake in UTI AMC 
 
Fin Min Sources: Government looking to list UTI AMC 
 
@ 12 pm 
 
Edelweiss Financial: Q1 IIP growth has been at 4%, indicating a sharp pick up 
 
Edelweiss Financial: Expect exports to grow at 7-8% on a monthly basis 
 
Edelweiss Financial: Need to monitor export demand from US, Europe &amp; Japan 
 
Edelweiss Financial: Trade deficit is not a concern at current juncture 
 
Edelweiss Financial: Agri output remains weak due to delayed monsoon 
 
Edelweiss Financial: Lower crude oil prices will help inflation to cool off as well 
 
Edelweiss Financial: Crude oil prices correcting is positive for twin deficits 
 
Mythili Bhusnurmath: IEA has stated oil consumption may be lower than last year 
 
Mythili Bhusnurmath: Most economic data is within consensus estimates 
 
Mythili Bhusnurmath: Economic data in Q1 has not been disappointing 
 
Mythili Bhusnurmath: Expect EXIM policy to be announced by end of the month 
 
Reliance Comm: Expect to bring down debt by another Rs 10,000 cr 
 
Reliance Comm: Net debt to EBITDA ratio to be below 2.5-3 levels 
 
Reliance Comm: Thrust on CDMA biz has helped achieve a turnaround 
 
Reliance Comm: Had a healthy revenue growth of Rs 4,571 cr, up 2% QoQ 
 
Reliance Comm: Net debt on books at Rs 35,500 cr from Rs 40,000 cr previously 
 
Reliance Comm: Raised Rs 6,100 cr in Q1 via QIP; Promoters invested Rs 1,300 cr 
 
@ 11 am 
 
Meghmani Organics: Have completed investments in capex for FY15 
 
Meghmani Organics: Aim to grow by 25% in topline &amp; bottomline in FY16 
 
Meghmani Organics: PAT likely to be around Rs 55 cr in FY15 
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Meghmani Organics: Expect a topline of Rs 1,550 cr &amp; EBITDA of Rs 250 cr for FY15 
 
Meghmani Organics: Target a business of Rs 600 cr for agro chemicals segment 
 
ET NOW ALERT: 1.21 Lk Shares Trade In A Block Axis Bank Price:382.7 Change: +4.9 Percent Change: +1.3% 
 <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword> AMC: Constructive on select financial stocks 
 
HSBC AMC: NPAs for banks will remain a overhang till economy recovers 
 
HSBC AMC: Expect a real change in economy only by 2015 
 
ET NOW ALERT: 50,000 Shares Trade In A Block Ambuja Cem Price:214.85 Change: +3.95 Percent Change: +1.87% 
 
HSBC AMC: Recommend being invested in quality stocks 
 
HSBC AMC: Will remain selectively invested in consumer stocks 
 
HSBC AMC: Oil &amp; gas stocks will move up if under-recoveries continue to fall 
 
HSBC AMC: Upside in auto stocks seem to be overstated 
 
HSBC AMC: Will adopt a wait &amp; watch strategy on oil &amp; gas stocks 
 
RCF Says: Need to look for overseas JVs for phospahtic fertiliser 
 
RCF Says: Govt is looking at restarting urea plants which have shutdown 
 
RCF Says: Gas availability &amp; pricing issues need to be sorted for fert sector 
 
@ 10 am 
 
Reliance Capital: Waiting for all bank licence guidelines before applying 
 
Reliance Capital: Expect profit growth of 15% to continue for AMC biz 
 
Reliance Capital: Commercial finance loans have grown by 10-11% on YoY basis 
 Reliance Capital: Premium growth in general <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> at 11% in Q1 
 
Adi Godrej: Govt's reforms need to be implemented quickly 
 
Adi Godrej: Hope GST is implemented by April 2015 
 
Adi Godrej: PM Modi's August 15 speech will have an impact 
 
Dimensions Consulting: Have been building position in Reliance Infra 
 
Dimensions Consulting: Jubilant Foods is an expensive stock at current levels 
 
Dimensions Consulting: Prefer Indian Oil &amp; BPCL to ONGC 
 
Dimensions Consulting: Remain bullish on Pharma, FMCG, IT sectors 
 
Dimensions Consulting: Will focus on quality stocks which aren't highly leveraged 
 
ICICI Direct: Prefer TCS to Infosys at current juncture 
 
United Bank: Bank consolidation will be positive for the sector 
 
ICICI Direct: New management of Infosys will be positive for stock 
 
United Bank: Bhushan Steel remains a standard account 
 
United Bank: Bankers to meet on Bhushan Steel loans today 
 
United Bank: Set a target of Rs 1,200-1,300 cr for recovering bad loans 
 
ET Now spoke to various experts and here's what they have to recommend for today's trade: 
 
Ashwani Gujral of ashwanigujral.com 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 540 
 
Bharat Forge Ltd is a 'BUY' call with a target of Rs 790 and a stop loss of Rs 766 
 
IndusInd Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 540 
 
RIL Ltd is a 'BUY' call with a target of Rs 1040 and a stop loss of Rs 990
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Sandeep Wagle, Founder &amp; CEO, Power My Wealth 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 544 
 
BPCL is a 'BUY' call with a target of Rs 688 and a stop loss of Rs 623 
 
AIA Engineering Ltd is a 'BUY' call with a target of Rs 910 and a stop loss of Rs 826 
 
Tata Motors Ltd is a 'BUY' call with a target of Rs 528 and a stop loss of Rs 480 
 
Prakash Gaba, CFT, prakashgaba.com 
 
HDFC Bank Ltd is a 'BUY' call with a target of Rs 845 and a stop loss of Rs 825 
 
Tata Motors DVR is a 'BUY' call with a target of Rs 370 and a stop loss of Rs 345 
 
ZEE Entertainment Ltd is a 'BUY' call with a target of Rs 285 and a stop loss of Rs 273 
 
Abhishek Karande, CMT, Technical Analyst - Institution Research, SBICAP Securities 
 M&amp;M <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">Financial Services</keyword> Ltd is a 'BUY' call with a target of Rs 300 and a stop loss of Rs 248 
 
HPCL is a 'BUY' call with a target of Rs 465 and a stop loss of Rs 409 
 
UltraTech Cements Ltd is a 'BUY' call with a target of Rs 2850 and a stop loss of Rs 2610 
 
Mayank Mehta, Derivative Analyst, KIFS Securities 
 
IndusInd Bank Ltd is a 'BUY' call with a target of Rs 575 and a stop loss of Rs 525 
 
Hero MotoCorp Ltd is a 'SELL' call with a target of Rs 2450 and a stop loss of Rs 2600 
 
Lupin Ltd is a 'BUY' call with a target of Rs 1225 and a stop loss of Rs 1150 
 
A K Prabhakar, Independent Market Expert 
 
L&amp;T Ltd is a 'BUY' call with a target of Rs 1600 and a stop loss of Rs 1480 
 
Yes Bank Ltd is a 'BUY' call with a target of Rs 610 and a stop loss of Rs 538 
 
Rallis India Ltd is a 'BUY' call with a target of Rs 254 and a stop loss of Rs 214 
 
(Views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)

Markets Hit Fresh Life Highs And Experts Say Bull Run Is On; Top 20 Stock Bets

New Delhi, Mar 24 () Moody's Investors Service on Tuesday downgraded state-owned Oil and Natural Gas Corporation's (ONGC) rating in view of the uncertain oil price environment, depleting cash reserves of the government and government guidelines constraining its ability to lower dividends. The rating agency downgraded ONGC's local and foreign currency issuer ratings to Baa2 from Baa1. It also downgraded the ratings of the unsecured bonds issued by ONGC and those issued by its subsidiary ONGC Videsh Ltd. The outlook on all ratings remains negative, it said. "Given the increasingly uncertain oil price environment, ONGC's depleted cash reserves, and government guidelines that constrains state-owned enterprises' ability to lower dividends, ONGC's ratings are materially challenged at the previous rating level and its credit profile insufficient to remain above India's Baa2 sovereign rating. The rating outlook is negative in line with the outlook on India's sovereign rating," said Vikas Halan, senior vice-president, Moody's. "Further, the downgrade reflects our expectation that ONGC's credit metrics will weaken beyond the tolerance level for its ratings, if oil prices remain low for a prolonged period," he said. Against the backdrop of a significant deterioration in oil prices over the last month that is predicted to persist for most of 2020, ONGC decided to pay an interim dividend of Rs 5 per share last week, resulting in cash outflows of Rs 6,300 crore, which has reduced its cash reserves. ONGC had consolidated cash and cash equivalents of Rs 6,700 crore as on September 30, 2019. "ONGC's dividend policy is based on the guidelines issued by the Government of India in May 2016, which requires all government-owned companies to pay a minimum annual dividend equal to 5 per cent of their net worth even if they do not have sufficient profits," Moody's said. Despite depleted cash reserves, ONGC is expected to meet its debt repayment obligations given its access to capital as a state-owned company. "However, its lower cash reserves have diminished the company's capacity to protect its credit profile from oil price shocks," Halan said. ONGC's cash reserves, which provided protection against the oil price decline in 2016, have been depleting over the past three years because of high dividends, share buyback in 2019, and its acquisition of Hindustan Petroleum Corp Ltd (HPCL) in 2018. Its cash and cash equivalents declined to Rs 6,700 crore at September 30, 2019, from Rs 24,700 crore on March 31, 2016. Over the same period, ONGC's net borrowings increased to about Rs 1 lakh crore from Rs 21,500 crore. In Moody's base case scenario, the effects from the virus will persist into the second quarter of 2020, with improving economic fundamentals in the second half of the year. Under this scenario, Moody's expects oil prices to average USD 40-45 per barrel in 2020, returning to USD 50-55 per barrel in 2021. However, in a downside scenario, where economic weakness persists longer, oil would average USD 30-35 per barrel in 2020 and USD 35-40 in 2021. "Moody's expects ONGC's (retained cash flow) RCF/net debt to decline below 30 per cent under its base case scenario and below 20 per cent under its downside case scenario, assuming there are no changes to the company's cost structure, shareholder returns or investment plans," the rating agency said. The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. Oil and gas has been one of the sectors most significantly affected by the shock given its sensitivity to demand and oil prices. More specifically, the weaknesses in ONGC's credit profile have left it vulnerable to shifts in market sentiment in these unprecedented operating conditions, and ONGC remains vulnerable to the outbreak continuing to spread and oil prices remaining weak, Moody's said. ANZ HRS

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