Sunday, September 19, 2021
Home Blog

Another year, same time, but the cause of death remains the same; POOR GOVERNANCE

0
poor governance
Credit : twitter @BJP4INDIA

As the second wave of covid-19 took an aggressive turn, the failure of management by the government can be evidently seen. While reports on some news channels and newspapers say otherwise, the ground reality of the pandemic is horrifying and sending chills to our spine. Various footage and visuals from people who have lost their family members, some searching for medicines and authentic sources to get oxygen cylinders, and front-line healthcare workers breaking down while requesting people to take as much precaution as possible speak volumes about the reality of the situation.

Entering the second year of the pandemic the situation seems to be aggravated than last year but the problems remain the same. Shortage of beds, oxygen cylinders, injections, panic among the migrants, and the uncountable bodies waiting to be cremated is a loud cry how our government has failed us. The people of India are asking today if we have lost the battle against covid-19 because this is everything we had to be prepared for.

The government seems to be unaffected by the horrifying ground reality as we come across various footages of rallies being held in huge numbers giving utmost importance to the ongoing elections but very little to our welfare.

Thousands of people, unmasked, overstepping the norms of social distancing, attending these rallies in the presence of our Prime Minister addressing the crowd has raised a lot of eyebrows.

People have started questioning where are the funds that were collected under the “PM CARES” fund solely for the purpose to avoid this exact situation and strengthen the healthcare infrastructure.

A disturbing incident came into light recently where a senior Journalist from UP, Vinay Srivastava lost his life begging for oxygen in multiple tweets, pleading the government to extend their support and help him get immediate aid but his cry for help fell into deaf ears. Another such incident became news when comedian Prashashti Singh posted on her social media revealing her horrifying experience of getting one oxygen cylinder for her mother who had tested positive and was in dire need of it. While we come across such stories from people who have a voice to break their silence on the ground reality, we can only imagine how things are for people whose stories might never reach us.

The aggressive pattern of the second wave and how it’s being managed is a reminder and display of how deeply the leaders we elect for our welfare think about us. While we manage to fight the uncertainty related to covid-19, we must understand how serious the issue is and only step out of our homes if it’s absolutely necessary. Follow the norms of social distancing and be masked at all times when you step out. There are only a few things we as citizens can do and that is taking all the necessary precautions and adhering to the norms to successfully fight the second wave.

The Art of Being Successful

0
Art of successful
Photo by Miguel Bruna on Unsplash

Does the imagination of being successful fills your heart with content? Do you dream of achieving everything you ever have wished for?

Success is a long road, the one which we all desire but it does not choose us. Instead, we choose to be successful because we have the power to follow our dreams and work towards our goals. Putting in efforts and working hard can help us to reach where we wish to. Therefore, for being successful and achieving our goals, it is important to swear by a few things.

Firstly, one must be filled with Positivity. We should not let negative feelings surround our thoughts with regard to our future endeavors. The act of filling oneself with negative thoughts transforms our insight whereby we tend to look at our goals not as our dreams but as burdens that overshadow our happiness. Negativity kills the zeal to do better while being positive transforms us to believe that we must be oriented towards our goal and it ensures that we would do everything it takes to reach our destination.

Secondly, it is important to stay motivated. Motivation counts for empowering our feelings which in turn provokes our thought process to do better and this is expressed in our actions. Motivation is one of those strong forces which determines us to follow our path and helps us to get the required results.

Thirdly, Efforts are intrinsic to achievements. We must put in the required efforts and work hard, in accordance with our goals and desires to reach the light of success. When we ensure that the means of our goals are being fueled by us, ends are bound to be at our disposal.

Fourthly, being Stress-free and addressing our feelings of anxiety will put us in a position to perform better in all spheres of life. The mind must be relaxed and at peace, for the body to work according to our expectations. The mind must be free from all thoughts of tension for the body to do better.

Finally, it is crucial to retrospect oneself and take all kinds of failures or criticisms in a constructive manner. Retrospection helps us in understanding ourselves and developing the required skills while accepting our failures assists us in ensuring we keep trying better than always.  In doing so, one ensures to be better versions of oneself and therefore, this outlook helps one to reach the desired end.

Success might be a long road and a lot of efforts are required but, believing oneself and constantly trying to be better helps us to reach the destination we are aiming for.

Indian macroeconomic situation bleak, set to worsen if lockdowns continue: Jean Dreze

2
SBI have pegged the growth forecast for January-March at 2.5 percent and for 2020-21 at 2.6 percent given the effect of COVID-19-driven lockdowns,
SBI , Growth forecast for January-March at 2.5 percent and for 2020-21 at 2.6 percent, COVID-19-driven lockdowns,

New Delhi, Apr 5 (PTI) The Indian macroeconomic situation is bleak and all set to get worse if local or national lockdowns continue for some more time, renowned economist Jean Dreze said on Sunday.

Dreze further said that due to the country-wide lockdown, social unrest in many parts of India has already started.

The country is under a 21-day lockdown as part of larger efforts to curb spreading of coronavirus infections.

“The situation is bleak and all set to get worse, if local or national lockdowns of varying intensity continue for some time, as is likely to happen.

“Even otherwise, the world-wide recession is likely to have adverse affects on the Indian economy,” the Belgian-born Indian economist told PTI in an interview.

Talking about the impact of the coronavirus outbreak on the Indian economy and job creation, Dreze noted that some sectors are badly affected, but segments like medical care may even grow during the crisis.

“Most sectors would be unable to thrive if others are not in good shape.

“… It’s like, if a bicycle has a puncture, you cannot expect it to move forward on one wheel. In short, if the crisis lasts, it will spread to most parts of the economy, including the banking system,” he emphasised.

Observing that as soon as the lockdown is relaxed, migrant workers who are marooned in different parts will try to return home, Dreze pointed out that they will probably hesitate to migrate again for a while.

“But there is hardly any work for them at home, except for some farming if they have land,” he said, adding that because of reduced migration, sectors that rely heavily on migrant labour may face a shortage of manpower.

Pointing out that already there are reports of shortage of labour for wheat harvest in parts of north India, Dreze said, “This is the paradox of this situation, that shortages and surpluses may coexist, because the circulation channels have been severely disrupted.”

Asked whether it is the right time to go for Universal Basic Income (UBI), he said this is not the time to reinvent the wheel.

“That is why it is best to build on existing schemes for now, including the public distribution system and social security pensions.

“… In other contexts, UBI may be feasible and appropriate, but in India today, it is a distraction,” Dreze, a former member of the previous UPA government’s National Advisory Council argued.

Several international credit rating agencies have cut growth estimates for India in recent days on concerns about the fallout of the Covid-19 outbreak.

According to Fitch Ratings, India may post in 2020-21 a GDP growth of 2 per cent, the slowest since the economy was liberalised 30 years back. Asian Development Bank (ADB) sees India’s economic growth slipping to 4 per cent in the current fiscal (April 2020 to March 2021), while S&P Global Ratings last week further slashed GDP growth forecast for the country to 3.5 per cent from the previous downgrade of 5.2 per cent.

Moody’s Investors Service has also slashed its estimate of India’s GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent, saying the coronavirus pandemic will cause unprecedented shock to the global economy.

Source: PTI

Is Nifty on a way to make fresh run downside? Scary one!

0
Monthly technical chart of Nifty shows the formation of the descending triangle and is looking for breakout in either direction.
NIFTY, Descending Triangle

Today Indian market reversed most of yesterday’s gain.In a volatile seesaw week , Nifty and Sensex lost around 4% in today’s session.Nifty also formed a bearish candle.Now big question arises…..            Is Nifty a way to make fresh runs downside? Scary one!

Monthly technical chart of Nifty shows the formation of the descending triangle. Nifty is trading near support level since the last couple of days and is likely to break either up or down. 

We believe there is a high probability the Nifty will break down and make new lows.

Nifty is witnessing strong selling pressure each time it is trying to bounce back. 

Trend analysis showed the dominant trend is downwards.

Strong bear candle on Candlestick pattern

Formation of new downward trend line with new tops are lower than previous one which is one of the characteristic of bear market..

Today Nifty found support near 8200 (Today’s low 8,198.35), recovered and closed the day at 8,253.80 down -343.95 (-4%).

We have to look for an 8200 level tomorrow. If Nifty breaks it decisively ,it will likely lead to a new downturn.

India is also facing a rising trend of Corona Virus infected cases.India’s and world’s GDP is slowing in last couple of months. Corona Pandemic ex expected to slow it further.

Global economy already in recession on coronavirus devastation: Reuters poll

Latest stat shows India is having 1974 with 339 new cases.Globally also infected cases are just below 9,00,000. Global market also closed in red today. All major European indices closed more than 3% down.

In case of a fresh down leg , Nifty is likely to find strong support around 7500.It is a level from which Nifty had bounced back recently.

Energy stocks gain helps NIFTY and SENSEX regain bull momentum

0
Energy stocks HPCL and BPCL sparked as the energy index closed the day with 6.95% gain.RBL bank and IndusInd bank closed with sharp cut in prices.
Crude Oil, HPCL, BPCL

Indian stock market started today’s session with a gap up opening.Initial 30 minutes saw profit booking and pushed both indexes down. But both indices recovered as the day progressed to close the day higher.Rally was led by energy and metal stocks, supported by pharmaceutical and FMCG stocks.All sectoral index closed the day in green today.RBL bank and IndusInd bank closed with sharp cut in prices.

Energy stocks shine today following Monday’s steep cut in broader market.Energy index closed the day 6.95 % . Stocks of petrochemical distributors HPCL and BPCL sparked with more than 12% spike in prices.Gail, Reliance, ONGC and IOC also rallied 5 – 8%. Falling crude prices due to weakening demand in the Corona pandemic and price war between major oil exporters are expected to boost these stocks.

Energy stocks shine today following Monday's steep cut in the broader market.HPCL and BPCL sparked  as the energy index closed the day with 6.95% gain.
Energy stocks, Source: NSE

The price of oil has sunk to record low levels not seen since 2002 .Brent crude fell to $22.58 (£18.19) a barrel at one point on Monday.

IndusInd bank was the top loser, closing 15 % down at350.80.Banks market cap now is less than 24,32,9.23 crores following today’s loss. Another private bank, RBL bank  suffered a 9 % price cut. Both banks are trading 80% below its 52 high ( IndusInd bank : 1,823.75and RBL Bank : 716.40). Bandhan bank was another top loser in today’s trade. Bank nifty closed the 1.9 %/ 361.6 points higher. Bank of Baroda, SBI bank and HDFC bank gain 3-6%.

Metal index also closed 5% higher. Sail led the rally with 12 % price rise.Hindalco, Hind copper, Tata steel , Hindustan Zinc and Vedanta gained 5-7%.

Tomorrow’s market is expected to witness resistance around 8640-8680 and likely to remain rangebound.

IRCTC : Next multibagger stock to buy in 2020 bear market.

0
E-ticketing and catering services account for almost 80 percent of IRCTC profit.Company enjoys monopoly in its business in India.
IRCTC

Indian Railway Catering & Tourism Corp Ltd ,well known as IRCTC is a Central Public Sector Enterprise (CPSE) under Ministry of Railways, Government of India. It is “Mini Ratna (Category-I)” CPSE and was incorporated on 27 th September, 1999. E-ticketing and catering services account for almost 80 percent of IRCTC profit.Company enjoys monopoly in its business in India.

What are the core business activities of IRCTC?

  • Catering & Hospitality
  • Online Ticketing
  • Travel &Tourism
  • Packaged Drinking Water sold as Rail Neer

Highlights of business activities:

  • It is the only company providing hospitality services in more than 460 passenger trains on board . 
  • IRCTC also manages Refreshment rooms, Jan Ahaars and Cell Kitchens on railway platforms and is engaged in providing quality food at affordable rates.
  • To attract high income group customers, it has opened 8 Executive Lounges in the railway stations at Visakhapatnam, New Delhi, Vijayawada, Agra Cantonment, Jaipur, Ahmedabad, Madurai and Sealdah .
  • It’s e-ticketing service account for 70% of reserved tickets booked online in 2018-19 on Indian Railways and contribute most to operating profit of the company. 
  • Cumulative production capacity is 11,64,000 bottles per day from 11 Rail Neer plants.

IRCTC reported profit of 270.42 crores rupees before tax in dec 2019 quarter, growth of 240% in comparison to Dec 2018 quarter. In 2018 ,dec quarter company had reported 112.42 crores profit before tax.

E-ticketing and catering services account for almost 80 percent of IRCTC profit.CPSE firm IRCTC enjoys monopoly in its business in India.

E ticketing and catering services account for almost 80 percent of IRCTC profit. It got listed on 14 oct on bourses at huge premium to IPO price of 315 to 320 rupees per equity share. Stock got consolidated in trading range of 880 to 1020 between nov to Jan end. After upward breakout from the consolidation range ,IRCTC climbed to hit high of 1995.00 on strong profit earning.

In current bear market scenario,IRCTC also have witnessed significant correction. On Friday, it closed the day at 898.95 with gain of 42.80 points (5.00%).Stock is currently trading below its 26 days EMA and according to RSI (28.95) is oversold.

E-ticketing and catering services account for almost 80 percent of IRCTC profit.Company enjoys monopoly in its business in India.
IRCTC, Multibagger stock. NSE

In support to 21 lockdown announced by Indian government , Indian railways have stopped operating passenger trains which expected to have negative impact on IRCTC’s revenue and profit.However, Indian Railways is running its freight train 24/7 to ensure the supply of essential commodities like food grain, milk, fruits & vegetables, sugar, edible oil, petroleum products and coal across the country.

E-ticketing and catering services account for almost 80 percent of IRCTC profit.Company enjoys monopoly in its business in India.
IRCTC

IRCTC’s twitter handle is engaged in increasing the awareness level of Corona virus through it’s large follower base.IRCTC have 226.1K followers on microblogging site,Twitter.

Use internet, mobiles to reach out & stay connected & help to spread awareness about Corona Virus.

E-ticketing and catering services account for almost 80 percent of IRCTC profit.Company enjoys monopoly in its business in India.
IRCTC

Long term investors should start accumulating IRCTC at current levels and should add more in case of further fall. Once market condition improves , it is likely going to outperform the market due to the monopoly it enjoys in its business.

2020 bear market is worrisome and going to be worst one?

0
2020 Bear Market, financial crisis, Corona pandemic
2020 Bear Market, Corona Pandemic, Financial Crisis, non performing assets

Indian indices have witnessed a drastic fall in recent months. Nifty 50 has corrected nearly 30 % from it’s high of 12340.5. In doing so NIFTY had given all the gains it had achieved in the last 3 years.Decline in the 2020 bear market is much steeper than one we experienced in the 2007- 2009 financial crisis. Is the 2020 bear market due to Corona pandemic going to be the worst we have experienced?

bear market,NIFTY
NIFTY, BEAR MARKET ( Monthly chart from 1998 to 2020 )

NIFTY hit new 52 weeks low of 7511.10 on 24 March and have rallied more than 1000 points in just 4 trading days.Nifty closed at 8,660.25 on 27 march.This kind of rally are common in bear market.These rally can be harmful if market continue its bear trend and result in Bull trap. Bear trend is more likely to continue as the underlying culprit for the start of bear market has not changed yet and is going to be worse in coming days.

What is responsible for the steep fall in Indian market?

India is fighting its own financial crisis along with Corona virus.

1. Corona Pandemic: Major global markets are trading at a huge discount to their recent high and are in bear territory. Corona infected cases have already crossed 6.5 lakh and the trend is not going to show any decline in coming days. Epicenter of corona is currently in Europe which hosts the world’s most economically rich countries having enough resources to deal with the virus.But speed with which the virus is spreading and causing severe illness these major economies also have come to standstill. Suddenly healthcare services are looking inadequate.NHS in the UK is one of the most efficient healthcare service providers in the world.

Corona dashboard

As per the latest stat India is the only country in the top 10 world’s largest GDP countries who have effectively controlled Corona virus. India has only 0.81 cases per million population.

Here comes the main problem and which is alarming.

In just 1024 cases ,Indian stock market has given approximately 28 percent negative return. If coronavirus becomes wild in India , what will happen to the stock market.Small and mid cap are going to get hammer badly along with index stocks.

NIFTY already tested its major support level around 7500 with low of 7511.1. In the short term it forms important support level.Next support levels 6962 and 6190. In the worst case scenario NIFTY can drop up to 2700 level with which it had found support in the financial crisis of 2007-09. Chances of it will increase if NIFTY breaks is 2007 high of 6190 decisively.

2. Financial crisis and increase in bankrupt companies list

India has been facing its own financial crisis since the last few years. But the stock market was doing better till the start of 2020. Number of financial companies have been reported with frauds and poor risk management.IL & FS, Yes bank, DHFL, Punjab & Maharashtra Co-operative Bank Limited (PMC bank). Anil Ambani led groups companies are having a massive pile of debt burden and are facing difficulty in repaying on time. India’s leading private player in aviation Jet Airways had to shut operation and went bankrupt.

RBI has cut key rates 5 times in last year and once in 2020 to keep India’s growth story intact and support liquidity to spur economic activity. Banking systems in India have a huge pile up of non performing assets. According to one of the leading publishers in India , non performing assets( NPA ) could be more than Rs 9.5 lakh crore.

Hope for the best in coming days! For Acche din ,we all have to get aware about Corona and support the government and local authority to mitigate it’s spread.

Novel Corona Virus COVID- 19 : Brief info and resources.

11
Novel Corona Virus, COVID - 19, Critical illness, Severe illness
Novel Corona Virus, COVID - 19

Novel Corona Virus was first reported in Wuhan city in China ,in December end 2019.Since then it spread across the globe in just a span of two months.COVID -19 is a zoonotic virus. Zoonotic means animals carry the virus and spread it to humans.Critical illness is seen in 6.1 % patients.

Clinical features of Novel Corona Virus infection:

Most cases are seen within 4-5 days following exposure but it can be delayed up to 2 weeks.

Most infected people with coronavirus have mild disease and these patients recover well.

Severity of illnessIncidenceClinical manifestations
Asymptomaticrelatively rareno symptoms
Mild to moderate80%non-pneumonia and pneumonia cases,
Severe13.8%breathlessness, respiratory rate ≥30/minute, blood oxygen saturation ≤93%, PaO2/FiO2 ratio <300, and/or lung infiltrates >50% of the lung field within 24-48 hours
Critical6.1%respiratory failure, septic shock, and/or multiple organ dysfunction/failure
Corona Virus Infection

What are the risk factors for severe illness and death due to COVID – 19?

Age more than 60 years ,chances of dying increases with age

Diabetes

Hypertension

Cardiovascular diseases

Cancer

Chronic respiratory diseases.

Common symptoms :

fever (98.6%) most common symptom, 

fatigue (69.6%), and 

dry cough (59.4%). 

Breathing difficulty and loss of appetite is more common in patients with severe or critical illness patients admitted in ICU.

How is it diagnosed?

A nasopharyngeal swab is collected for analysis with reverse-transcription polymerase chain reaction to detect RNA of virus.

Blood investigations can may show reduced lymphocyte count , prolonged prothrombin time , and elevated lactate dehydrogenase 

Imaging with chest CT in symptomatic patients shows bilateral patchy shadows or ground glass opacity in the lungs.

Protective measures against CoronaVirus recommended by WHO

Regularly and thoroughly clean your hands with an alcohol-based hand rub or wash them with soap and water.

Maintain at least 1 metre (3 feet) distance between yourself and anyone who is coughing or sneezing.

Avoid touching eyes, nose and mouth.

Seek medical care early, if you have fever ,cough and breathing difficulty.

Stay informed on the latest developments about COVID-19. Follow advice given by your healthcare provider, your national and local public health authority.

Corona Virus pandemic have wipe out trillions of money from world’s stock market in last few weeks.It is also expected to caused drastic fall in world’s GDP.

Read five steps to kicking out CoronaVirus here

If someone is looking for more info please visit following trusted resources:

Corona Virus disease 2019

See latest update on Corona virus situation worldwide here

World Health Organisation ( WHO )

Get answers to your common questions here

Centers for Disease Control and Prevention ( CDC )

United Nations (UN)

Market lose early gain despite cut in key rates by RBI

0
cut in key rates, repo rate, reverse repo rate, RBI, policy meet,
RBI, Policy meet

Indian market started the day with positive note with major indices gaining more than 2%. Nifty traded initial hour of trading above 8900 and SENSEX above 30000.Today RBI announced a cut in key rates to increase liquidity in the market in a policy meet .Despite cut in key rates, NIFTY and SENSEX gave away early gains.Yesterday Finance minister Nirmala Sitharaman announced 1.7 lakh crores relief packages to fight against Corona virus.

Key highlights of RBI meet :

  • Reduced the repo rate by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect;
  • Marginal standing facility (MSF) rate and the Bank Rate stand reduced to 4.65 per cent from 5.40 per cent;
  • Reduced the reverse repo rate by 90 basis points to 4.0 per cent;
  • To support growth maintaining medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent;
  • Increasing probability that large parts of the global economy will slip into recession;
  • Emerging and advanced economy currencies are experiencing severe depreciation pressure.

Currently market is experiencing selling pressure on every rise in prices.After yesterday’s blockbuster day,IndusInd started day with more than 15 % but lose stream after RBI policy and currently trading 6 % down at 410.8. Axis Bank is holding on gain and trading more than 10 % gain at 383.Axis bank hit intraday high of 409.45.

IndusInd bank, Maruti, Bajaj finserv and Bajaj finance have witnessed more than 5% cut in prices and are trading near days low. Market is expected to remain choppy in the coming days with negative bias.

Bank NIFTY is trading flat having given away days gain.Bank NIFTY had hit a high of 21,462.40 in early morning session. Last it traded at 19,617.55. Bandhan bank and Axis bank are trading higher with gain of more than 5%.

Nifty Auto index is trading 3% lower. Bharat forge,TVS motor, Maruti , Hero motocorp and Eicher motors are major losers having lost between 4 to 6%.

Market is on a way to end its three days positive run.In last three trading days ,NIFTY have gain more than 15%.Interest sensitive sectors like Banks,Realty and auto sectors are expected to hit hard by 21 days lock down despite cut in key rates.

Market gained for third consecutive day on stimulus measures

1
Oower is a Content sharing tool to discover the daily life happenings in global economy ,stock market, express opinions & reviews.
OoWER: Just say it!

Indian major indices NIFTY and SENSEX continued their rally for the third day on government’s announcement of stimulus measures. NIFTY closed at 8,641.45 with 323.60 points (3.89%) gain while SENSEX closed at 29,946.77 with gain of 1,410.99 (4.94%).IndusInd bank was the buzzing stock of the day with more than 46 % gain.

Now NIFTY is trading more than 1000 points from its 52 weeks low of 7,511.10, which was made on 24 march.It means NIFTY has gained 15 percent from its 52 weeks low in just three days.

SENSEX is trading more than 4000 points from its 52 weeks low of 25,638.90. Sensex is trading16 % higher than its 52 weeks low.

Today’s rally was led mainly by interest rate sensitive stocks such as banking and financials ,realty stock. These stocks have been badly hammered in last few weeks.IndusInd bank stock shine with 46% gain.IndusInd bank stock is now trading almost 87% higher than its 52 weeks low price of 235.55.Despite gaining so much ,stock is trading way below its year high of 1,834.40.

Larsen and Toubro, Bajaj finance, Bharti Airtel, Hero motocorp gain around 7- 10%.Gail,HCL tech and Sun Pharma was top losers in today’s trade.Reliance saw some profit booking and closed 13.25 down at 1069 after yesterday’s rally.Total 39 stocks advanced and 11 declined in today’s trade in NIFTY.In SENSEX only 4 out of 30 stocks closed in the red.

Finance minister Nirmala Sitharaman announced 1.7 lakh crores relief packages to fight against Corona virus. These relief measures are especially meant for helping poor.

Key highlights:

  • Insurance cover of Rs 50 Lakh per health worker fighting COVID-19 to be provided under Insurance Scheme
  • 80 crore poor people will to get 5 kg wheat or rice and 1 kg of preferred pulses for free every month for the next three months
  • 20 crore women Jan Dhan account holders to get Rs 500 per month for next three months
  • Increase in MNREGA wage to Rs 202 a day from Rs 182 to benefit 13.62 crore families
  • An ex-gratia of Rs 1,000 to 3 crore poor senior citizen, poor widows and poor disabled
  • Government to front-load Rs 2,000 paid to farmers in first week of April under existing PM Kisan Yojana to benefit 8.7 crore farmers
  • Central Government has given orders to State Governments to use Building and Construction Workers Welfare Fund to provide relief to Construction Workers

But today’s announcement, no specific measures were announced for the revival of the economy . Some measures may be expected to come in a few days time as GDP growth is expected to fall after implementation of 21 days lockdown across India.

It’s a Black Monday! 31 Index Nifty stocks hit a new 52 weeks low.

0
Black Monday, Corona Pandemic
Black Monday, Corona Pandemic

No respite from Corona pandemic! It’s again black Monday for Dalal street. Banking and financial stocks especially Axis Bank, Bajaj finserve were the worst hit and both suffered nearly 27 % loss.

Till afternoon total 415 corona positive cases are being reported in India causing 7 death.

Indian stock market opened gap down on weak global cues and growing concerns due to Corona pandemic. Sensex hit lower circuit in first hour of trading and hence trading was halted for 45 minutes. Today it was truly black Monday, as 31 of NIFTY stocks hit a new 52 weeks low.

All sectoral indices ended the day in red. Banking, financials and auto stocks were most badly hurt and collapsed around 15 %.All Nifty and Sensex stocks ended in red. In today’s blood bath 31 stocks hit a new 52 weeks low.

Sr NoIndexCloseLoss
1Nifty7,610.25-1,135.20 (12.98%)
2Sensex25,981.24 -3934.72 (13.15%)
3Bank Nifty17,018.35-3,299.25 (16.24)
Major Indices

Let’s have a look at stocks which hit a new 52 week low.

Sr NoStock52 week low% loss
1Coal India120.053.95%
2NTPC73.205.23%
3M & M280.607.08%
4Tata Steel253.558.63%
5Sun pharma315.059.1%
6BPCL262.309.41%
7Shree cement16,068.159.54%
8Hero Motor1,520.0011.05%
9HDFC bank765.0011.77%
10Reliance875.6512.47%
11Britannia2,100.0012.6%
12SBI180.2513,3%
13TATA Motors66.0013.71%
14Titan771.2513.84%
15Tech Mahindra471.4014.13%
16Bajaj Auto1,900.0014.42%
17Eicher motors13,326.7014.76%
18Hindalco84.9014.88%
19UPL240.1515.23%
20Adani ports203.0016.15%
21Vedanta (VEDL)61.6516.5%
22LT706.0016.62%
23JSW Steel136.1016.98%
24Grasim397.0517.65%
25Maruti4,141.0017.74
26ICICI Bank280.0018.31%
27ZEEL115.9519.98%
28Bajaj finance2,225.0022.73%
29IndusInd330.1023.92%
30Bajaj Finserve4,449.0027.48%
31Axis Bank302.0027.6%
New 52 weeks low

Trading halted for 45 min as SENSEX hit lower circuit

1
Sensex surged over 500 points in opening trade led by gains in Reliance Industries, HDFC duo and ICICI Bank amid thin trade in Asian markets.
SENSEX

Sensex hit lower circuit around 10.13 causing exchange to halt the trading for 45 min.Sensex was trading at 26,924.11 ,down 2991.85 points(-10.00%) and NIFTY at 7,903.00 down 842.45 (-9.63%) when last traded.Bank nifty is down 12.7% (2588.3 points) at 17729.3. Axis bank and ICICI bank were the worst hit.

Indian stock market opened gap down with a huge cut after Friday’s rally.NIFTY opened the day at 7,945.70 while SENSEX at 27,608.80. Both indices tried to recover but it lasted just for 5 min. Since then both NIFTY and SENSEX saw free fall.

Bank, financials, auto and reality stock were the worst hit.All Nifty and Sensex stocks are trading down.

In Nifty, Axis bank,IndusInd bank, ICICI bank and Adani Ports are trading down with more than 15 % cut in prices.While in Sensex Axis bank and ICICI bank saw more than 15 % cut in prices.

Crude oil prices halved but prices of petrol & diesel just corrected less than 10%.

1
The government hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore revenues.
Representative Image, Photo by Skitterphoto on Pexels.com

Global Crude oil prices are seeing significant correction since the beginning of 2020. Brent crude oil had hit the 2020 high of $70.74 on 6 Jan.It had reached a 52 weeks low of $24.52 on 18 March. Currently its trading around $27.3.Indian crude oil basket for 1 bbl closed at 1938 rupees on 20 march.One barrel is equal to 158.98 lit.Today petrol cost 69.59 rupees in Delhi and diesel .Government is using falling crude oil prices to achieve revenue target by increasing excise duty.

It means global Brent crude oil prices have almost halved since the start of 2020.It saw steep correction after world’s biggest oil exporter Saudi Aramco announced price cut in crude and entered price war on breakdown of alliance talk with OPEC members and Russia.Corona pandemic. Aramco is also increasing crude oil production to increase the supply.Corona pandemic also has contributing to the situation with meltdown in global stock markets.

But why petrol and diesel prices have not seen so much price cut?

One may wonder as petrol and diesel prices in India are synced with global crude prices. Oil distribution market in India is predominantly dominated by government run PUC companies like IOC,HPCL,BPCL.

Let’s have a look how petrol and diesel in Delhi have performed in the last three month.

Sr NoPetrol (in rupees)Diesel (in rupees)
1 Jan75.1467.96
1 Feb73.1966.22
1 March71.7164.30
Petrol and Diesel prices

It means petrol and diesel prices in India have just reduced by less than 10 % in three months.Though Brent crude oil and Indian crude oil prices have almost halved in the last three months.

Government last week increased excise duty on petrol and diesel prices by 3 rupees to increase the revenue. It means consumers are unlikely to benefit significantly from the falling crude oil prices. If crude prices corrects further , we may see another excise duty hike in coming days.

Corona pandemic is likely to reduce world GDP including India.In fact .Oxford economic have outlined two possible scenarios based on Oxford Global Economic Model: a) the pandemic is limited to Asia, and world GDP falls $0.4tn (0.5%) in 2020 b) In a global pandemic, it drops $1.1tn (1.3%). Revenue correction will also likely to drop along with GDP .Thanks to falling crude oil prices , the government is using it effectively to mitigate revenue shortfall.

Stock market bounced back from early loss , posted huge gain.

1
Sectoral indices,Stock market bounced back
NIFTY, SENSEX, Sectoral Indices

Stock market rally from days low, ending this week’s bearish trend. All sectoral indices ended the week on positive notes.NIFTY closed the day above 8700 and SENSEX ABOVE 29900.

NIFTY opened the day on a positive note following global clues but turned bearish for a while and kept on rising through the day.It hit a high of 8883 points in the afternoon session. Last 2 hours saw extremely volatile sessions and saw swings of more than 300. Finally it closed the day with 482 (5.83%) higher than yesterday’s close.

Sensex also ended day on high note at 29,915.96 (+1627.73 +5.75%).Only HDFC bank and IndusInd bank saw drop in prices.Sensex rally was predominantly led by ONGC, Ultratech, HUL, Reliance; each of them rising more than 10%.

Today’s stock market bounced back was led by energy, IT, FMCG and metal stocks. Bharti infratel was the biggest gainer with 22.6 % gain followed by ONGC (+17.7%) and GAIL (16.4%).

Bank nifty had extreme volatility and saw swing of 1659.5 points from days low. It closed marginally up at 191.05 (+0.95%).Bandhan Bank was top gainer with 17 % spike in price. Surprisingly Sectors leaders such as HDFC Bank, Axis bank,IndusInd bank and RBL bank closed in red losing between 0.76 – 3.73 %.

Let see how sectoral indices performed today.

Sr NoSectoral indicesGain/loss
1Nifty Auto+3.71%
2Nifty Bank+6.65%
3Nifty Energy+8.81%
4Nifty Financial Services+2.96%
5Nifty FMCG+8.77%
6Nifty IT+8.52%
7Nifty Media+3.42%
8Nifty Metal+7.68%
9Nifty Pharma+4.07%
10Nifty PSU bank+1.81%
11Nifty Realty+2.33%
12Nifty Private bank+1.11%
Sectoral indices

Low risk investment strategies for the bear market

0
low risk investment strategies for bear market
Photo by Pedro Figueras on Pexels.com

A bear market is referred to a fall in the stock market prices below 20 % from its recent high.Bear market can considerably erode the wealth of investors in a very short time.But smart investors can generate profit or restrict their losses to minimum from the falling stock prices by using low risk investment strategies.Let’s have a look on strategies for the bear market:

Buy a put option: A put gives the holder of it the right, but not the obligation, to sell a defined amount of the underlying security at a certain price at or by a certain date. It has the potential of  infinite returns in a falling market scenario. Risk is minimum to premium paid for buying the put option. High net worth investors can use it to hedge the large position in particular share to keep the losses minimum if bears dominate the market

Buy defensive stock: Buy shares from defensive sectors such as fast moving Consumer goods and pharmaceuticals/ healthcare stocks. These sectors commonly have low beta stocks and witnessed less catastrophe during the bear market.Avoid risky stocks such as reality, automobiles, financials and metals.

Value investing: Value investors are one who buys out of favour stocks which are available at a cheap valuation and has very strong fundamentals.These stocks have tremendous potential of giving good profit when the market scenario changes to a bull market.

Diversification of portfolio: Diversification of portfolio into fixed income assets such as bonds, gold and shares help to keep losses in check. In general precious metal such as gold and silver prices climb in falling stock market scenarios.

Invest in mutual funds: Mutual funds offer diversification and are usually managed by expert fund managers at a low cost. Fund managers pull together money from different investors and invest it in various verticals such as shares, bonds etc.

Start SIP (Systematic investment plan): If somebody is looking for low risk strategies for bear market, he or she must start or continue SIP in quality stocks. Monthly SIP helps to accumulate quality stocks over the time horizon. Over time it has exponential growth potential.During bear market stock prices fall and it provides a good opportunity to accumulate stock at a reasonable price.

Indices crashed again, NIFTY near 8.5k & SENSEX below 29k.

0
Sensex soared over 900 points in opening trade tracking heavy buying at ICICI Bank, Infosys, HDFC twins and Reliance Industries amid rally in global stocks.
NIFTY, Sensex

All major indices crashed today; led by Banks, financials, reality and auto. closed the day at 8541.50 with 4.75% dropped in points. NIFTY started today’s session with brief gain but turned negative and kept on losing whole day. It reached new intraday 52 weeks low at 8,407.05.SENSEX also crashed more than 5 % to close at 28,869.51; down 1,709.58 (5.59%).

Now, both NIFTY and SENSEX are now trading near early 2017 levels. In just a month both indices have crashed to erase three years gain.

NIFTY:

44 stocks declined while 6 advanced in today’s session. ZEE entertainment enterprises limited (ZEEL) was the biggest gainer with 34.9 point (26.22%) spike in price.ZEEL closed the day at 168.00. Yesterday ZEEL had declined by more than 20%.Yes bank also continued its rising trade with gain of 4.18%.

Banking stocks and financials were biggest loser of the day led by IndusInd bank, Kotak Bank and twin Bajaj group of companies i.e .Bajaj Finserv limited, Bajaj Finance limited. Automobile companies especially Hero motocorp, M & M , Eicher motors,  Maruti also ended in red with losses from 3-8%.

SENSEX:

In 30 SENSEX stocks only ONGC and ITC closed in green. ONGC closed at 65.95 with gain of +5.90 (+9.83%). On 16 March,ONGC had declared 5 rupees interim dividend.

Yes bank’s share jumps more than 55 %

2
Share reached intra day high of 63.56 in early trading hours.
Yes Bank

Yes bank shares jumped more than 55 intraday and is currently trading at 55.70 with a gain of 20.70 points. Share reached intra day high of 63.56 in early trading hours. In the Dec quarter result company had announced it’s gross NPA has increased to 4,070,920 lakh rupees (18.87%).

Private sector lender’s share is on rise since it reached a low of 5.65 on 6 march after Government’s approval of SBI led consortium to rescue cash strapped bank. India’s largest public sector bank is investing 7500 cr for 49 percent stakes in Yes bank.

Bank had reported on 14 march huge losses of 18,560.31cr for dec quarter.Bank is having gross NPA 4,070,920 lakh rupees (18.87%) and net NPA 1,111,472 lakh (5.97%) . In the Dec quarter of 2018 , the bank had gross NPA 515,862 lakh rupees (2.10%). It means companies’ non performing assets have increased almost 8 times in the last 12 months.

Image source: Yes Bank

Indus Ind bank and IDEA jumps more than 45 % intraday.

0
Indus Ind Bank and IDEA jumps more than 45 % form intraday low
Indus Ind Bank, Idea, Market capitalisation
Share prices of two stocks IDEA and Indus Ind bank witnessed gain of 46.4% and 48 % from intraday low respectively.
Source: Indus Ind Bank

On 13 March 2020, NIFTY and Sensex saw historical intraday recovery from days low. Share prices of two stocks IDEA and Indus Ind bank witnessed gain of 46.4% and 48 % from intraday low respectively.

Pune based private lender Indus Ind bank jumped more than 250 points from days low. Stock opens day at 724, dropped to reached 52 weeks low at 551.10. It recovered and closed the day at 807.3 with 2.89 % gain . Share prices recovered almost 46.4 percent from days low during volatile trading session. Private lender have market capitalisation of 55,98,831.28 lakh at close. It means bank added 25,97,857.71 lakh in its market capitalisation intraday.

IDEA shares also closed the day with gain of 35.71 % at 5.70. Idea shares had dropped to 3.85 during early hours of trading.IDEA shares saw gain of 48 percent from days low. Telecom stocks were trading higher over speculation of possible reliefs package for the sector from government.

Corona Virus effect: World’s major stock markets turned bear !

3
World's major stock markets turned bear !
COVID-19 (WHO)

Major stock markets turned negative due to fear of Corona virus on global growth.Oxford economic in its forecast had said, In 2020 global growth will slow to just 2.3%, its weakest since 2009 . World health organisation had alarmed Novel Corona virus COVID -19 outbreak as Pandemic. World Health Organisation (WHO) defines pandemic as a worldwide spread of a new disease.

COVID -19 have already affected more than 1 lakh people.Although recent data suggest its growth is slowing down in China .Corona virus cases had erupted in Wuhan ,China in December last year. Recent WHO data suggest 1,24,847 confirmed cases of COVID-19 span over 118 countries /areas or territories.

World’s major stock market turned bear and are witnessing sharp drop in last couple of days and have turned bear.Bear markets are defined as more than 20% decline in stock prices from near-term highs.

Sr No.IndexLow 1 Month Percentage change
1Dow Jones21,297.88– 26.60
2S & P2,500.65– 25.66
3NASDAQ7279.95– 24.29
4NIKKEI 22518,342.7– 21.64
5FTSE 1005243.2– 29.42
6CAC4,025.89– 32.47
7DAX9139.12– 32.08
World’s Major Stock Indices

Surprisingly China’s Shanghai Composite have given 1 month positive return at 0.75% and negative return of only – 2.93% for week.

In todays trade, major European market crashed more than 10 percent in response to announcement of suspension of travel from Europe to contain Corona virus by U.S. President Donald Trump. All major US indices are also trading more than 8 percent down.

NIFTY and SENSEX both suffered huge losses in today’s trade due to fear of rising cases of Corona virus in India and weak global clues. NIFTY closed day at 9590.15  with drop of 868.25  points (-8.30%), while SENSEX closed 2919.26 points down at 32778.14 (-8.18%). Index heavyweight like HDFC,HDFC Bank, Reliance industry and ICICI bank contributed most to today’s SENSEX fall.

International Women’s Day special: Richest women in the world!

0
Richest billionaires
Richest women, wealthiest women in the world, International Women's Day
Abigail Johnson

International Women’s Day is celebrated on the 8th of March every year.This year’s theme for Women’s Day is, I am Generation Equality: Realizing Women’s Rights.” On this Women’s day we will have look on wealthiest women in the world

World billionaire’s list is predominantly dominated by mens over the years.But now world is changing and in 2020 ,there are 11 women in Top 100 Worlds billionaires list based on 7 March net worth.(Source : Forbes)

Lets have look on wealthiest women in the world on International Women’s Day:

1) Francoise Bettencourt Meyers:

Richest woman in the world is granddaughter of L’Oreal’s founder Eugène Paul Louis Schueller.

Her net worth is estimated around $56.6 and Rank 15 in top 100 billionaires list.

2) Alice warton :

She is richest billionaire in United states and is only daughter of Walmart founder Sam Walton.

ALice Warton is having net worth of around $52.4B.

3) Jacqueline Mars :

Jacqueline Mars own estimated one third of the world’s largest candy maker, Mars.

Her net worth is estimated around $29.4B.

4) Yang Huiyan:

Yang Huiyan owns 57% of real estate developer Country Garden Holdings, Chiana. She is youngest women billionaires in top 100 list and richest women in Asia.

Yang Huiyan and family net worth is estimated 22.1

5) Susanne Klatten:

Susanne Klatten owns 19.2% of Munich based German automaker Bayerische Motoren Werke (BMW).

Her net worth is estimated around $20.2B and is second richest women in Europe . Francoise Bettencourt Meyers is richest women is Europe and world.

6) Laurene Powell Jobs :

Laurene Powell Jobs is wife of Late Apple founder Steve jobs.Her net worth is estimated at $22.7B and is predominantly contributed by stocks of Apple and Disney.

7) Abigail Johnson :

Abigail Johnson is CEO of Boston based giant, Fidelity Investments. Fidelity investments was founded by Her grandfather, Edward Johnson II in 1946.Abigail Johnson ranked seventh among the wealthiest women in the world.

Her net worth is estimated at $14.9B.

8) Charlene de Carvalho-Heineken :

Charlene de Carvalho-Heineken ranks 89 in world’s billionaires list , thanks to her 23% controlling stake in beer giant Heineken.She and her family is having estimated $15.8B net worth.

9) Gina Rinehart :

She is executive chairman of Hancock Prospecting and is richest billionaire in Australia.

Her net worth is $14.8B.

10) Kwong Siu-hing :

Kwong Siu-hing is having net worth of $13.3B and is a biggest stockholder of Hong Kong based real estate giant Sun Hung Kai .

11) Iris Fontbona:

Fontbona and her family control Chile based mining giant Antofagasta Plc.

She and her family have estimated $12.8B net worth.

Yes bank share dropped to record low at 5.65.

0
Nifty ,Sensex, Bank, Yes Bank, nifty closed below 9000
Photo by Pixabay on Pexels.com
dropped to record low,stock registered 52 week low
Yes bank

In early hours of trading, Private lender Yes bank stock prices dropped to record low of 5.65. Yesterday, share were closed at 36.8 .Stock registered 84.64 percent drop in the price for a day. Stock recovered 290% from day’s low and is currently trading at 16.4.

According to NSE data, lenders market capitalisation is just 4,18,277.45 lakhs rupees now.

In yesterdays, trade stock prices had zoomed by more than 27 percent after Government have created SBI led consortium to buy stakes in Yes bank.

Stock reacted today harshly to rating downgrade by JP Morgan .On 5 March, JP Morgan cut price target to just 1 rupees from 55 rupees earlier.In today’s trading,dropped to record low and stock registered 52 week low at 5.65. Yesterday, central government had put cap of 50000 rupees for withdrawal of money from the bank.

Worst is coming? Reality check!

1
Photo by Jakob on Pexels.com

Stock markets are experiencing volatile days with prices swinging on either side drastically.

Dow jones saw highest ever single day price gain in his history in point term (+5.10% or +1,296.81 points) . More than 5% gain have occurred only seven times since 2000 in Dow jones. Investors are getting some sense of relief after thrilling last week ,were Dow jones had lost by whooping 12 percent. It’s only on hope of world major central bank will cut rate to boost growth including Federal reserve. Fed can’t just cut fund rate in emergency every time when stock market blinks.Today after emergency fund rate cut ,fund rate stand at 1% . This level we had seen around March 2017, when economy was growing and Fed was increasing rates.

Only miracle for sustained rally in current scenario is : If something promising happens on the development of Vaccine for Corona virus.

Situation seems going to be worse in coming days if world fails to contain corona virus. World’s major economies are already facing decline in growth rate including USA, China, India etc in last few quarters; inspite of lowering of rates by major central banks.

When credit crisis erupts in August 2007 , US economy was growing at 1.876% in 2007. Fed reserve rates were 4.75 % in Sep 2007. US economy went into Recession in Dec 2007. Fed cut rates over the time to spurt growth rate, reduce unemployments and increase spending. Fed fund rate was just at 0.25 % in Dec 2008. Serial rate cuts, bail out (Bear stearns, AIG and bak bailout) and tax rebate helped US economy to come out of recession in June 2009. Between long time of 2008 to 2015 Fed fund rate were kept at zero.

2020 situation looks glimpse. There is not much room for the Fed reserve to cut rate from 1 % (after Todays rate cut of 0.5%) .GDP growth rate is already lower compared to previous two years.

201720182019
GDP growth rate2.4%2.9%2.1%
Unemployment4.1%3.9%3.5%
Inflation 2.1%1.9%2.3%
thebalance

One more reason investors need to worry is presidential election in 2020.Second term for Trump may provide some boost to market, But we don’t know the future; surprises….. are always there in catastrophe.

Where is NIFTY headed: Bear territory ? Or It’s just correction?

1
low risk investment strategies for bear market
Photo by Pedro Figueras on Pexels.com
Photo by Pedro Figueras on Pexels.com

Last week NIFTY dropped nearly 3.7 % .Global markets have witnessed drastic correction over the week on fear of impact of Corona virus.The Dow and S&P 500 each dropped 12% and 11% for the week, respectively. Its worst weekly performance since subprime crisis.

NIFTY had fallen 3.7% i.e 431.55 points in week. NIFTY is currently trading below 50,100 and 200 day SMA. It saw sharp gap down opening on Friday on poor global clues.NIFTY is expected to form support around 11075-11110 and next immediate support is around 10700-10750.In short term market is expected to trade in range with negative bias.

India’s economy is also not showing any encouraging signs with GP growth at 4.7% for Oct-Dec 2019 quarter.

Out of 50 stocks in Index NIFTY, 18 are trading near 52 week low (within0-7% range) , while only 4 are trading near 52 week high. Metal and Auto stocks saw drastic correction, especially Vedanta ( l3.56 %), TATA Motors ( 10.74%) are badly affected.

GDP Growth: Is Latest Corona pandemic fear real?

5
Corona Virus

World Health Organisation (WHO) defines pandemic as a worldwide spread of a new disease. Currently Corona virus is considered as epidemic. As of WHO data on 27 Feb , 46 countries have recorded confirmed case or cases of Corona virus.

Let’s have look on past pandemic and how it affected regional and/or global economy.

1918Spanish flu influenza pandemic20 million–100 million deathsGDP loss of 3 percent in Australia, 15 percent in Canada, 17 percent in the United Kingdom, 11 percent in the United States
1957Asian flu influenza pandemic0.7 million–1.5 million deaths GDP loss of 3 percent in Canada, Japan, the United Kingdom, and the United States
1968Hong Kong flu influenza pandemic1 million deathsUS$23 billion–US$26 billion direct and indirect costs in the United States 
1981HIV/AIDS pandemicMore than 70 million infections, 36.7 million deaths2–4 percent annual loss of GDP growth in Africa
2003SARS pandemic8,098 possible cases, deathsGDP loss of US$4 billion in Hong Kong SAR, China; US$3 billion–US$6 billion in Canada; and US$5 billion in Singapore
2009Swine flu influenza pandemic151,700–575,500 deaths GDP loss of US$1 billion in the Republic of Korea
2015Zika virus pandemic2,656 reported cases of microcephaly or central nervous system malformation US$7 billion–US$18 billion loss in Latin America and the Caribbean
Disease Control Priorities: Improving Health and Reducing Poverty. 3rd edition.

The Corona virus pandemic may heart Global economy badly .Oxford economic have outlined two possible scenarios based on Oxford Global Economic Model: a) the pandemic is limited to Asia, and world GDP falls $0.4tn (0.5%) in 2020 b) In a global pandemic, it drops $1.1tn (1.3%).

Oxford economic in forecast said, In 2020 global growth will slow to just 2.3%, its weakest since 2009 .

Sharp reaction to CPSE Index Changes

0
One of the world’s largest transmission utilities

Constitute of CPSE Index

Bharat Electronics Ltd, Coal India Ltd, SJVN Ltd, NBCC (India) Ltd,NLC India Ltd,NTPC Ltd, Oil & Natural Gas Corporation Ltd,Oil India Ltd, Power Grid and Cochin Shipyard .

Why CPSE Index was formed?

To facilitate Government of India’s dis-investment initiative; some of its stake in selected Central Public Sector Enterprises were traded trough ETF route.

Recent changes in Index is effective from 23 Jan 2020.

How market reacted?

Share prices of recently included CPSE i.e. Cochin shipyard, NHPC, NMDC AND Power Grid corporation are on sharp rise on hope of increase participation on institutional investors in coming days.While excluded Indian Oil Corporation and Power Finance Corporation have seen sharp decline in last few days. Share prize of Indian oil corporation is trading near 52 week low.

The bold move of a Cabinet Reshuffle. What does this hold in store?

0

Thirty-six new ministers joined the government and four high-profile ministers were made to quit in PM Modi’s mega cabinet reboot of 2021. The number of cabinet ministers has been boosted from 21 to 30 in the current reshuffle. The number of junior ministers has gone up too, from 23 to 45. There are fewer junior ministers with Independent Charge – the figure has dropped from nine to two. A number of key portfolios – including Health, Law, Information and Technology and Railways – have gone to new ministers and junior ministers who got a promotion in Prime Minister Narendra Modi’s Council of Ministers.

PM Modi now has 77 ministers, nearly half of them new. Anurag Thakur and Hardeep Puri are among 15 new cabinet ministers. Sarbananda Sonowal, Jyotiraditya Scindia, Narayan Rane, Bhupender Yadav, and Ashwini Vaishnaw were also sworn in as cabinet ministers.

Image
Credit :Twitter @ivinaykanchan

It appears that the Prime Minister has tried to re-seize the political initiative with his Wednesday reshuffle of the council of ministers. Since April, he has been on the back foot. When the second Covid-19 wave hit the country, many died reportedly from oxygen shortages and a general lack of government preparedness. Losing West Bengal also did not help, particularly when the Prime Minister and Home Minister had campaigned intensively in the state.

There was the inept handling of the second Covid wave, and Union health minister Harsh Vardhan has had to go.

There was mass migration last year, with lakhs trudging back to their villages, something India will take a long time to live down, and labour minister Santosh Gangwar was shown the door. 

Education minister Ramesh Pokhriyal was axed for the confusion that prevails in the education sector.

Communications, Electronics and Information Technology Minister, Ravi Shankar Prasad’s handling of the impasse with Twitter and the increased criticism of Modi on the microblogging site, may have cost Prasad his job. 

These are some of the ministers who lost their job and analysts have tried to figure the reason for that happening. As aforementioned, most ministers were apparently fired for their inability to perform their tasks efficiently. However, many analysts have also asserted that that all of this is nothing but an attempt to blame the ministers for all the mishap while the PM remains seeminly innocent of all the moral crimes the government did during and outside of the pandemic.

The new cabinet also saw a rise in ministers from the marginalized sections of the society such as women and the OBCs.

The Euro 2020 Trophy’s Going Rome and not Home

0
The Euro 2020 Trophy's Going Rome and not Home
Credit : Telegraph

The EURO 2020 tournament which took place in 2021 due to the pandemic had begun last month in the second week of July and concluded last night. In a tournament comprising of 24 top European national teams, it’s quite prestigious to win the title.

Defending champions Portugal was shown the doors earlier along with the current World Cup Champions France. This tournament saw many underdogs fighting their way towards the Knockouts and some even reached the Semis, such as Shevchenko’s Ukraine. When England beat Ukraine in London’s Wembley, the whole English populace was almost sure that the trophy is ‘Coming Home for the first time ever as England has never won the tournament. The last major international trophy they won was in the 60s.

Italy had fought their way through to the finals as Roberto Mancini, the coach/manager had built an exceptional team this time around. With their Fifa 18 upset, the Azzurri’s were more determined than ever. The stage was set in the historic Wembley Stadium.

With Luke Shaw’s very early goal, right in the 2nd minute of the match, the British Royals, David Beckham and all the 80,000 strong English fans were then certain that football’s finally coming home. But Bonucci’s equalizer sent the game to extra-time, finally to be decided by the penalties.

Guess what, the Italians won the final as the player of the tournament Gianluggi Donnarumma saved the last two of England’s penalties. There was an extreme hush among the crowd in Wembley as the Azzurri’s made their way towards the podium. It was done, the trophy was going to Rome, instead of finally coming home.

Stan Swamy: A Case Study

0

Stan Swamy finally breathed his last on the 5th of July, 2021. Stanislaus Lourduswamy popularly known as Stan Swamy was an Indian Roman Catholic priest. He was a tribal rights activist living in Jharkhand’s Ranchi. Swamy was the oldest person to be accused of terrorism in India. On 8 October 2020, Swamy was arrested and charged by the National Investigation Agency under the Unlawful Activities (Prevention) Act, for his alleged role in the 2018 Bhima Koregaon violence and links to the Communist Party of India (Maoist). Swamy was suffering from Parkinson’s disease and had requested bail on medical grounds, which was rejected multiple times. While incarcerated, his health deteriorated and he died of COVID-19 complications on 5 July 2021.

What is the Bhima Koregaon Case?

203 years ago in 1818, a British regiment constituted mostly by the Mahars, a lower caste among the Hindus, had defeated the Maratha army who is considered to be the representative of the upper caste among the Hindus. Every year beginning from 1927 by Ambedkar, the Bahujan commemorate the day of this victory in Bhima Koregaon, a place in Maharashtra. 2018 was the 200th anniversary of the event and Bahujan from across the country had gathered to commemorate the day. This led to violence as others tried to disrupt it. People were killed, injured, and detained during the protest staged by the Bahujan after the violence. People were killed, injured, and detained. Pune Police had registered an FIR and Father Stan Swamy was listed as an accused. Stan Swamy then moved to the Bombay High Court to plea for the removal of his name from the name but the Bombay HC rejected the plea. The HC issued an order for the protection of Swamy from arrest momentarily but when the NIA got involved, he was arrested nonetheless.

Residences of nine more people, including Stan Swamy’s house in Ranchi, were raided by Pune Police in August, 2018.  By November it was made to appear that the incident was a part of the larger Maoist conspiracy. National Investigative Agency (NIA) took over the case in 2020 and Swamy was arrested by them and taken to Taloja Central Jail in October the same year when the man was 84 and suffering from Parkinson’s.

Arresting an old and gravely ailing man is in itself a controversial measure. But there cannot be any two opinions that Swamy was done in finally by our insensitive system. His final wish was to return to Ranchi and die among his people. That remained a wish.

Sulli Deals: A Toxic Mixture of Misogyny and Islamophobia

0
find your sulli deal

Our society has reached such a level of degeneracy and hostility towards women that almost every day there’s news of crime against women that would make any sane human hang their head to shame. In a disturbing display of selective misogyny targeting Muslim women, photos of hundreds of them were uploaded by an unidentified group on an app using GitHub — by the name of ‘Sulli Deals’ — on Sunday, 4 July. Sulla or Sulli is a derogatory term used to refer to Muslim men and women respectively.

The issue came to light when women saw their profiles on the websites being shared on social media, by some users as their Sulli “deal of the day”.

The platform had a repository of open-source codes. The app ‘Sulli Deals’ was created and hosted by GitHub. As per Indian media reports, it had been active for the past 20 days or so. After the outrage on social media, Github pulled the website down.

Once a user would open the app, it would post a message asking him/her to ‘Find your sulli deal of the day. The photo of a Muslim woman, as your ‘sulli deal of the day would then be shared with the user.

These photos were most likely shared from the social media accounts of different Muslim women most of whom were activists, journalists, and other influential young women among the minority political scene. It is definitely a case of extreme misogyny but the elements of islamophobia by far surpass every other element. It is a toxic mixture of Islamophobia, hatred against Muslims and objectification of Muslim women which resulted in this case.

This is not an isolated incident, a similar case happened last year when on Eid several Muslim women’s pictures from India and Pakistan were auctioned live on Twitter. It was like a live show of islamophobia and the dehumanization and objectification of Muslim women live on the public. It is also an attack on Muslim political activists to show them their place that they deserve being thirsted over, sexually harassed, bullied, and objectified just for raising their voice against the right-wing Hindu majoritarian oppression rampant across the country. Although the application was removed from Github to know that such people with such a mentality exists is beyond disturbing to even comprehend.

The Covishield Predicament Finally Seems to End

0
COVID Vaccine
Photo by Steven Cornfield on Unsplash

Covishield was listed for emergency use by the WHO in February.

India has so far overwhelmingly administered Covishield jabs – they account for more than 290 million of the 350 or so million vaccinations given so far. Covishield is the Indian-made version of AstraZeneca’s Vaxzevria jab, which has been authorised in the EU. It’s manufactured in India by Serum, the world’s largest vaccine maker.

Friction had emerged between India and Europe in recent days over the exclusion of Covishield as an accepted vaccine by the European Union vaccine passport programme. Indian Minister of Foreign Affairs Subrahmanyan Jaishankar tweeted earlier in the week that he had taken up the issue of authorisation of the Indian version of Covishield during his meeting with EU representatives on the sidelines of a G20 foreign ministers meeting in Italy. Even Adar Poonawala, Serum Institute’s supremo had tweeted assuring all the Indians who had taken Covishield that he’ll take up the matter to the highest of authorities and the predicament would soon be resolved.

India’s version of AstraZeneca’s coronavirus vaccine was not authorised in the EU due to the possibility of “differences” with the original, Europe’s drug regulator said Wednesday. Even the African Union had complained regarding this as the cheaper Covishield manufactured in India has widely been injected in Africa. The WHO had recognized and approved Indian-made Covishield but the EU not doing so was creating somewhat of a diplomatic rift between Europe, Africa and India.

However, all of this started to resolve from the first day of July as nine countries under the EU including Germany and Spain when they would approve the travelers inoculated with India-made version of the AstraZeneca (Covishield) vaccine to visit their countries and accepted it under the EU’s Green Pass Scheme.

The exclusion of Covishield, which is produced by India’s Serum Institute using methods analogous to the EU-approved Oxford-AstraZeneca vaccine Vaxzevria but does not have EU market authorisation, stoked anger and the threat of retaliatory measures by India against travelers from Europe. An Indian foreign ministry source said to Al Jazeera on Thursday that Austria, Germany, Slovenia, Greece, Iceland, Ireland, Spain and Switzerland had informed the Indian government that Covishield would be accepted for the purposes of travel.

Estonia has said it would recognise all the vaccines authorised by the Indian government, the source said, which would include Covaxin that has been developed by local firm Bharat Biotech.

Is something new stirring up in Kashmir?

0
apnews.com

The first-ever meeting between political leaders of Jammu and Kashmir and the Centre after the abrogation of the erstwhile state’s special status under Article 370 ended on the expected lines, with Prime Minister Narendra Modi urging the parties to get on board with delimitation to enable Assembly elections. What clearly emerged after June 24 meeting in New Delhi is that there has been no change in the stance of the BJP government over its momentous decision of August 5, 2019.

On the day when Article 370 was revoked and the state was bifurcated into two Union Territories – J&K and Ladakh – Union Home Minister Amit Shah while announcing the colossal move in Parliament said the statehood will be restored at an “appropriate time.” And since then, the Prime Minister and other BJP leaders have been repeating it, but without any time frame. At the June 24 meeting also, Modi again said that the Centre was committed to restoring statehood to J&K, but not before the delimitation of constituencies and Assembly polls.

Fourteen mainstream Jammu and Kashmir leaders from eight political parties, including four Chief Ministers, attended the three-hour meeting aimed at getting the political process back on course in the region after it lost its special status under Article 370 of the Constitution in 2019 and was downgraded from a state to two Union Territories – Jammu and Kashmir and Ladakh.

“The main focus of the meeting was to strengthen the democratic process. PM said that we are fully committed to the democratic process in J&K. He stressed that the holding assembly elections just like the successful District Development Council elections is a priority,” government sources said to NDTV.

Although it being portrayed that most Kashmiri leaders were satisfied with the process discussed in the meeting but former Chief Ministers of J&K Omar Abdullah and Mehbooba Mufti stated otherwise to the reporters.

Omar Abdullah told reporters that “almost all leaders” were unhappy with delimitation only in Jammu and Kashmir. “In other states, delimitation will be taken up in 2026, why has been Jammu and Kashmir been singled out? We told the PM delimitation is not needed,” said the former Chief Minister, adding that “trust has broken between the Centre and Kashmir”.  “We will struggle for 370, be it months or years. We didn’t get this (special status) from Pakistan, but from India, Nehru. There can be no compromise on this,” Ms Mufti said after the meeting.

Germany protests Hungary’s law on homosexuality through sports

0
Germany protests Hungary's law on homosexuality through sports
Getty Images

Germany and Hungary were to go head to head in the last day of group stage matches to decide the winner of the group of death on the 24th of June (IST).

However, prior to the match, Germany made an unusual request that they light up the Allianz Arena in Munich to pride colors during the match hoisting Hungary. UEFA rejected the request for it was too political to be enacted during an international football game.

Germany had decided to light up the famous Allianz Arena because they wanted to protest Hungary’s move of passing an anti-lgbt law in their country.

UEFA clarified on Twitter although the action of lighting up the stadium was political, the rainbow symbol is not political as it portrays “inclusive” commitments.

Hungarian Foreign Minister Peter Szijjarto slammed Munich’s proposal on Monday. “In Hungary, we have passed a law to protect Hungarian children, and now in Western Europe they are griping about it,” Szijjarto said in Luxembourg. “They want to express this by including politics in a sporting event, which has nothing to do with the passing of national laws.”

UEFA says it believes “that discrimination can only be fought in close collaboration with others.”

Although Munich could not light up Allianz Arena the way they wanted, several stadiums and monuments across the country were lighted up in the pride colors to show ‘solidarity with the LGBT groups in Hungary. Plans for other stadiums, where the tournament is not being played, to be illuminated with rainbow colours quickly gathered support on Tuesday. “If Munich is not allowed on Wednesday, then the other stadiums in the country will have to show their colors. Come now, league colleagues!” Eintracht Frankfurt board spokesman Axel Hellmann said on Twitter.

German fans waved gay flags inside the stadium during the match and one spectator went as far as coming onto the pitch raising the gay flag during Hungary’s national anthem.

Prime Minister of Hungary Viktor Orban was supposed to come spectate the match between his country and German in the Allianz Arena but a few hours before the match begun, the visit was cancelled given the kind of situation arose in the whole of Germany.

It can be said that the Hungarian Parliament had its own reasons and motives to pass what it passed and the Germans reacted because they are too pro-human rights. However, was it justified to mentally intimidate the Hungarian players before an important match by letting a fan run-in with a flag during their national anthem? The answer could be subjective, for the Germans it was necessary and for the Hungarians, it was forcing their beliefs down their throat.

New Zealand wins against India to clinch the first ever World Test Championship

0
Credit: Twitter @ICC

The game of cricket has three formats: test matches which are the oldest and they last for 5 days, ODI as the name suggests is a one-day match of 50 overs each and then T20 where each team plays 20 overs. Both ODI and T20 had a championship where different international teams played to win or lose but Test matches hadn’t any until 2019. In 2019 the World Test Championship was introduced by ICC in an attempt to make the oldest format of cricket more appealing and thrilling to the spectators.

The final of this World Test Championship was played between the Indian and New Zealand cricket teams and the venue was Southampton in England. The rain had almost ruined the final but some amount of cricket took place anyway. New Zealand won the match by wickets. They were given a target of 139 in the final innings to play by India. Indian batting side could not perform well and as a result due to lesser run being scored, India lost the match.

Cricket fans all over the world expressed their happiness over Kane Williamson and his team winning the first-ever World Test Championship.

Student activists Natasha Narwal, Devangana Kalita, Asif Iqbal Tanha released from Tihar Jail

0
hallway with window
Photo by Jimmy Chan on Pexels.com

After spending nearly a year in jail, Pinjra Tod activists Natasha Narwal, Devangana Kalita and Jamia student Asif Iqbal Tanha were released on bail from the high-security Tihar Jail late on Thursday.

They were released after getting bail in the northeast Delhi pogrom case. Soon after walking out of the jail, they vowed to continue their struggle. The release of the trio, who were arrested in May last year under the stringent Unlawful Activities (Prevention) Act (UAPA), came after a lower court order.

After release from jail on bail, Kalita lashed out at the government and said it’s trying to suppress dissent, the voice of people, reported news agency PTI.

“We have received tremendous support inside jail; will continue our struggle,” PTI quoted Narwal as saying.

Tanha also echoed Narwal’s words as he said the fight against Citizenship Amendment Act (CAA) will continue. “Kept hope that I will be released one day; fight against CAA, NRC, NPR will continue,” PTI quoted him as saying.

The student activists were accused of being the “masterminds” of the February Delhi pogrom in 2020. The violence caused 53 deaths and injured 200.

Narwal, whose father recently died of Covid when she was in jail, is a JNU student as is Kalita. Both of them are associated with Pinjra Tod, a collective of women students of and alumni from colleges and universities across Delhi fighting for women’s rights.

Tanha is a member of the Students’ Islamic Organisation of India and student graduating in a Persian programme from Jamia Milia Islamia. While demanding the release of other prisoners, he also appealed to the government to address the COVID conditions in prison.

The Delhi Police had claimed that the violence in North-East Delhi was a part of a larger conspiracy to defame PM Modi’s Government which was happening in the facade of protest and civil disobedience.

However, the high court, while granting them bail on June 15, had asserted that “in an anxiety to suppress dissent, the state has blurred the line between right to protest and terrorist activity” and if such a mindset gains traction, it would be a “sad day for democracy”. Narwal thanked the Delhi High Court for the verdict. “Any such protest that we have done is not terrorism,” she added. “It was a democratic protest, led by women. They can only threaten us. They can threaten to incarcerate us, but that only strengthens our resolve to carry on our fight.”

Second peak over, India gets ready for a possible third COVID wave

0
Photo by Martin Sanchez on Unsplash

The first wave of COVID 19 hit India during the last week of March 2020, having peaked in the middle, it lasted until the March of 2021 when the second and the deadlier wave of COVID jolted India infecting more than 4 lac people everyday. However, June brought hope as the number of cases dropped below 1 lakh after a period of more than 2 months.

As we are past the worst of second wave, talks have already begun about a very possible onset of the third wave which may hit India. NITI Aayog member VK Saraswat said that preparations should be completed to deal with the third wave of COVID-19, which may affect younger population. Saraswat said that India’s epidemiologists have given very clear indications that the third wave of Covid-19 is inevitable, and it is likely to start from September-October. Therefore the country should vaccinate more and more people. He said, “I think we have done reasonably well. We have managed the second wave of the Covid-19 pandemic very well, as a result, Covid-19 numbers have come down significantly.

AIIMS chief Dr. Guleria on Saturday warned that India could witness a third wave of coronavirus infections in the next 6-8 weeks if people do not adhere to Covid-appropriate behaviour. 

He said that until a sizeable number of people are vaccinated, everyone must strictly follow Covid-appropriate behaviour such as wearing of masks and social distancing.

“If Covid-appropriate behaviour is not followed, the third wave can happen in six to eight weeks. We need to work aggressively to prevent another large wave till vaccination kicks in,” Guleria told news agency PTI. So far, India has fully vaccinated only about 5% of its estimated 950 million eligible population, leaving many millions vulnerable to infections and deaths. The AIIMS chief also stressed on the need for stricter surveillance and area-specific lockdowns in case of a significant surge in cases.

According to a snap survey by Reuters, a majority of the medical experts believe that India will witness the next Covid wave by October.

The experts said that although the next wave is expected to be controlled in a better way than the latest outbreak, the pandemic will continue to remain a public health threat for at least another year.

The outbreak of second wave was the result of the extreme carelessness of the government and the governed both of whom didn’t learn much from the first wave and did not take enough measures to tackle the disease in future. The continuation of Kumbh which proved to be the superspreader literally resulted in the second wave and was facilitated both by the government and the people who participated despite knowing that a pandemic exists in the country. If people do not carefully keep staying cautious without letting off their guard, the third wave would be inevitable and this pandemic would keep proving itself to be deadly time and again.

Recent Posts

Most Popular

The bold move of a Cabinet Reshuffle. What does this hold in store?

Thirty-six new ministers joined the government and four high-profile ministers were made to quit in PM Modi's mega cabinet reboot of...
The Euro 2020 Trophy's Going Rome and not Home

The Euro 2020 Trophy’s Going Rome and not Home

The EURO 2020 tournament which took place in 2021 due to the pandemic had begun last month in the second week...

Stan Swamy: A Case Study

Stan Swamy finally breathed his last on the 5th of July, 2021. Stanislaus Lourduswamy popularly known as Stan Swamy was an Indian Roman...
find your sulli deal

Sulli Deals: A Toxic Mixture of Misogyny and Islamophobia

Our society has reached such a level of degeneracy and hostility towards women that almost every day there's news of crime...
COVID Vaccine

The Covishield Predicament Finally Seems to End

Covishield was listed for emergency use by the WHO in February. India has so far overwhelmingly administered Covishield...

OoWER

800FansLike
41FollowersFollow
Skip to toolbar