6:33 PMSensex tanks 531 points; energy, IT stocks play spoilsport
The benchmark Sensex dived nearly 531 points to close at 48,348 on Monday, extending its losses to the third straight session due to massive selling in energy and IT stocks. After swinging nearly 1,000 points during the session, the BSE benchmark settled with a loss of 530.95 points or 1.09 per cent at 48,347.59.
The 30-share index opened over 375 points higher and hit the day's high of 49,263.15 before succumbing to selling pressure that took the index to the session's lowest point at 48,274.92.
The broader NSE Nifty plunged 133 points or 0.93 per cent to end the session at 14,238.90. Over the last three sessions, the BSE Sensex has lost 1,444.53 points or 2.90 per cent and the NSE Nifty has shed 405.80 points or 2.77 per cent.
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5:34 PMGST shortfall: FinMin releases weekly instalment of Rs 6,000 crore to states
The finance ministry on Monday released the 13th instalment of Rs 6,000 crore to the states to meet GST compensation shortfall, taking the total amount of fund released to Rs 78,000 crore.
Till now, 70 per cent of the total estimated GST compensation shortfall has been released to the states and union territories (UTs) with legislative assembly.
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of the implementation of the GST.
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4:26 PMPM Modi interacts with children awarded Pradhan Mantri Rashtriya Bal Puraskar
Prime Minister Narendra Modi on Monday lauded the contribution of children in raising awareness about handwashing during the COVID-19 pandemic, and said that a programme tastes success if they become part of it. In an interaction with the 'Pradhan Mantri Rashtriya Bal Puraskar' awardees via video conferencing, Modi praised the winners and said they should never stop working and stay humble all the time.
He also asked them to work for the country, urging them to think of what they can do as the nation approaches the 75th year of its Independence.
The prime minister also asked them to read biographies and said it will keep inspiring them. Speaking to a boy who made farming equipment, Modi said modern agriculture is the need of the country. Children also played a big role in spreading awareness about sanitation as part of the 'Swachh Bharat' programme, he noted.
3:01 PMTCS surpasses Reliance to become the most valued domestic firm
Tata Consultancy Services on Monday surpassed Reliance Industries Ltd to become the country's most valued firm by market capitalisation.
During the afternoon trade, the market valuation of Tata Consultancy Services (TCS) was at Rs 12,45,341.44 crore while that of Reliance Industries Ltd (RIL) was at Rs 12,42,593.78 crore on the BSE.
Shares of RIL declined 4.84 per cent to Rs 1,950.30 on the BSE after its earnings failed to cheer investors. In contrast, TCS gained 1.26 per cent to touch its one-year high of Rs 3,345.25. Tata Consultancy Services had in March last year also reclaimed the status of the country's most valued firm by market valuation. Market capitalisation of companies changes daily with movement in their stock prices.
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2:22 PMSasikala moved out of ICU, says Bengaluru hospital
Expelled AIADMK leader V K Sasikala, who is serving a jail term in Bengaluru in a corruption case, has been moved out of the ICU after her coronavirus symptoms reduced, the Victoria Hospital authorities said in a statement. The former aide of late Tamil Nadu chief minister J Jayalalithaa, who is set to be released from prison on January 27, contracted coronavirus on January 20 and was later admitted to the Bowring Hospital.
In view of her critical condition, she was shifted to the ICU ward of Victoria Hospital. Now that the symptoms have reduced substantially and her condition has become normal, she has been taken out of the ICU.
However, the hospital authorities have been monitoring her. Meanwhile, her sister-in-law J Ilavarasi, who too is serving a jail term in the corruption case and was found COVID-19 positive, was keeping well, the authorities said. Sasikala was sentenced to four years imprisonment in February 2017 in the Rs 66 crore disproportionate assets case.
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1:53 PMPMLA case: HC refuses bail to Yes Bank founder Rana Kapoor
The Bombay High Court on Monday refused to grant bail to Yes Bank founder Rana Kapoor, who is accused in a case of money laundering. Kapoor was arrested in March last year by the Enforcement Directorate (ED). The central agency is conducting an investigation against Kapoor, his wife, and their three daughters over a sum of Rs 600 crore received by a firm allegedly controlled by them from an entity linked to scam-hit Dewan Housing Finance Limited (DHFL).
In July last year, a special court in Mumbai rejected Kapoor's bail plea following which he approached the HC.
Kapoor's counsel Harish Salve on Monday told a single bench presided over by Justice P D Naik that Rs 600 crore was a loan received by their company and not a kickback. However, the ED's counsel, Hiten Venegaonkar, opposed the bail plea and told the court that the said company was co-owned by Kapoor's daughters.
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1:19 PMAyodhya mosque may be named after 1857 mutiny warrior Maulvi Ahmadullah Shah
The proposed mosque in Ayodhya that is set to be built following the Supreme Court verdict in the Babri Masjid case may be named after Maulvi Ahmadullah Shah, the warrior of the 1857 mutiny against the British.
The Indo Islamic Cultural Foundation, the trust constituted by the Sunni Waqf Board to oversee the construction of the mosque, is seriously considering to name it after Shah, who was known as the 'Lighthouse of Rebellion' in the Awadh region, Trust Secretary Athar Hussain said
After the Trust was formed, there have been discussions on whether the mosque should be named after Mughal emperor Babar or some other name be given. The Babri mosque was named after Babar.
To make the Ayodhya mosque project a symbol of communal brotherhood and patriotism, the Trust has decided to dedicate the project to Shah, who represented these values and was also a true follower of Islam, according to Trust sources.
Hussain said, "The Trust is thinking very seriously over the proposal of dedicating our Ayodhya Mosque project to the great freedom fighter Maulvi Ahmadullah Shah. We have got suggestions regarding the same from different platforms. It is a good suggestion. We will officially announce it after deliberations".
Shah was martyred on 5 June, 1858.British officers like George Bruce Malleson and Thomas Seaton have made a mention of his courage, valour and organisational capabilities.
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1:07 PMSC seeks Centre's reply on PIL seeking setting up of media tribunal
The Supreme Court Monday sought responses from the Centre, Press Council of India (PCI) and the News Broadcasters Association (NBA) on a PIL seeking setting up of a media tribunal to adjudicate on complaints against media, channels and networks.
A bench comprising Chief Justice S A Bobde and Justices A S Bopanna and V Ramasubramanian took note of the plea which also sought setting up of an independent committee headed by either by a former Chief Justice of India or an apex court judge to review the entire legal framework related to media business regulations and suggest guidelines.
Besides the Ministry of Information and Broadcasting, PCI and NBA, the bench also issued notices to News Broadcasters Federation (NBF) and News Broadcasting Standards Authority (NBSA) on the PIL filed jointly by film maker, Nilesh Navalakha and civil engineer Nitin Memane in the proceedings conducted through video conferencing.
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 "Santosh Babu")
