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Lawrence Bishnoi Offered Political Platform by UBVS: ‘We See Bhagat Singh in You’

Naveen Tilani
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Lawrence Bishnoi Offered Political Platform by UBVS: ‘We See Bhagat Singh in You’

Jailed gangster Lawrence Bishnoi has been offered a chance to contest the 2024 Maharashtra Assembly elections by the Uttar Bharatiya Vikas Sena (UBVS), a political party that advocates for the rights of North Indians in Maharashtra. UBVS, led by Sunil Shukla, wrote a letter to Bishnoi, comparing him to revolutionary Bhagat Singh and inviting him to be the face of their campaign. The party also plans to announce 50 candidates in its election bid, focusing on those of North Indian descent who have been denied reservation in Maharashtra due to their non-local ancestry.

Shukla emphasized that North Indians from Uttar Pradesh, Punjab, Haryana, and Bihar, many of whom belong to the OBC, SC, and ST categories, face systematic exclusion from reservations because of their origins, despite being born and raised in Maharashtra. He further stressed the need for uniting these communities to fight for their rights in the state, with Bishnoi as a potential leader.

This development has caused considerable controversy, especially given Bishnoi’s criminal background. Known for orchestrating a widespread criminal network, Bishnoi has been implicated in various high-profile cases, including the murder of Punjabi singer Sidhu Moosewala and threats to Bollywood star Salman Khan. His gang has been linked to extortion and contract killings, including the recent assassination of NCP leader Baba Siddique.

The proposal from UBVS has sparked debate over the increasing intersection of crime and politics, especially as Bishnoi remains behind bars in Gujarat’s Sabarmati Central Jail. Critics argue that the political offer only highlights the dangerous nexus between politics and crime, while supporters of UBVS believe Bishnoi’s influence could rally the disenfranchised North Indian communities.

As Maharashtra gears up for the 2024 elections, the offer to Bishnoi raises questions about the ethical and legal implications of allowing criminal figures to engage in the political process. Bishnoi’s response to the offer remains to be seen, but the controversy is already fueling heated discussions in political circles.

Countdown Begins: MVA Seat-Sharing Finalization Set for Tuesday

Naveen Tilani
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Countdown Begins: MVA Seat-Sharing Finalization Set for Tuesday

The Maha Vikas Aghadi (MVA) alliance in Maharashtra is on the verge of finalizing its seat-sharing agreement for the upcoming state assembly elections. In a crucial meeting held on Tuesday in Mumbai, Congress, Shiv Sena (UBT), and NCP (Sharad Pawar faction) moved closer to consensus, resolving key disputes over the majority of seats.

According to reports, the alliance has agreed on the distribution of around 260 seats out of the 288 constituencies. The Congress is expected to contest 110-115 seats, bolstered by its strong performance in recent elections. The Shiv Sena (UBT) is eyeing 83-86 seats, while the NCP will likely contest around 72-75 seats. However, disputes remain over 25-30 seats, particularly in regions like Vidarbha, where the Congress is resisting Shiv Sena’s claims on certain strongholds.

Shiv Sena (UBT) leader Sanjay Raut expressed optimism, saying that while there are some unresolved issues, most disagreements have been addressed, and the alliance is determined to contest as a united front. Congress leader Nana Patole also reiterated that the party is working towards a swift resolution and remains committed to the alliance’s success.

Despite rumors of internal rifts, including speculation that Shiv Sena might contest all 288 seats independently, both Raut and Patole dismissed these claims, attributing them to BJP’s efforts to destabilize the opposition.

With the seat-sharing deal expected to be finalized by Tuesday evening, the MVA is positioning itself as a strong contender against the ruling BJP-Shiv Sena (Shinde faction) alliance in the assembly elections, scheduled for November 20, 2024.

PM Modi Visits Russia for 16th BRICS Summit: Focus on Global Cooperation.

Naveen Tilani
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PM Modi Visits Russia for 16th BRICS Summit: Focus on Global Cooperation.

Prime Minister Narendra Modi has arrived in Kazan, Russia, for the 16th BRICS Summit, running from October 22 to 24, 2024. This visit marks his second trip to Russia this year, following a July meeting with Russian President Vladimir Putin. The summit aims to foster dialogue on issues such as multilateral cooperation, economic partnerships, climate action, and sustainable development.

During the summit, Modi is expected to hold bilateral talks with President Putin and other BRICS leaders. While a potential meeting with Chinese President Xi Jinping remains unconfirmed, India sees the summit as a crucial platform for promoting resilience in supply chains, cultural exchanges, and reformed global governance systems​.

This gathering is significant for Russia, as it offers Putin an opportunity to reinforce diplomatic connections amid continued Western sanctions and geopolitical tensions following the Ukraine conflict. Additionally, the expansion of BRICS and the integration of new partner countries will be key discussion points during Russia’s chairmanship​.

UN Secretary-General António Guterres will also participate, marking his first visit to Russia since 2022, underscoring the importance of the event for global diplomacy.

Cyclone Dana Expected to Impact Odisha and West Bengal; Preparations Underway

Naveen Tilani
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Cyclone Dana Expected to Impact Odisha and West Bengal; Preparations Underway

Odisha and West Bengal are bracing for the potential landfall of Cyclone Dana, expected to develop from a low-pressure system forming over the Bay of Bengal. The India Meteorological Department (IMD) predicts that the cyclone will likely intensify by October 23, with landfall projected between Puri, Odisha, and Sagar Island, West Bengal, on the night of October 24.

Key Preparations and Warnings:
Schools Closed: Odisha has announced the closure of schools in 14 districts from October 23 to 25 as a precautionary measure.
Evacuation Plans: Authorities are on standby to evacuate residents from vulnerable areas, with teams from the National Disaster Response Force (NDRF), Odisha Disaster Rapid Action Force (ODRAF), and fire services prepared for action.

Monitoring Coastal Impact: Fishermen have been advised to return to shore, and special attention is being given to energy grids and transmission towers in affected districts​.

Expected Weather Conditions:
Heavy to extremely heavy rainfall (above 20 cm) is forecast for districts like Puri, Khurda, Ganjam, and Jagatsinghpur on October 24. West Bengal’s coastal areas, including Purba and Paschim Medinipur, and South 24 Parganas, are also expected to receive heavy showers starting October 23.

Wind speeds are likely to reach 100-110 km/h, with gusts of 120 km/h from the night of October 24 into the morning of October 25.

Inauguration Postponed:
Due to the impending storm, the inauguration of the Rs.450 crore passenger terminal at Petrapole on the Indo-Bangladesh border, scheduled for October 23, has been postponed.

Officials are closely monitoring the cyclone’s path to assess its potential impact on Bangladesh and India. Both states are coordinating efforts to ensure public safety, with evacuation measures and essential supplies ready at cyclone shelters.

Sakshi Malik Alleges Babita Phogat Manipulated Wrestlers’ Protest for Political Ambition

Naveen Tilani
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Sakshi Malik Alleges Babita Phogat Manipulated Wrestlers’ Protest for Political Ambition

In a recent interview with India Today, Olympic wrestler Sakshi Malik claimed that BJP leader Babita Phogat instigated the protest against Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh with the intent of replacing him as president. Malik disclosed that Phogat convened a private meeting with several wrestlers, suggesting that their protests could help bring positive change if she were elected to lead the federation.

Malik, alongside prominent wrestlers Bajrang Punia and Vinesh Phogat, had been protesting since early 2023, accusing Brij Bhushan of sexual harassment, including misconduct against a minor. Despite external political speculation, Malik clarified that their movement was not supported by the Congress party. Instead, Babita Phogat and another BJP leader, Tirath Rana, aided them in securing permissions to demonstrate in Haryana.

While Malik acknowledged that the wrestlers were genuinely fighting against harassment, internal conflicts emerged over time. She noted that factions within the protest group particularly those influenced by Bajrang Punia and Vinesh Phogat started focusing on personal gain. This fractured the movement, leading to its eventual collapse.

The protest reached its peak in May 2023, when the wrestlers marched to the new Parliament building during its inauguration but were stopped by police. Although the demonstrations ended soon after, the controversy surrounding WFI leadership persists, with the allegations against Brij Bhushan still under legal scrutiny​.

Malik’s statements also come amid shifting political dynamics, as Vinesh Phogat and Bajrang Punia have since aligned with the Congress party, contesting in the recent Haryana elections​.

Record FPI Sell-Off in October: Rs.77,701 Crores Pulled Out of Indian Equities

Naveen Tilani
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Record FPI Sell-Off in October: Rs.77,701 Crores Pulled Out of Indian Equities

Foreign Portfolio Investors (FPIs) have made October 2024 the month with the highest-ever sell-off in Indian equities, withdrawing Rs.77,701 crores. This surpassed previous outflows seen during the COVID-19 pandemic in March 2020. The sell-off was driven by global economic factors, including a stronger U.S. dollar and rising interest rates, which negatively affected emerging markets like India.

Ajay Bagga, a market expert, explained that “India’s FPI outflows were partly due to a strong U.S. dollar and rising bond yields. This created a ‘no-landing’ scenario where a resilient U.S. economy diverted funds away from Indian markets.” Furthermore, China’s economic stimulus also lured foreign investors toward Chinese markets, adding pressure on Indian equities.

Despite the heavy FPI outflows, domestic investors have stepped in to support the market. According to data from the National Stock Exchange (NSE), domestic institutional investors (DIIs) injected Rs.74,176.20 crores into the market during October, helping to stabilize indices like the Nifty 50 and Sensex, which only fell by around 5% from their 52-week highs.

Bagga further noted, “India is dealing with high valuations, an unfavorable macroeconomic environment, and underwhelming earnings across sectors, leading to continued foreign outflows.” However, the strong domestic participation suggests a growing reliance on local investors to cushion the stock market from external shocks.

As global uncertainty continues to shape investment strategies, market analysts believe that FPI activity may remain volatile, influenced by factors such as U.S. Federal Reserve policies and shifts in global growth projections.

Hyundai Motor India’s Shares Fall 3% After Tepid Stock Market Debut

Naveen Tilani
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Hyundai Motor India’s Shares Fall 3% After Tepid Stock Market Debut

Hyundai Motor India’s stock debuted below expectations on October 22, 2024, listing at Rs.1,931 on the BSE and Rs.1,934 on the NSE, compared to its issue price of Rs.1,960. Despite raising Rs.27,870 crore through the IPO, market sentiment remained cautious, leading to a 3% drop in the company’s share price during initial trading. The offer, structured as an offer for sale, meant that no fresh capital was raised for business expansion, contributing to investor concerns.

Analysts believe several factors contributed to this lackluster debut. Weak global market conditions, coupled with economic uncertainty, have made investors more risk-averse, impacting Hyundai’s listing. The company, being India’s second-largest passenger vehicle manufacturer, enjoys strong fundamentals, but market volatility affected its stock performance.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., pointed out that the company’s long-term growth prospects remain intact despite the soft opening. “Hyundai’s focus on the SUV segment and its competitive market position continue to support its strong fundamentals. Investors with a long-term perspective should consider holding the stock, as product innovations and market expansion will likely drive future growth,” she said.

Despite Hyundai’s strong brand and product lineup, the broader market volatility and the absence of new capital raised through the IPO dampened the immediate outlook for the stock. Experts expect Hyundai’s performance to stabilize in the coming months, especially with its planned strategic initiatives in electric vehicles (EVs) and new product launches.

While the stock market debut was not as strong as anticipated, Hyundai’s market dominance and strategic focus in high-growth segments provide optimism for long-term investors willing to navigate short-term volatility.

Paytm Posts Strong Revenue Growth Amidst Loan Expansion, Narrowing Losses

Naveen Tilani
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Paytm Posts Strong Revenue Growth Amidst Loan Expansion, Narrowing Losses

Paytm, India’s leading fintech, reported a significant 32% rise in revenue for Q2 FY 2024-25, reaching ₹2,518 crore, as the company focuses on loan disbursements and merchant subscriptions. The value of loans disbursed surged 122% year-on-year, reaching ₹16,211 crore, driven by robust demand from merchants and consumers. Merchant subscriptions also grew to 92 lakh, reflecting Paytm’s expanding ecosystem.

Despite the positive revenue growth, Paytm’s net loss narrowed to ₹290 crore, compared to ₹571 crore in the same period last year, showcasing the company’s efforts to improve profitability. The contribution margin rose to 57%, supported by the company’s loan distribution business and payment services, which saw a 28% increase in revenue.

Founder and CEO Vijay Shekhar Sharma emphasized the company’s strategic pivot toward financial services. “Our strong growth in loan distribution, combined with steady subscription revenue, underscores our commitment to building a sustainable financial ecosystem,” Sharma said during an earnings call.

However, Paytm’s stock remains under pressure, partly due to market volatility and global economic conditions. Analyst Motilal Oswal observed that despite the growth, the company may face subdued industry outlooks in the near term but remains well-positioned for long-term gains as it adds more lending partners.

CSK Awaits MS Dhoni’s Decision Before IPL 2025 Retention Deadline

Vikas Balani
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CSK Awaits MS Dhoni’s Decision Before IPL 2025 Retention Deadline

The Chennai Super Kings (CSK) are eagerly waiting for confirmation from MS Dhoni on his availability for the IPL 2025 season. The franchise’s CEO, Kasi Viswanathan, confirmed that the team has not yet received an official response from Dhoni, leaving fans and management anxious about his future. Known for his leadership and long association with CSK, Dhoni has played a pivotal role in the team’s success, leading them to five IPL titles.

The IPL retention deadline for the 2025 season is fast approaching, and CSK needs to finalize its roster. If Dhoni decides to continue, the franchise will have to allocate INR 4 crore, the set amount for retaining an uncapped Indian player. This follows the IPL’s revised regulations, allowing capped players who haven’t played international cricket in the past five years to be considered uncapped, reducing the financial burden on teams.

Dhoni’s potential retention under the new uncapped player rule provides CSK with more flexibility in managing their INR 120 crore auction purse. Speculation suggests that Dhoni might return for one final season, with the hope of clinching another title before possibly transitioning into a non-playing role or a management position.

Viswanathan expressed optimism, noting Dhoni’s commitment to the team and the support he continues to receive from fans. However, the official decision is expected only closer to the retention deadline. Fans remain hopeful, as Dhoni’s presence not only boosts team morale but also significantly impacts the franchise’s fan base and viewership. (C6N)

427 kg Meth Seized in Gujarat’s Ankleshwar Factory as Crackdown on Drug Cartels Intensifies

Naveen Tilani
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0
427 kg Meth Seized in Gujarat’s Ankleshwar Factory as Crackdown on Drug Cartels Intensifies

Gujarat: In a significant drug bust, Gujarat police seized 427 kg of suspected methamphetamine from a factory in the Ankleshwar industrial area of Bharuch district on Sunday. The operation, conducted by the Special Operations Group (SOG) of Surat and Bharuch police, resulted in the arrest of one person in connection with the illegal drug trade. The seized meth, also known as MD, has an estimated value of ₹14.10 lakh, pending confirmation by forensic testing.

Inspector Anand Chaudhary of the SOG confirmed the raid took place at a firm called ‘Avasar Enterprise,’ located in the Ankleshwar GIDC area. The drugs are now being analyzed by the Forensic Science Laboratory (FSL) to confirm their authenticity. Authorities have registered a case, and further investigations are underway to uncover the network behind this major bust.

This seizure follows closely on the heels of another massive operation in Gujarat. A joint effort by Gujarat and Delhi police recently led to the seizure of over 500 kg of cocaine valued at ₹5,000 crore from Avkar Drugs Limited, also in Ankleshwar. That raid, based on intelligence inputs regarding an international drug cartel, exposed the extent of narcotic trafficking operations in India. Additionally, 40 kg of hydroponic marijuana was discovered the first of its kind seizure in the national capital.

Speaking about these developments, Gujarat Home Minister Harsh Sanghvi lauded the efforts of law enforcement: “This achievement showcases the tireless efforts of our law enforcement agencies in combating drug trafficking and abuse. Their collaborative efforts are crucial in safeguarding the health and security of our society.”

In another related crackdown, Delhi police recently seized 200 kg of drugs worth ₹2,000 crore from a closed shop in Ramesh Nagar, underscoring the magnitude of drug cartels operating across the country. These back-to-back seizures, totaling more than ₹7,000 crore, highlight the ongoing war against narcotics in India.

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