Sensex sinks 305 pts on tighter P-Note norms, hawkish Fed

Mumbai, May 19 (PTI) Falling for a second straight day, the benchmark BSE Sensex today plummeted by 305 points to hit over two-week low of 25,399.72 on fears that regulator Sebi will tighten P-Notes rules and speculations that the US Federal Reserve may raise interest rate in June.

Moreover, the broader NSE Nifty broke below the crucial 7,800-level. Among other factors, the rupee depreciated by 37 paise to 67.34 against the dollar during the day.

The 30-share Sensex after remaining in the positive zone briefly at the outset, slipped into the red and touched a low of 25,351.99 before winding up 304.89 points or 1.19 per cent, to close at 25,399.72, its weakest closing since May 6.

The 50-issue NSE cracked below the 7,800-mark by falling 86.75 points or 1.10 per cent to 7,783.40. Intra-day, it shuttled between 7,766.80 and 7,876.20.

In election result, BJP was set to create history in Assam by ousting Congress, which also lost Kerala to the Left front while incumbents AIADMK and Trinamool Congress retained power in Tamil Nadu and West Bengal.

Meanwhile, Sebi chief U K Sinha said the regulator is in discussions with the industry on tightening Know Your Client (KYC) mechanism for participatory notes (P-Notes) and will take a final decision on it soon.

Among Sensex shares, Adani Ports and Special Economic Zone emerged as the session's biggest loser by plunging 6.14 per cent to Rs 171.85 after Moody's said it has revised the outlook on company to 'negative' from 'stable'.

Other major losers were SBI, L&T, HDFC, GAIL, ITC, Cipla, Axis Bank, ONGC, RIL, Bharti Airtel, Coal India, Hindustan Unilever, M&M, Bajaj Auto, Tata Steel, Asian Paint and NTPC.

Bucking the trend, shares of Lupin rose 1.43 per cent to Rs 655.80 after the company posted 47.5 per cent growth in its consolidated net profit at Rs 807.1 crore.

Sectorwise, the BSE capital goods index suffered the most by losing 2.38 per cent followed by infra (2.01 pc), FMCG (1.74 pc), metal (1.61 pc), PSU (1.55 pc), oil&gas (1.22 pc), banking (1.20 pc), consumer durables (1.04 pc) and power (1.03 pc).

Selling pressure also dragged down the BSE mid-cap index by 1.12 per cent and small-cap by 1.01 per cent.

World stocks edged lower after minutes from the Federal Reserve's April policy meeting signalled the central bank could raise rates as soon as next month if data supported the case that the American economy is getting stronger.

Asian markets finished lower while European indexes were also down in their early trade.

BJP scripts history in Assam; Left wins Kerala; Jaya, Mamata retain power

New Delhi, May 19 (PTI) Scripting history, the BJP today stormed to power in Assam bagging a government in the north east for the first time dethroning Congress which also lost Kerala while Jayalalithaa and Mamata Banerjee retained power in Tamil Nadu and West Bengal with spectacular victories.

The Congress could take solace only in Puducherry where it managed to get a simple majority along with DMK to wrest power from AINRC headed by N Rangaswami, a former Congressman.

The results of the assembly elections saw the end of Congress rule in Assam where it had scored a hat-trick in the last elections under Tarun Gogoi.

With Union Minister Sarbananda Sonowal as its Chief Ministerial face, the BJP and its allies AGP and Bodo People's Front scored a landslide victory.

In the 126-member Assam Assembly, BJP won 24 seats and was leading in 38 (total 62), AGP won 6 and was leading in 8 (total 14) and BPF won 7 and was leading in 4 seats (total 11). The BJP last time had just 5 seats while the AGP had 10 and BPF had 12.

The Congress, which had secured 78 seats in the last elections, was today victorious in 10 seats and was leading in 14 (total 24). The AIUDF, led by Badrudin Ajmal, won 3 seats and was ahead in 10 (total 13).

In neighbouring West Bengal, Trinamool Congress headed by Mamata Banerjee was set to secure a two-thirds majority, fighting it alone against the Left-Congress combine.

Bettering its performance over the 2011 elections, Trinamool Congress, which had then contested in alliance with Congress and won 184 seats in the 294-member Assembly, has now won 98 seats and leading in 113 (total 211).

The Congress, which had last time got 42, improved a bit by securing three more seats this time. It was already declared winner in 14 seats and was leading in 31.

Its ally CPI(M) registered a big slide as it got only 26 seats against 40 it had last time. The party was declared winner in 9 seats and was leading in 17. CPI(M) allies CPI, Forward Bloc and RSP were ahead in 5 seats. Forward Bloc has already won one seat. .

India and Slovenia have signed Protocol amending the India-Slovenia Double Taxation Avoidance Convention.

India and Slovenia have signed a Protocol amending the existing Convention and Protocol between the two countries for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income on 17th May, 2016 in Ljubljana. The Protocol was signed by Mr. Sarvajit Chakravarti, Ambassador of India to Slovenia on behalf of India and Mr. Dusan Mramor, the Slovenian Minister of Finance on behalf of Slovenia.

The Protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

Chinese jets intercept U.S. military plane over South China Sea: Pentagon

WASHINGTON/BEIJING | BY IDREES ALI AND MEGHA RAJAGOPALAN

Two Chinese fighter jets carried out an "unsafe" intercept of a U.S. military reconnaissance aircraft over the South China Sea, the Pentagon said on Wednesday, drawing a rebuke from Beijing, which demanded that Washington end surveillance near China.

The incident, likely to increase tension in and around the contested waterway, took place in international airspace on Tuesday as the U.S. maritime patrol aircraft carried out "a routine U.S. patrol," a Pentagon statement said.

The encounter comes a week after China scrambled fighter jets as a U.S. Navy ship sailed close to a disputed reef in the South China Sea.

Another Chinese intercept took place in 2014 when a Chinese fighter pilot flew acrobatic maneuvers around a U.S. spy plane.

The intercept occurred days before President Barack Obama travels to parts of Asia from May 21-28, including a Group of Seven summit in Japan and his first trip to Vietnam.

China claims most of the South China Sea, through which $5 trillion in ship-borne trade passes every year. The Philippines, Vietnam, Malaysia, Taiwan and Brunei have overlapping claims.

Washington has accused Beijing of militarizing the South China Sea after creating artificial islands, while Beijing, in turn, has criticized increased U.S. naval patrols and exercises in Asia.

The Pentagon statement said the Department of Defense was addressing the issue through military and diplomatic channels.

Clinical Mary Kom sails into Rd 2 of World Championships

Astana (Kazakhstan), May 19 (PTI) Five-time champion M C Mary Kom began her campaign in style by outpunching Sweden's Juliana Soderstrom in her opening bout of the AIBA World Women's Boxing Championships here today.
Mary Kom (51kg) defeated Soderstrom 3-0 in a thoroughly lopsided contest to set up a clash on Saturday with Germany's Azize Nimani, who stunned Asian Games bronze-medallist Nandintsetseg Myagmardulam of Mongolia.

In a clinical performance, Mary Kom outsmarted an opponent, who had the height and reach advantage.

The 32-year-old Indian had worked hard on her reflexes ahead of the tournament and the efforts were there to be seen as she easily out-witted Soderstrom's attempts at attacking her.

The Asian Games gold-medallist, who is eyeing not just a medal but also an Olympic berth in this event, used her left hooks to telling effect against Soderstrom, who failed miserably in capitalising on her reach.

In fact, the Swede looked clueless whenever Mary Kom mounted an attack.

While Mary Kom was all precision in her punches, especially the right jabs, Soderstrom's swings were mostly off-target.

Every attempt that the Swede made at attacking was blocked brilliantly by the swift-moving Manipuri.

Even though Soderstrom did manage to make an impression in the fourth round, she had already lost the larger battle to her more experienced Indian rival.

In the end, it was hardly a surprise that the judges unanimously picked Mary Kom as the winner.

The prestigious event -- the final qualifying tournament for women boxers in the three Olympic categories of 51kg, 60kg, and 75kg -- has 12 Rio tickets on offer which means pugilists will have to at least make the semifinals of the three chosen divisions to book their berth.

Cong ousted in Assam, Kerala; Jaya, Mamata retain power

New Delhi, May 19 (PTI) BJP was today set to create history in Assam by ousting Congress which also lost Kerala to the Left front while incumbents AIADMK and Trinamool Congress retained power in Tamil Nadu and West Bengal for a second consecutive term.

The tiny Union Territory of Puducherry appears headed for a hung house with the ruling AINRC and Congress-DMK alliance locked in a close fight.

Assam voted for change with Congress, which had been in power for the last 15 years, being routed by the BJP-led alliance which is ahead in 80 out of 126 seats.

Marking a new surge, BJP, which had five seats in the last elections, was on its own leading in 56 seats now. Its allies AGP and Bodo People's Front were ahead in 15 and 12 constituencies. The Congress, which had bagged 78 seats in the last elections, was struggling by leading only in 27 seats.

AIUDF, led by Badruddin Ajmal, was leading in 09 seats while Independents were ahead in 6 constituencies.

The major surprise in the Assembly elections in four states and Puducherry was a strong show by AIADMK, which several exit polls had projected to lose.

Bucking tradition, the Jayalalithaa-led party was well on way to retaining power for a second term in a state which had not returned a ruling party to power since 1989. But it was also not a washout for the opposition DMK, which put up a reasonably good show by leading in 87 seats as against AIADMK's 130 in a house of 234. AIADMK has won one seat.

The Congress was ahead in 10 seats and IUML, a DMK ally, PMK and PT were leading in one seat each. The third front of parties headed by Vijaykant's DMDK has failed with even the actor himself trailing in his seat. 

‘Government has taken pollution seriously, remains committed to reduce pollution’: Environment Minister

Javadekar proposes establishment of a pollution research institute

Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Prakash Javadekar, has said that the Government has taken pollution seriously. He expressed the government’s commitment to reduce pollution. Addressing the two-day Conference of Chairmen & Member Secretaries of Pollution Control Boards & Pollution Control Committees, being held here since yesterday, Shri Javadekar proposed the establishment of a new Pollution Research Institute to look into all pollution-related aspects. However, he added that the establishment of the Institute is in a conceptual stage. He also gave a call for more widespread participation of State Pollution Control Boards and suggested that such Conferences should be held every six months, both at the central and regional level.

The Environment Minister said that the Ministry’s emphasis will be on establishing a compliance regime and to send a message that violations will prove to be expensive. Shri Javadekar also stated that the government wants to provide ‘Ease of Doing Responsible Business’, but pollution-related challenges will have to be addressed.

The Minister said that a discussion on the concept of development without destruction, sustainable development; discussion on air pollution, industrial pollution, sand mining, pollution of rivers and waste management is a good development, as it increases awareness in the society. He emphasised that there is a need to be more responsive on tackling pollution, as the Ministry’s mission is to maintain balance between five elements of nature and protect them. He highlighted that for the first time, the Ministry has moved National Green Tribunal (NGT) against five municipalities in Uttar Pradesh for not responding to the directions issued for sewage treatment.

Speaking on the occasion, Chairman, Central Pollution Control Board (CPCB), Shri A.K Mehta said that the forests and mangroves coverage have increased. He said that online monitoring of polluting industrial units and Comprehensive Environment Pollution Index (CEPI) has been revised and a fresh classification of industries has been done.

Some of the issues discussed at the Conference held on May 17-18, 2016 include – restoration of water quality of 302 identified polluted river stretches, re-categorisation of industries and actions for control of pollution, management of online data from 17 categories of industries and taking actions based on violations, action to be taken against municipalities for sewage and solid waste management and monitoring progress on implementation of action plans in critically polluted area based on revised formula.

The States have also agreed to implement the new Waste Management Rules notified by the Ministry in March 2016. 

India to deploy Eastern Fleet Ships to South China and North West Pacific

In a demonstration of its operational reach and commitment to India’s ‘Act East’ policy, the Indian Navy’s Eastern Fleet, under the command of Rear Admiral SV Bhokare, Flag Officer Commanding Eastern Fleet, sailed out today, 18 May 16 on a 2½ month long operational deployment to the South China and North West Pacific. During this overseas deployment, the ships of Eastern Fleet will make port calls at Cam Rahn Bay (Vietnam), Subic Bay (Philippines), Sasebo (Japan), Busan (South Korea), Vladivostok (Russia) and Port Klang (Malaysia). 

Indigenously built guided missile stealth frigates, IN Ships Satpura and Sahyadri, commanded by Captain AN Pramod and Captain KS Rajkumar respectively, INS Shakti, a sophisticated fleet support ship, commanded by Capt Gagan Kaushal and INS Kirch an indigenous guided missile corvette commanded by Commander Sharad Sinsunwal are participating in this deployment. 

The visits to each port will last four days and are aimed at strengthening bilateral ties and enhancing inter-operability between the navies. During the stay in harbour, various activities such as official calls and professional interaction between naval personnel of both the nations have been planned. PASSEX has also been planned at sea with the host navies. In addition to showing the Flag in this region of vital strategic importance to India, these ships will also participate in MALABAR-16, a maritime exercise with the US Navy and JMSDF. 

President of India to inaugurate Intelligent Operations Centre in Rashtrapati Bhavan and launch a mobile app for transformation of President’s Estate into a smart township tomorrow

The President of India, Shri Pranab Mukherjee will inaugurate an Intelligent Operations Centre (IOC) in Rashtrapati Bhavan and launch a Mobile App ‘Monitor’ for transformation of President’s Estate into a smart township at a function to be held at Rashtrapati Bhavan tomorrow (May 19, 2016). 

The IOC is a software solution designed by IBM which helps collect and make sense of the rich data streaming in from several sources within the Estate to provide intelligent insights. It offers integrated data visualization, near real-time collaboration and deep analytics that will help agencies prepare for problems, coordinate and manage response efforts and enhance efficiency of services. 

The “Monitor” mobile application is a Residents collaboration tool of the Intelligent Operation Center. This will help residents and domain (Energy, Water, Horticulture, Waste and Security) supervisors to collaborate in a smarter way for their observations. It will enable residents to report issues such as broken street lights, electricity failure, water wastage etc and check resolution status using their mobile devices. This mobile application will allow residents to report these issues using their mobile devices in the Estate on a real time basis. These reported observations can be used to provide enough details such as location coordinates, address etc to concerned departments. This will help the residents of the Estate become more socially responsible, aware and collaborative. 

Joint issue between Department of Posts and United Nations Postal Administration on UN Women HeForShe postage stamp

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, was apprised of the joint issue of UN Women HeForShe postage stamp. A Memorandum of Understanding (MoU) has been signed between Department of Posts and United Nations Postal Administration (UNPA) in February, 2016 for this purpose. 

In this Joint issue, the stamps were printed in the form of sheetlet of 20 se-tenants and Miniature Sheet of two stamps on the occasion of International Women’s Day. 

UN Women HeForShe campaign is a solidarity movement for gender equality that brings together one half of humanity in support of the other half of humanity for the benefit of all in social terms. This Joint issue is dedicated for the empowerment of women around the world. This would promote great cause of gender equality which the Indian government has been championing in the recent times. Thus, Department of Posts and UNPA have arrived an agreement to celebrate and to commemorate International Women’s day on 8th of March, 2016 by releasing a joint stamp.