Sensex soars 287 pts, brings up best weekly show in 3 months

Mumbai, May 27 (PTI) Market kept its strong run going for the fourth straight session as the Sensex ended about 287 points higher after investors created fresh long positions in the new June derivative series amid earnings traction and continued foreign inflows.

The NSE Nifty in the process reclaimed the 8,100 level.

A higher opening in Europe and a firm trend in Asia acted as a catalyst.

For the week, the Sensex climbed 1,351.70 points, or 5.34 per cent, while NSE Nifty surged 406.95 points, or 5.25 per cent. For both the indices, the jump is their biggest weekly gain since March 4.

The June series derivative contracts was off to a better start, which added to the confidence level. Refinery, healthcare and realty stocks hogged the limelight.

The Sensex opened strong and closed at 26,653.60, a gain of 286.92 points, or 1.09 per cent. The barometer ended last above this level at 26,656.83 on October 30 last year.

The index had gained 1,136.32 points in the previous three sessions.

4TH Batch of 25 declassified files relating to Netaji Subhas Chandra Bose released online on web portal

The Fourth batch of 25 declassified files relating to Netaji Subhas Chandra Bose released online on web portal www.netajipapers.gov.in by Shri N.K. Sinha, Secretary, Ministry of Culture here today. The present batch of 25 files consists of 05 files from the Prime Minister’s Office (PMO), 04 files from Ministry of Home Affairs (MHA), and 16 files from Ministry of External Affairs (MEA)pertaining to the period 1968 to 2008.

It may be recalled that first lot of 100 files relating to Netaji, after their preliminary conservation treatment and digitization, were put in the public domain by the Prime Minister of India, Shri Narendra Modi on 23 January 2016, on the occasion of the 119^th birth anniversary of Netaji.  The second lot of 50 files and third lot of 25 files were released by Dr. Mahesh Sharma, Minister of State for Culture and Tourism (I/C) and Civil Aviation on 29 March, 2016 and 29 April, 2016 respectively.

The present release of 25 files will further meet the continued public demand to access these files and this will also facilitate scholars to carry out further research on the doyen of the freedom movement.  These many files having passed the scrutiny of the specially constituted Committee having experts from the field of Archives which looks into the aspects such as:

1.             To ascertain the physical conditions of the files and carry out necessary repair and conservation wherever needed, through Conservation Unit.

2.             To verify the quality of digitization for enabling the digitized records to upload in the web portal ‘www.netajipapers.gov.in’.

3.             To check if there are any duplication in the files are being released on the internet for use by the researchers and general public.

It may be reiterated that in 1997 the National Archives of India had received 990 declassified files pertaining to the Indian National Army (Azad Hind Fauj) from the Ministry of Defence. Further, in 2012, 271 files/ items pertaining the Khosla Commission, and 759 files/ items of Justice Mukherjee Commission of Inquiry, in total 1030 files/ items were received from the Ministry of Home Affairs. All these files/ items are already open to the public under the Public Records Rules, 

President Shri Pranab Mukherjee in China

The President, Shri Pranab Mukherjee and the President of the People’s Republic of China, Mr. Xi Jinping, at the Welcome Ceremony, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee meeting the Chairman of National People's Congress, Mr. Zhang Dejiang, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee and the Premier of the State Council of the People's Republic of China, Mr. Li Keqiang, at the delegation level talks, at Great Hall of the People, in Beijing, on May 26, 2016.

The President, Shri Pranab Mukherjee being introduced to Chinese dignitaries, at the Welcome Ceremony, at Great Hall of the People, in Beijing, on May 26, 2016. The President of the People’s Republic of China, Mr. Xi Jinping is also seen.

President Mukherjee Outlines Eight Steps for a People Centric Partnership Between India and China
The President of India, Shri Pranab Mukherjee delivered a lecture at Peking University today (May 26, 2016) on the topic “India-China Relations: 8 steps to a people-centric partnership”.

Addressing the gathering, the President said at a time of global economic uncertainty, India and China, despite the pressure of having 40 per cent of the world’s human population, have managed to maintain unity and growth. The joint contribution of the two countries to world economy as well as regional and global stability, cannot be underestimated. India and China are poised to join the ranks of leading global powers. It is incumbent on the two countries, as emerging economic powers to remain equally focused on nurturing regional and global prosperity.

The President said both countries are at the threshold of an opportunity to join hands and create a resurgence, a positive energy, an “Asian Century”. This will not be an easy task. Obstacles need to be resolved with fortitude. The two countries must persevere to realise this dream. They must join hands in a durable friendship.

The President said political understanding between India and China is vital for a Closer Developmental Partnership. One of the ways it could be developed is through enhanced political communication. To build a people-centric partnership, there must be mutual trust predicated on mutual respect and a better appreciation of respective political and social systems. This can be achieved by closer contacts at all levels. There is need to enhance and strengthen co-operation to the mutual benefit of both peoples. The President quoted Gandhiji and said "I look forward to the day when a free India and a free China will cooperate together in friendship and brotherhood for their own good and for the good of Asia and the world." He called on the peoples of India and China to tirelessly strive for that objective - despite current challenges.

Underling the steps for people-centric India-China relations, the President said both India and China are ‘young’ societies. Our youth share common aspirations and perceptions. Their annual exchanges have been fruitful but both sides need to synergize their potential. He stated that in a digital age, joint film productions could be useful instruments for creating positive perceptions among our peoples. Greater exchanges between institutions of higher learning, more cultural festivals and joint research and scholarship programmes can help dispel the notion that we need to look to the West and not to each other to make progress in education, science & technology. Travel can also be a very important binding factor between the two countries. Indians would like to have more opportunities to travel to their holy sites in China and, in turn, welcome more Chinese visits to Buddhist pilgrimage centres in India. By pursuing sustainable solutions and sharing experiences, civil societies on both sides can collaborate – duly respecting the parameters in which they are required to operate in our respective countries. We can use multilateral fora including the G-20, BRICS, EAS, AIIB, SCO and the United Nations to enhance public awareness of the desire of both our countries for a shared future shaped by us together. Trade and commerce can also be the most powerful agents in reinforcing our complementarities. He called upon India-China entrepreneurs to jointly innovate to create a new model for business.

Narendra Modi the second most-liked world leader on Facebook

Kolkata, May 26 (PTI) As Narendra Modi completes two years as Prime Minister, he remains the second most-liked world leader on Facebook, the social media giant said today.

The list of most-liked world leaders on Facebook released by the social network shows that Modi is second only to US President Barack Obama and is followed by Turkish President Recep Tayyip Erdogan.

Modi's Facebook post on May 15 with his mother at his official residence at Delhi's Race Course Road remains on top with 1.6 million likes, 1.2 lakh shares and 34,000 comments.

"My mother returns to Gujarat. Spent quality time with her after a long time & that too on her 1st visit to RCR," he had written in the post which was accompanied by three photographs of the mother-son duo.

The Prime Minister's colleagues are also not far behind in making their presence felt in the virtual world.

Out of a total of 50 cabinet ministers along with ministers with independent charge, 47 of them have verified Facebook presence.

During the last one year, the top performing ministers on Facebook include Home Minister Rajnath Singh, HRD minister Smriti Zubin Irani, Finance Minister Arun Jaitley and Food processing minister Harsimrat Kaur Badal.

The Facebook report says Modi makes an average of 2.8 posts per day.

His other top posts include the one where he changed his profile picture in support of the efforts towards a Digital India.

The prime minister paying homage to former President Dr A P J Abdul Kalam is his third most popular post, according to Facebook.

Among the top three government initiatives popular on the social media site include 'Make In India', 'Digital India' and 'Skill India'
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SC allows marine Salvatore Girone to go to Italy, imposes fresh conditions

New Delhi, May 26 (PTI) The Supreme Court today relaxed the bail conditions of Salvatore Girone, one of the two Italian marines accused of killing two fishermen off Kerala coast in 2012, and allowed him to go to his country till an International Arbitral Tribunal decides the jurisdictional issue between India and Italy.

The other marine Massimiliano Latorre is already in Italy on health grounds and his stay there was recently extended by the apex court till September 30 this year.

A vacation bench of Justices P C Pant and D Y Chandrachud sought a fresh undertaking from Italian Ambassador here stating that if the International Arbitral Tribunal (IAT) decides jurisdictional issue in India's favour then he will be responsible in bringing back the marine within one month.

The apex court imposed four conditions on the marine which include that he has to report to police station in Italy on first Wednesday of every month and the Italian Embassy has to inform the Indian Embassy in Rome about the same.

It also said the marine will not tamper with any evidence nor influence any witness in the case.

The third condition imposed was that Girone will give an undertaking that he will remain under the jurisdiction of Supreme Court.

Lastly, if found violating any of the conditions imposed, his bail will be cancelled, the apex court said.

During the hearing, Additional Solicitor General (ASG) P S Narasimha said that Centre has no objection to the application moved by Girone if he complies with the conditions imposed by the apex court.

"We support the application on humanitarian grounds subject to his compliance with the conditions imposed by the court," the ASG said.

Girone, who presently is in the custody of the apex court and residing in Italian embassy here, had filed the application through lawyer Jagjit Singh Chhabra, also seeking a direction that Ministry of Home Affairs and the Foreigners Regional Registration Office be asked to provide him with the "necessary residential permit and exit visa".

The marines, who were on board ship 'Enrica Lexie', are accused of killing two Indian fishermen off the Kerala coast on February 15, 2012.

National Capital Goods Policy

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for National Capital Goods Policy. This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from Rs.2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million. 

The policy envisages increasing exports from the current 27 percent to 40 percent of production. It will increase the share of domestic production in India’s demand from 60 percent to 80 percent thus making India a net exporter of capital goods. The policy also aims to facilitate improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs. 

The Policy will help in realising the vision of ‘Building India as the World class hub for Capital Goods’. It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of ‘Make in India’. 

The objectives of the policy will be met by the Department of Heavy Industry in a time bound manner through obtaining approval for schemes as per the roadmap of policy interventions. 

Background: 

The idea of a ‘National Capital Goods Policy’ was first presented by the Deptt. of Heavy Industry to the Prime Minister in the ‘Make in India’ workshop held in December, 2014. The policy has been finalized after extensive stakeholder consultations with industry, academia, different ministries etc. The key recommendations and elements of the policy have been formulated to support and boost development of this crucial sector. The aim of the policy is create game changing strategies for the capital goods sector. Some of the key issues addressed include availability of finance, raw material, innovation and technology, productivity, quality and environment friendly manufacturing practices, promoting exports and creating domestic demand. 

CPI(M) leader Pinarayi Vijayan sworn in as Kerala CM

Thiruvananthapuram, May 25 (PTI) CPI(M) strongman Pinarayi Vijayan was today sworn in as Chief Minister of Kerala heading a 19-member ministry of the party-led Left Democratic Front(LDF) that had 13 new faces including two women.

72-year-old Vijayan, who pipped his bitter party rival V S Achuthanandan to the top post in Kerala politics, was administered the oath of office and secrecy by Governor Justice (Retd) P Sathasivam at the Central Stadium here.

Hailing from a poor toddy tapper's family, Vijayan, a first time Chief Minister, took the oath in Malayalam. A CPI-M Politburo member, he is the 12th chief minister of Kerala.

Out of the 19-member cabinet, 12 including the Chief Minister are from CPI(M), 4 from CPI, one each from NCP, Janata Dal(S) and Congress(S). The outgoing Congress-led UDF had 21 ministers.

There are 13 new faces, including two women, in the Cabinet. Five ministers had held positions in previous LDF ministries.

The CPI(M)-LDF had unseated the Congress-led UDF by securing 91 seats in the 140-member House in the May 16 assembly polls.

A huge pandal to accommodate at least 30,000 persons was put up at the stadium, adjacent to the state Secretariat.

CCTVs erected at various places enabled the large crowd, who had gathered to view the ceremony streamed live.

The slight drizzle failed to dampen the spirits of the party workers who had arrived in buses and other vehicles from various parts of the state, especially the northern districts of Kasaragod, Kannur and Kozhikode, to witness the swearing-in ceremony, which began at 4 pm.

In 2006 also, the swearing in of then Chief Minister V S Achutanandan and his cabinet colleague was held outside the Raj Bhavan.

Former Prime Minister H D Deve Gowda, former Chief Ministers Oommen Chandy, V S Achutanandan, CPI(M) General Secretary Seetharam Yechury, Prakash Karat, 97-year-old K R Gowri Amma, who was Revenue minister in the EMS Namboodiripad cabinet of 1957, former union minister and lone member of BJP in the assembly O Rajagopal, religious and cultural leaders and film actors attended the function. .

Sensex zooms 576 pts to log biggest gain in nearly 3 mths

Mumbai, May 25 (PTI) Market benchmark Sensex today soared nearly 576 points -- its biggest single-session gain in nearly three months -- to end at 25,881.17 and the NSE Nifty crossed the 7,900-mark on a flurry of buying by foreign funds and retail investors amid a firm overseas cues.

The rupee recovering against the dollar from 2-1/2 month low and a string of encouraging earning numbers also contributed to the upmove amid covering-up of pending short positions by speculators ahead of tomorrow's May monthly expiry in the derivatives segment, brokers said.

Buying activity gathered momentum as global equities rallied after investors also adjusted to the prospect of a US rate hike in the near future amid a surge in home sales.

The Sensex opened strong at 25,432.10 and continued to rise to hit the day's high of 25,897.87. Finally, it settled at one-month high of 25,881.17, a gain of 575.70 points or 2.28 per cent -- its biggest single-day gain since March 1.

The 50-share NSE Nifty recaptured the 7,900-mark to hit a high of 7,941.20 before winding up at 7,934.90, a hefty rise of 186.05 points or 2.40 per cent.

From the 30-share Sensex pack, 29 scrips ended higher.

Cipla ended in the red with a fall of 4.97 per cent at Rs 470.30 after pharma major March numbers came below market expectations.

ICICI Bank emerged as the top gainer from the index by climbing 4.48 per cent to Rs 234.45 while BHEL jumped 4.34 per cent to Rs 122.65 after the company said it has commissioned the first 800 mw supercritical thermal unit in Raichur, Karnataka.

Shares of Bajaj Auto climbed 3.96 per cent to Rs 2,478.85 after the company reported 29.18 per cent growth in standalone net profit to Rs 803.06 crore for the fourth quarter ended March 31.

Other major gainers included L&T 4.02 per cent, Maruti (3.47 pc), SBI (3.30 pc), HDFC Ltd (2.87 pc), HDFC Bank (2.80 pc), GAIL (2.76 pc), Asian Paint (2.74 pc), Axis Bank (2.67 pc), NTPC (2.46 pc), TCS (2.40 pc), ITC Ltd (2.24 pc) and Tata Steel (2.13 pc).

Sectorally, the BSE banking index gained the most by rising 3.17 per cent followed by capital goods (2.96 pc), IT (2.25 pc), teck (2.21 pc), power (2.04 pc), oil&gas (2.01 pc), FMCG (1.88 pc), infrastructure (1.82 pc), auto (1.82 pc), PSU (1.77 pc) and metal (1.10 pc).

Broader markets too were in a bullish form with BSE mid-cap rising 0.97 per cent and the small-cap up 0.94 per cent.

Meanwhile, the government today approved the first-ever policy for the country's capital goods sector envisaging creation of over 21 million new jobs by 2025.

In Asian markets, Japan's Nikkei surged 1.57 per cent while Hong Kong's Hang Seng rose 2.77 per cent. However, Shanghai composite index slipped 0.23 per cent.

European markets were trading in the positive terrain with the London FTSE rising 0.68 per cent, while Paris up 1.15 per cent
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Dia Mirza tries her hand at horror with web series

Mumbai, May 25 (PTI) Known for playing soft romantic roles, Bollywood actress Dia Mirza is making a switch by featuring in an episode of the horror web series, "Shockers".

The "Rehna Hai Tere Dil Mein" actress will be seen playing the title role in an episode titled "The Good Wife".

"As an actor it is exciting to be a part of different mediums of story telling. Short films as a format are exciting, because in a limited period of time a lot can be conveyed. Samaira's (the character) story, in 'The Good Wife' could be anyone's experience," Dia said in a statement.

The episode deals with a supernatural presence in the character's house. Dia, 34, says the experience for shooting it was "extraordinary".

"It is real and extraordinary. I enjoyed shooting for this in one night with Faruk Kabir who as a director is pushing the envelope of spookiness." 

"The Good Wife", written and directed by Faruk Kabir, is available on Hotstar.

Be partners in India's growth story, tells President to Chinese investors

The President, Shri Pranab Mukherjee addressing the Plenary Session of Business Forum Meeting, in Guangzhou, China on May 25, 2016.

The President of India, Shri Pranab Mukherjee addressed the India-China Business Forum event at Guangzhou today (May 25, 2016). 

Speaking on the occasion, the President said India believes that there is great potential for economic and commercial cooperation among our two nations, which face similar opportunities and challenges. The stability of our relationship in recent years provides an enabling basis for utilizing these opportunities and coming together. To realize the full potential of our economic partnership, it is important to bridge the information gap between our business communities. India is committed to providing a conducive environment for more investments from China. We stand ready to facilitate many more collaborations between the industry and businesses of our two countries across different sectors. India invites investors from China to be partners in India's growth story. 

The President said India is a young nation. Our primary goal is to build a modern economy that puts a premium on sustainable development. We are steadily moving towards this objective and a profound socio-economic transformation is taking place in our country. China's economic achievements are a source of inspiration for us. We believe that stepping up our two way trade and investment flows will be of mutual benefit to both our nations. We welcome Chinese investments and entrepreneurs to participate in ‘Make in India’ and other flagship initiatives of Government of India. India will facilitate efforts of Chinese investors to make their investments in India profitable. We must take advantage of the opportunities that abound in the growth of both our economies.