Citizens' Issues
39 killed in Gujarat bus accident, 24 injured
Ahmedabad : Thirty-nine people were killed and 24 injured when a Gujarat State Road Transport Corporation (GSRTC) bus fell off a river bridge in South Gujarat's Navsari district on Friday evening, police officials said.
 
Expressing her condolences over those killed in the accident, Gujarat Chief Minister Anandiben Patel announced compensation of Rs.4 lakh each to their families.
 
According to an official communique, the chief minister has said the state government would bear the complete expenditure for the medical treatment of the injured people. 
 
Navsari Superintendent of Police M.S. Barada said the bus carrying around 60 passengers was on its way to Unai town from Navsari city when the accident occurred in the evening. The bus was packed to capacity when it started around 6 p.m.
 
Barada earlier told media persons that rescue operations were on in full swing. "We have recovered 20 bodies so far. At least 15 people, including the driver and the conductor of the bus, were trapped inside the overturned bus when last reports trickled in."
 
The officer said looking at the damaged bus, the chances of survival of those still inside the wreckage were dim. The accident occurred on a bridge over Purna river near Supa village on Bardoli road under Navsari rural police station area, he said.
 
Many of the injured, who were rushed to government hospitals in Navsari, Gandevi and other towns were reported to be in critical condition. Police said the number of casualties were being collated and may rise.
 
The exact cause for the accident was unclear so far but eye-witness told police that the driver took a left swerve to avoid a vehicle coming from the opposite direction, but lost control over the wheel, crashing into the side wall of the bridge and fell into the river some 40 feet below.
 
The police, fire brigade and ambulances rushed to the spot and with the help of the local people launched a massive rescue operation which, however, was slowed by darkness. 
 
Arrangements for lights were made on emergency basis to continue the rescue operations at night as some portions of the bus remained trapped in mud and shallow water, police said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Telecom operators not meeting call drop norms, says TRAI
New Delhi : The random test drive for call drops by the Indian telecom regulator shows that most of the telecom service providers (TSP) are not meeting the prescribed benchmark.
 
The Telecom Regulatory Authority of India (TRAI) has laid down the quality of services benchmarks for call drop rate to be less than 2 percent. Most telecom operators missed this benchmark.
 
The regulator conducted drive tests during December-January period. Tests were conducted on both 2G and 3G networks of service providers, including state-run MTNL and BSNL.
 
During December 2015-January 2016 drive tests were repeated in Delhi, Mumbai, Kolkata, Pune, Surat and Bhubaneswar and in addition drive tests were also carried out in Indore.
 
“In all the cities drive tests were carried out earlier, the same route was followed during the latest drive (around 300 km). For Delhi and Mumbai, the route length was increased to 600 Km after taking inputs from the TSPs about the additional route. In other cities also, the route has been increased wherever possible,” the report said.
 
In Pune, the regulator said, none of the operators has shown improvements. The highest rate of call drops was shown by Tata 3G at 42.93 percent, followed by Idea 3G 20.96 percent, BSNL 3G 11.64 percent and Airtel 3G 7.91 percent.
 
In Bhubaneswar, all the operators have failed to meet the benchmark. 
 
In Delhi, the regulator said some of the operators had shown improvements. The operators who complied with the benchmark are - Airtel 2G, 3G, Idea 2G, 3G and Vodafone 3G.
 
In Kolkata, CDMA network of MTS, Tata Teleservices and Reliance Communications were compliant to call drop benchmark.
 
In Mumbai, the regulator said results for most of the operators were found to be satisfactory.
 
In Surat, TRAI said none of the operators were meeting the prescribed benchmark, though there was a marginal improvement in voice quality for some operators.
 
Regarding Indore, the regulator said some of the operators were meeting the prescribed benchmark.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Nifty, Sensex headed higher – Weekly closing report
Nifty may be headed for 7,700
 
We had mentioned in last week’s closing report that Nifty, Sensex were in an uptrend and that Nifty would weaken on a close below 7,400. In spite of a rally on Thursday and Friday, the major indices closed with a small weekly loss over last week’s close. The trends of the major indices of the Indian equity markets during the week’s trading are given in the table below:
 
In anticipation of the Reserve Bank of India’s (RBI) monetary policy review, the major indices ended flat on Monday and closed with marginal losses. 
India's second largest carmaker Hyundai Motor India Ltd. on Monday said its total sales last month, including exports, went down marginally by 1.2%. In a statement here, the company said it sold 44,230 units (domestic 38,016 units, exports 6,214 units) last month -- down from 44,783 units (domestic 34,780 units, exports 10,003 units) sold during January 2015. "Hyundai started the year with a positive note registering the domestic volume of 38,016 units with a growth of 9.3% over last year," Rakesh Srivastava, senior vice president -- sales and marketing, was quoted as saying in the statement.
 
On Monday, sales Eicher Motors announced that sales zoomed 65% last month year-on-year. In a statement the company said it sold 47,710 units last month (domestic 47,140 units, exports 570 units) as against 28,927 units (domestic 28,157 units, exports 770 units) sold during January 2015. Eicher Motors' Royal Enfield division rolls out heavy two-wheelers. The company unveiled in New Delhi on Tuesday a new motorcycle, Himalayan, powered by an all new LS410 engine. Eicher Motors shares closed up 9.56% over the week.
 
On Tuesday, the RBI, in its last bi-monthly credit policy review for FY2015-16 kept repo, reverse repo, cash reserve ratio (CRR) and bank rate unchanged. With repo rate remaining at 6.75%, the reverse repo rate under the liquidity adjustment facility (LAF) will remain unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 7.75%. In a statement, RBI Governor Dr Raghuram Rajan said, "The Reserve Bank continues to be accommodative even as it leaves the policy rate unchanged in this review, while awaiting further data on the development of inflation. Structural reforms in the forthcoming Union Budget that boost growth while controlling spending will create more space for monetary policy to support growth, while also ensuring that inflation remains on the projected path of 5% by the end of 2016-17."
 
On Tuesday, the industrial output index for India's eight core industries registered a rise in December 2015, pushed up by higher coal, refinery products, fertilizers, cement and electricity output. The index representing major infrastructure sectors had recorded a fall in November 2015. The index showed a rise of 0.9% in December 2015 on a month-on-month basis, compared to the 1.3% decline in November, official data showed on Monday. The core industries grew 3.2% in October last year. However the select factory output index for December is less than the growth of 3.2% achieved during the corresponding month in 2014, a commerce ministry release said. This index comprises 38% of the total weightage of items included in the Index of Industrial Production (IIP). Its cumulative growth from April to December 2015-16 stood at 1.9%, as compared to 5.7% during the corresponding period of 2014-15. Out of the eight core industries, fertilizers and coal reported healthy output numbers. However, production of oil, natural gas, and steel dwindled in the period under review.
 
Major indices in the Indian stock markets suffered a sharp correction again on Wednesday with losses in the range of 1.26%-1.55% over Tuesday’s close. Aluminium producer National Aluminium Company Ltd (Nalco) on Wednesday said it has developed a new corporate plan under a new business model to withstand market onslaughts and keep the company afloat with profitability. 
 
Global software major Wipro Ltd. will hire 25,000 more techies in Karnataka, especially Bengaluru, its chairman Azim Premji said on Wednesday. "We will add 25,000 more IT jobs in Karnataka where we already employ over 55,000 people and are expanding each of our businesses," Premji said at the state's global investors meet (GIM) in Karnataka on Wednesday.
 
On Thursday, the major indices of the Indian stock markets rallied after three days of losses and closed with small gains over Wednesday’s close. The National Association of Software and Services Companies (Nasscom) on Thursday revised the growth forecast for the software services sector to between 10%-12% for the financial year 2015-16, a statement said. The exports revenue of the industry grew by 12.3% and domestic revenue grew by 10% in 2015-16. The earlier growth projection by the IT software industry body for the present financial year was in the tune of 12%-14%. “Amidst a growth of 0.4% in the global IT-BPM in 2015, the industry is expected to reach an estimated $143 billion in FY2016, doubling its revenue over the last six years and crossing the $100 billion milestone in export revenues,” the statement said.
 
On Friday, key Indian equity indices opened marginally higher, even as Asia-Pacific shares lost ground but closed with gains of around 1% over Thursday’s close. Following the market correction in the early part of the week, the major indices are now in an uptrend.
 
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:
 

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