Citizens' Issues
Bombay HC paves way for women's entry to Shani Shingnapur Temple

The verdict by a division bench of Chief Justice D.H. Waghela and Justice M.S.Sonak of Bombay High Court came in a public interest litigation filed by activists Vidya Bal and senior lawyer Nilima Varta

 

In a ruling with far-reaching implications, the Bombay High Court on Friday declared that no law prevents women from entering places of worship and there should be no gender discrimination as far as entering one is concerned.
 
The verdict by a division bench of Chief Justice D.H. Waghela and Justice M.S.Sonak of Bombay High Court came in a public interest litigation filed by activists Vidya Bal and senior lawyer Nilima Varta challenging the age-old tradition prohibiting entry to women to the sanctum sanctorum of the world-famous Shani Shingnapur Temple in Maharashtra's Ahmednagar district.
 
Expressing "happiness" over the court verdict, women's activist organisation Bhumata Ranragini Brigade President Trupti Desai said she would lead a group of women to the temple on Saturday and pray at the sancturm sanctorum from where they have been barred for centuries.
 
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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COMMENTS

Anand Vaidya

1 year ago

Only for Hindu institutions or such comments apply to *all* religious institutions?

Does any NGO or court have the guts to interefere in the affairs of a certain Ahem... community?

Sensex, Nifty may give up some gains – Weekly closing report
Nifty may head lower, if it closes below 7,570
 
We had mentioned in last week’s closing report that Nifty, Sensex uptrend would continue and that Nifty would head higher as long as it remained above 7,600. The major indices of the Indian stock markets closed marginally lower on a weekly basis due to negative global cues. Bank Nifty was an exception, as it gained 1.81% over the week. The weekly trends of the major indices are given in the table below:
 
 
Profit booking, coupled with heightened chances of a US rate hike and a weak rupee subdued the Indian equity markets during late-afternoon trade session on Monday. Consequently, the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) traded deep in the red. The wider 50-scrip Nifty of the National Stock Exchange (NSE) receded into the negative territory. The BSE market breadth favoured the bears -- with 1,950 declines and 644 advances. The index had closed the last trade session flat on March 23. The Indian equity markets were closed from March 24-25, on account of Holi and Good Friday.
 
Profit booking, unwinding of long positions ahead of derivatives expiry and caution over a likely US rate hike dragged the key equity markets lower throughout the day's trade on Tuesday. The BSE market breadth favoured the bears -- with 1,690 declines and 948 advances.
 
One of the biggest losers on Tuesday was Lupin. Brokerage IIFL in a note said that Lupin's Mandideep facility in Madhya Pradesh has received Form 483 from US Food and Drug Administration (US FDA) after an inspection.  According to the US regulator, a Form 483 is issued to a company at the conclusion of an inspection when investigators have observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. Lupin's US business is significantly dependent on Mandideep unit, which contributes revenues of more than $200 million annually, IIFL said. The Bombay Stock Exchange later sought a clarification from Lupin over the matter. Lupin in a clarification said FDA observations on Mandideep facility are minor in nature and there were total of three observations. "We believe that these observations are minor in nature and have already addressed these observations. We don't expect any disruption to product supply from our Mandideep location," Lupin said. Lupin’s shares closed at Rs1,401.45, down 6.27% on the BSE.
 
Short-covering ahead of derivatives expiry, coupled with lessened chances of a US rate hike and a recent economic reform buoyed the Indian equity markets on Wednesday. The BSE market breadth favoured the bulls - with 1,724 advances and 694 declines. Initially, both the key indices of the Indian equity markets opened on a positive note, in-sync with their Asian peers, especially the Chinese indices and a firm close of the US exchanges on Tuesday. Market observers cited that short-covering ahead of the derivatives expiry and increased chances of a rate cut by the Reserve Bank of India (RBI) supported share prices. Investors expect the RBI to cut key lending rates on the back of the union budget's fiscal prudence measures, reduction in small savings interest rates and low inflation. The RBI will conduct its first bi-monthly monetary policy review for 2016-17 on April 5. In addition, Tuesday's economic reform measure to allow 100% foreign capital in e-commerce with some riders cheered investors. The move is expected to benefit not just foreign multi-brand retail entities like Amazon and e-Bay, but also single-brand overseas chains like Adidas, Ikea and Nike. 
 
Besides, dovish comments from the US Federal Reserve chairman Janet Yellen on Tuesday indicated lessened chances of a US rate hike. A hike in the US interest rates is expected to have led away Foreign Portfolio Investors (FPIs) from emerging markets such as India. Further, an appreciating rupee boosted investors' sentiments on Wednesday. Bank Nifty was trading sharply higher on Wednesday after Vijay Mallya of Kingfisher Airlines submitted a repayment plan of Rs4,000 crore to the Supreme Court.
 
Caution on the derivatives expiry day, coupled with weak crude oil prices, subdued the Indian equity markets on Thursday. Consequently, the key indices of the Indian equity markets traded flat. Initially, the key indices of the Indian equity markets opened on a flat-to-positive note, in-sync with their Asian peers.  Besides, upcoming US non-farm payrolls data and key domestic macro-economic data deterred investors from chasing prices. In addition, weak crude oil prices due to supply side issues dented sentiments. Rupee too opened flat at 66.36 to a US dollar from its previous close of 66.37-38 to a greenback. Major Asian indices closed with small losses over Wednesday’s close on Thursday. The major indices made small losses on Friday over Thursday’s close with the exception of the Bank Nifty.
 

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Tata Steel's decision to sell British operations credit positive: Moody's
Chennai : Credit rating agency Moody's Investors Service (Moody's) on Friday said Tata Steel Ltd's decision to restructure its British operations is credit positive but there is no immediate impact on its ratings.
 
In a statement, Moody's said Tata Steels planned restructuring/divestment of its British businesses is credit positive because it will reduce some of the negative pressure on its operating performance.
 
But pending finalisation of the restructuring plan and the uncertainty around the extent of improvement in the credit profiles of Tata Steel and Tata Steel UK Holdings Limited (TSUK Holdings), there is no immediate impact on the ratings on Tata Steel (Ba3 negative) and TSUK Holdings (B3 negative), it said.
 
On March 30, Tata Steel announced that it would explore all options in restructuring its wholly-owned subsidiary, Tata Steel Europe Limited (unrated), including the potential divestment of its step-down operating subsidiary, Tata Steel UK Limited (TSUK, unrated), in whole or parts.
 
"The potential sale of the UK operations is credit positive for Tata Steel and TSUK Holdings, because it would dispose of loss-making assets, against the backdrop of a challenging operating environment; namely depressed steel prices and a situation where global steel supply continues to exceed demand," said Moody's vice president and senior analyst Kaustubh Chaubal.
 
With the impact of the loss-making TSUK operations being addressed, Moody's expects TSUK Holdings' operating performance to improve, based on the expectation that steel demand in Europe will increase by 1-1.5 percent in 2016, and the imposition of anti-dumping duties by the European Commission in February 2016 on steel imports from China and Russia.
 
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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