Stocks
Helios and Matheson hits 52-week low as Axis Bank sells stake
Axis Bank sold 1.84 lakh shares leading to H&M hitting its 52-week low at Rs27.6 on NSE
 
Helios and Matheson Information Technology Ltd (H&M) shares hit its 52-week low Tuesday on reports about Axis Bank selling its shares in the troubled company. H&M shares closed Tuesday at its lower circuit at Rs27.60 on the NSE, while the benchmark Nifty ended the day 2.4% down at 8126.95.
 
According to a report from Business Standard, on Monday, Axis Bank sold 1.84 lakh shares of H&M at Rs29.11 per share. "Till 1135 hours (Tuesday), a combined 128,100 shares changed hands and there were pending sell orders for 161,514 shares on the NSE and BSE," the report says.
 
As reported by Moneylife, last month, the Economic Offences Wing (EOW) of Chennai police has arrested H&M’s former chairman V Ramachandran, the company’s chief executive and managing director GK Muralikrishna, and director Diwakar Sai Yerra.
 
Earlier, the Madras High Court has issued a notice to (H&M), an unfancied software company, after admitting a winding up petition filed by investors and depositors. H&M has been defaulting on repayments for fixed deposit and interest dues since last several months. Chennai-based senior lawyer R Venkatavardhan had filed the winding up petition, a copy of which is available with Moneylife.
 

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Picasso, Giacometti break sales records in New York auction
A later work by Pablo Picasso and a sculpture by Alberto Giacometti sold for $179.36 million and $141.28 million, respectively, becoming the most expensive artworks to be sold at an auction so far, Efe news agency reported.
 
London-based fine art auction house Christie's sold the two pieces in New York on Monday in an auction entitled "Looking forward to the past", breaking all records when Picasso's painting "Les femmes d'Alger (Version O)" was sold at the multi-million-dollar bidding price.
 
The 1955 painting, whose title means "Women of Algiers", is part of a series of 15 paintings, inspired by a work of the same name by French artist Eugene Delacroix.
 
"Les femmes d'Alger (Version O) is also, like that of Bacon, a dialogue between the two artists (Picasso and Delcroix)," Ana Maria Celis from the contemporary art department at Christie's told Efe.
 
The painting turned out to be the most photographed item on the historic night, while two other Picasso paintings were also sold for $67.3 million and $4.3 million, respectively, collecting a total amount of $251 million.
 
Meanwhile, Swiss sculptor Alberto Giacometti's "L'homme au doigt" (Pointing Man) set a record price of $141.28 million.
 
This amount exceeded the $104.3 million acquired in the London sale of Giacometti's "L'homme qui marche" (Walking Man) in 2010, thereby breaking his own record.
 
The nearly 70-inch bronze piece made in 1947 belongs to a series of six works, and is the only one hand-painted by the artist.
 
With only 34 works auctioned, the "Looking forward to the past" series added $705.85 million to Christie's coffers.
 
Other notable works sold included "Le Parlement, soleil couchant" (The Parliament, setting sun) by Claude Monet for $40.48 million, "No. 36 (Black Stripe)" by Mark Rothko which sold for $40.48 million, and the "Silver Liz" diptych by Andy Warhol for $28.16 million.
 
Christie's is yet to disclose the identity of the buyers.

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No toilet at home: Bihar woman divorces husband
A woman in a Bihar village has divorced her husband for not constructing a toilet at their house, officials said Tuesday.
 
Sunita Devi, a resident of Paharpur village in Vaishali district, divorced her husband in village panchayat after he failed to build a toilet despite repeated assurances.
 
Interestingly, Paharpur village was declared a 'nirmal-gram' by the government.
 
"I was fed up with my husband for not building a toilet and was forced to leave him," Sunita told IANS by telephone.
 
"I was upset over being forced to make way to an open field every day under the cover of darkness to defecate. Even owner of the land used to abuse and humiliate me repeatedly," Sunita said.
 
"For the last four years, I have been requesting my husband to construct the toilet. But he always ignored it and advised me to seek help of my parents for it," Sunita said.
 
Bihar has a population of over 105 million, of which 21.9 million lack toilet facilities. 

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