Nation
Kejriwal says no to five-bedroom flats after criticism

Arvind Kejriwal has asked Delhi government officials to look for smaller accommodation for him as CM

Facing criticism, especially over social media, Delhi Chief Minister Arvind Kejriwal on Saturday said that he will not take up the two five-bedroom duplex flats allotted to him.

 

He told the media that he has asked the government to look for smaller accommodation for him.

 

"Since yesterday my friends, supporters have been calling me and sending messages saying I should not move into the five-bedroom flat. So, I have decided to forego them. I am asking the government to look for smaller accommodation for me," he said at a party strategy meeting.

 

He said till then, he would function from his Ghaziabad residence.

 

Kejriwal has been allotted two five-bedroom duplex flats on Bhagwan Das Road, one of which is to be used as his office.

 

Questioning the Aam Admi Party (AAP) credentials, his opponents including the Bharatiya Janata Party (BJP) had attacked him for taking up the flats.

 

BJP MLAs had yesterday come down hard on Kejriwal in the Delhi Assembly on the issue, saying his decision to accept the two flats was in "total contradiction" of AAP's claim that it will practice austerity.

 

Asked about the attack on him for choosing a big apartment, Kejriwal said, "It is actually important. We have come to cleanse dirty politics. Like Caesar's wife we have to be above suspicion and we have to subject ourselves to scrutiny".

 

The Delhi Chief Minister had said yesterday, "I have been given two separate houses, each having five bedrooms. You can take your camera and check the houses. I will be living in one of those with my family while using the other as my office where we can work till late hour".

 

"Now, I will live with my family in the five-bedroom house. Earlier, I was living in a four-bedroom apartment, that's the only difference," he had said.

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Downward bias continues with Sensex, Nifty: Friday closing report

Nifty should close above 6,250 for the first sign that the downtrend has been arrested

On Thursday we mentioned that the market headed for a bigger fall unless the Nifty manages to break through the level of 6,270. On Friday the index traded well below this level. We expect the indices to continue to move down. If Nifty closes above 6,250, it would the first sign that the downtrend has been arrested.

 

Although the market closed Friday flat with a slight negative bias, the indices opened with a gap down. The Sensex opened down 69 points at 20,820 while the Nifty opened 27 points down at 6,195. The Sensex moved in the range of 20,731 to 20,885 while the Nifty moved in the range of 6,171 to 6,222. The benchmarks closed almost near the day’s high. Sensex closed at 20,851 (down 37 points or 0.18%) while the Nifty closed 6,211 (down 10 points or 0.16%). The NSE recorded a lower volume of 64.25 crore shares.

 

Among the other indices on the NSE, the top five gainers were IT (2.06%); Smallcap (1%); Realty (0.98%); Media (0.61%) and Service (0.60%). The top five losers were Energy (1.54%); PSE (1.51%); Infra (1.40%); Commodities (1.25%) and Metal (1.19%).

 

Of the 50 stocks on the Nifty, 22 ended in the green. The top five gainers were Ranbaxy (4.02%); Lupin (3.20%); TCS (2.63%); Infosys (2.32%) and Maruti (2.18%). The bottom five losers were Tata Power (3.95%); M&M (3.73%); BPCL (2.71%); Tata Motors (2.51%) and Bhel (2.30%).

 

Of the 1,230 companies on the NSE, 624 closed in the green, 554 closed in the red while 52 closed flat.

 

Today the market awaited the prime minister Manmohan Singh scheduled meet to address several issues including list the achievements of the UPA government in the last 10 years. Apart from the mention of the Government continuing effort to implement policies to revive growth, eliminate poverty and ensure the safety and security of all people, the prime minister also admitted its poor success rate in generating employment in the manufacturing sector and concern over its failure in controlling persistent inflation. He also said he would "hand the baton over to a new prime minister," after general elections this year, ruling out a third term.

 

US indices closed in the negative on Thursday. Manufacturing activity in the US expanded in line with expectations in December, holding near the fastest rate since April 2011, industry data showed on Thursday. US ISM manufacturing PMI inched down to 57.0 in December from 57.3 in November. The new orders index increased in December by 0.6 points to 64.2, the highest since April 2010. The employment index registered 56.9, an increase of 0.4 points compared to November's reading of 56.5. December's employment reading is the highest since June 2011 when the employment index registered 59.0.

 

Except for NZSE 50  (up 0.68%) all the other trading Asian indices closed in the negative. Hang Seng was the top loser, down 2.24%. European indices were trading in the green while the US Futures were trading marginally in the green. Euro zone manufacturing grew at the fastest rate since mid- 2011 in December on brisk business in Germany and Italy, Markit purchasing managers' indexes (PMIs) showed. In Germany manufacturing grew at its fastest pace since mid-2011, with its PMI rising to 54.3 from 52.7.

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Infosys appoints BG Srinivas, UB Pravin Rao as presidents

BG Srinivas and UB Pravin Rao in their new role as president at Infosys will focus on global markets, delivery and service innovation

Infosys Ltd on Friday appointed BG Srinivas and UB Pravin Rao as the presidents of the company with immediate effect. Both the presidents will report to SD Shibulal, chief executive officer and managing director.
 

In a statement, Infosys said its business portfolios will be realigned under the two presidents. BG Srinivas will focus on global markets while UB Pravin Rao will focus on global delivery and service innovation.
 

Infosys also said, the executive council as a forum, will discontinue with effect from 1 April 2014.
 

During last quarter Infosys have seen reshuffling of its management which follows several senior-level departures from the IT company since its founder, NR Narayana Murthy, returned in June 2013.
 

On 20 December 2013, V Balakrishnan, head of Infosys BPO, Finacle, India Business Unit, as well as chairman of Infosys Lodestone, resigned from Infosys. He was with Infosys Ltd since 1991.
 

On 19 December 2013, senior vice president and a member of Infosys' Executive Council Subrahmanyam Goparaju also resigned from Infosys. 
 

During the same period, Infosys also announced the induction of Kiran Mazumdar-Shaw as an independent member of the Board, while UB Pravin Rao was inducted as a whole-time director.
 

Infosys closed Friday 2.61% higher at Rs3565.45 on the BSE, while the 30-share BSE S&P Sensex ended marginally down at 20,851.

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COMMENTS

Suiketu Shah

3 years ago

10 Jan big day for Infosys.Results shd be good.Lets wait and watch.

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