Citizens' Issues
Maharashtra launches crime tracking system
On the occasion of the 70th Independence Day, Maharashtra launched the country's first comprehensive 'Crime Criminal Tracking Network System' through 42 cyber labs inaugurated simultaneously here on Monday.
 
Chief Minister Devendra Fadnavis, while launching the CCTNS, announced that the whole of Mumbai would be under closed-circuit television monitoring by October, while similar projects are underway in other major cities like Pune and Nagpur.
 
Under the CCTNS, the state government will raise a special cyber police force of around 1,000 policemen well trained to handle the growing incidents of cyber crimes, he added.
 
"Advanced technology will be deployed for the safety and security of all the citizens and their properties through the cyber police force," Fadnavis said at the inauguration ceremony of the cyber lab at the World Trade Centre.
 
He pointed out that through the growing use of Internet, criminals are using advanced techniques to commit newer types of online crimes and the cyber labs would attempt to track and curb them.
 
Under the CCTNS, all police stations in the state will be linked with one another for sharing information about crimes in their respective jurisdictions and pave the way for a "digital police force" in Maharashtra.
 
The services of the cyber labs, linked by secure high-speed fibre optic cable network, will be available to address security concerns of private organisations and banks among others, Fadnavis added.
 
The Centre for Development of Advanced Computing (CDAC), Pune, was instrumental in completing the work on setting up the 42 cyber labs across the state in just three weeks, said Inspector General of Police Brijesh Singh, IT expert and Cyber and Crimes against Women Cell in the Mantralaya.
 
Director General of Police Satish Mathur said as the country gets linked through information technology, hackers attempt to break it. He said law and order situations are created on social media networking sites which would henceforth be tackled effectively through the cyber labs.
 
Present on the occasion were Additional Chief Secretary (Home) K.P. Bakshi, Mumbai Police Commissioner Datta Padsalgikar, Mayor Snehal Ambekar and other top police and civilian officials.
 
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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Petrol cut by Re 1 a litre, diesel by Rs 2
Amid the recent fluctuation in global oil prices, state-run Indian Oil Corp (IOC) cut the price of transport fuels effective from Tuesday, of petrol by Re1 a litre and of diesel by Rs2, both at Delhi, with corresponding decrease in other states.
 
Making its previous fortnightly revision in fuel prices on August 1, the IOC had cut petrol by Rs1.42 a litre and diesel by Rs2.01 paise, both at Delhi.
 
Petrol per litre from Tuesday costs Rs60.09 in Delhi, Rs64.18 in Kolkata, Rs65.04 in Mumbai and Rs59.65 in Chennai.
 
Similarly, diesel will cost Rs50.27 in Delhi, Rs52.86 in Kolkata, Rs55.64 in Mumbai and Rs51.65 in Chennai.
 
The Indian basket of crude oils closed trade on Thursday at $41.82 a barrel, lower than $41.97 on the previous day, as per official data.
 
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 still on an uptrend but risks rising – Weekly closing report
We had mentioned in last week’s closing report that Nifty, Sensex were to head higher. The major indices of the Indian stock markets were in a flat-to-bullish trend on most days of the week. However, on Tuesday the market turned a little bearish. Over the whole week, the major indices have made marginal gains of less than 0.5%. The trends of the major indices in the course of the week’s trading are given in the table below:
 
 
On Monday, sector-wise, healthy buying was witnessed in automobile, oil and gas, and consumer durables stocks. The BSE market breadth was tilted in favour of the bulls -- with 1,542 advances and 1,212 declines and 154 unchanged. On the NSE, on Monday, there were 900 advances, 725 declines and 230 unchanged. Gains were capped due to caution ahead of the Reserve Bank of India's monetary policy review.
 
FMCG major Britannia Industries Ltd. on Monday reported a 13% rise in its consolidated net profit to Rs219.13 crore in the quarter ended June 30, 2016, as compared to Rs193.66 crore in the corresponding period in 2015. Its consolidated revenue in the quarter under review grew 8% to Rs2,162 crore against Rs1,998 crore in the year-ago period. The share price of the company closed at Rs3,143.00, up 9.07% on the BSE.
 
Profit booking, along with lower crude oil prices and a weak rupee, dented the Indian equity markets during the mid-afternoon trade on Tuesday. Selling pressure was seen in automobiles, fast moving consumer goods (FMCG) and metal stocks. The BSE market breadth was skewed in favour of the bears -- with 1,569 declines and 1,185 advances.  On the NSE, there were 542 advances, 912 declines and 58 unchanged. According to market analysts, consolidation and profit booking in the absence of any fresh positive development dragged the equity markets lower. Most IT (information technology) stocks traded down, while banking and pharma stocks traded with mixed sentiments. Auto and aviation sector stocks faced selling pressure. Most FMCG stocks traded down due to profit booking.
 
 On Tuesday, Reserve Bank of India (RBI) Governor Raghuram Rajan kept key policy rates unchanged in his last monetary policy review as the governor, with little elbow room on account of the country's retail inflation inching closer to the upper tolerance level of 6%. Accordingly, the repurchase (repo) rate or the interest commercial banks pay the central bank for short-term loans remains unchanged at 6.5%. The cash reserve ratio (CRR) that scheduled banks have to keep in the form of liquid funds also remains unaltered at 4% of deposits. In the previous policy update, too, conducted on June 7, the policy rates were left unaltered.
 
Profit booking, along with negative global cues and caution over upcoming quarterly results, dragged the Indian equity markets lower during the late-afternoon trade session on Wednesday. Heavy selling pressure was witnessed in automobile, banking and healthcare stocks. The BSE market breadth was skewed in favour of the bears -- with 1,896 declines and 832 advances. On the NSE, on Wednesday, there were 335 advances, 1,116 declines and 48 unchanged.
Most banking and pharma stocks traded down, while IT (information technology) and auto stocks also faced resistance at higher levels. Aviation stocks traded with sideways to firm sentiments on higher crude oil prices. Indian markets continued to trade with weakness and underperformed its global peers.
 
JK Tyre & Industries (JKTIL) on Tuesday reported a consolidated net profit of Rs100.26 crore for the quarter ended June 30, 2016. According to the company, its consolidated net profit for the corresponding period of last fiscal stood at Rs117.07 crore. "Consolidated financial results published, as opted by the company, include working of Cavendish Industries Ltd., acquired on April 13, 2016 which restarted its operations in mid-May, 2016," the company said in a regulatory filing to the BSE. "Therefore, results of the quarter are not comparable with previous period." The company's total income during the quarter under review stood at Rs1,786.77 crore from Rs1,771.06 crore earned during the corresponding period of 2015-16. The shares of the company closed at Rs102.20, down 2.76% on the BSE on Wednesday.
 
On Thursday, the Indian equity markets traded flat for most of day. Selling pressure was witnessed in automobile, metal and capital goods stocks. The markets were bearish with BSE having 1,165 advances, 1,500 declines and 67 unchanged. On the NSE, there were 585 advances, 871 declines and 62 unchanged.
 
Automobile manufacturer Mahindra and Mahindra (M&M) on Wednesday reported a rise of 12.36% in its standalone net profit for the first quarter of the current fiscal. According to the company, Q1 standalone net profit stood at Rs955.21 crore from Rs850.09 crore for the quarter ended June 30, 2015. The company informed the BSE in a regulatory filing that its total revenue from operations during the quarter under review increased by 14.05% to Rs11,942.90 crore from Rs10,470.86 crore for the quarter ended June 30, 2015. The company said in a statement that while public investment expenditures remain strong, urban demand has been picking up pace since the third quarter of the previous fiscal and is expected to receive further impetus from the Seventh Pay Commission awards, which will be given effect in the current month. The company elaborated that rural demand can be expected to gather further strength in the coming months given the robust rainfall received thus far and IMD's (India Meteorological Department) prediction of normal rains for the rest of the monsoon season. The company cited that weak external demand, underutilised capacities and balance sheet stress have hindered domestic private investment. The company’s shares closed at Rs1,420.70, down 1.88% on the BSE, on Thursday.
 
Positive global cues on the back of higher crude oil prices lifted the Indian equity markets on Friday. Healthy buying was witnessed in banking, automobile and metal stocks. However, negative European markets and caution over the upcoming macro-economic data capped gains in the afternoon session. Stocks of SBI (State Bank of India) traded firm on positive Q1 (first quarter) earnings. However, IT (information technology) and pharma stocks traded with mixed sentiments on profit booking, pointed out market analysts. Friday’s rally was sufficient for the major indices to go up by around 1% over Thursday’s close.

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COMMENTS

Vikas Das

4 months ago

Hi, very informative article.
I am 28 years old and I am searching for good investment options. I just came to know about peer to peer lending as an emerging platform in India and wanted your views on that.

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