Stocks
Nifty, Sensex may rally a bit – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex would continue to be in a mild downtrend. The major indices of the Indian stock markets were range-bound on Wednesday and closed with small gains. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
Value buying, along with short covering and a firm rupee, lifted the Indian equity markets during the mid-afternoon trade session on Wednesday. Buying was witnessed in automobile, banking and capital goods stocks. The BSE market breadth was tilted in favour of the bulls -- with 1,644 advances and 1,003 declines. On the NSE, there were 932 advances, 482 declines and 70 unchanged. 
Short covering and value buying after last couple of day's falls has pulled the equity markets up. Banking sector, especially the public sector banks, are leading the recovery. Positive European markets and a firm rupee have also supported the upward movement. The CNX Nifty traded with firm sentiments due to short covering. IT (information technology) stocks faced profit booking at higher levels. Auto, oil-gas and textile stocks also traded firm. Aviation and FMCG stocks traded with mixed sentiments due to profit booking. Power and cement stocks also traded firm on buying support.
 
Software major Infosys Ltd on Wednesday unveiled a mobile first and modular platform to drive e-commerce programmes across retail channels. The platform has been developed by Skava, a Silicon Valley-based e-commerce start-up that the IT major acquired in June 2015 for $120 million, to enable businesses leverage cloud-based micro-services and white label applications to launch new offerings and improve conversion rates of digital channels. "The platform can integrate into present technologies, while providing a future-ready architecture for next-generation shopping experiences leveraging artificial intelligence (AI) and machine learning, natural language processing and virtual reality (VR)," the IT major said. Infosys shares closed at Rs1,038.60, down 0.18% on the BSE.
 
Oil prices fell on Tuesday as Iran said it was not willing to freeze its oil output at current levels, denting market expectation for an output-freeze deal among Organisation of the Petroleum Exporting Countries (OPEC) members. Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday that the country wants to raise its crude production to four million barrels a day from 3.6 million at current level. It's "not on our agenda" to reach agreement at the OPEC talks in Algiers, he said. Instability in oil prices could start bearish trends in the Indian stock markets.
 
Bharti Airtel has made incoming calls free for international roaming and also launched various packs for its both prepaid and postpaid customers to facilitate travelling abroad, a company statement said here on Wednesday. "With the new international roaming packs, customers will have the convenience of carrying their India mobile number wherever they go and stay connected 24x7 without having to worry about high call and data charges. The packs will be available to both postpaid and prepaid customers," the statement said. "Charges for calls to India and local in-country calls have been reduced to as low as Rs3/min across popular destinations," it added. Bharti Airtel shares closed at Rs322.45, up 2.69% on the BSE.
 
The telecom operators are grappling with a huge debt burden of Rs3.80 lakh crore, reinforcing a case for rationalisation of taxes and other levies, along with high spectrum charges, says a study. The telecom operators have an accumulated debt of around Rs3.8 lakh crore and an additional customs duty of 10% will lead to an increase in cumulative duty to 29.44%, according to the Assocham-KPMG study, released here on Wednesday. "Even though consumers are having the last laugh with competitive offers from the major players, the service providers need to penetrate further into the fast expanding data market and create a volume that will keep their cash flow running," said Assocham Secretary-General D S Rawat. Simplification and rationalisation of tax regime will provide the required financial stability to the Indian telecom industry, said the Assocham-KPMG joint study, adding that spectrum usage charges (SUC) in India are comparatively higher than other economies. The telecom sector is expected to contribute 8.2% or Rs14 lakh crore to the gross domestic product (GDP) by 2020, the study said. The S & P BSE Telecom index closed at Rs1,197.99, up 2.33% on the BSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the Asian indices are given in the table below:
 

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Legal Aid: Here are things that your need to know
"The judicial system is improving considerably in India. Of course, taking every issue to the courts is not the solution and the administration has to do it's job properly. However, today in India, the common man is at least able to approach the courts, unlike some developing countries," says Advocate Jamshed Mistry. He was speaking at the tenth session under the "Police & You" series.  
 
Moneylife Foundation with Police Reforms Watch and support from Saraswat Bank have launched the 12-week program (every Wednesday) that aims to spread knowledge about protecting yourself, your rights, the Indian Penal Code (IPC), cybercrime and economic offences. This was the eleventh such session.
 
The event was held in the well-appointed auditorium of Saraswat Bank headquarters, Eknath Thakur Bhavan. 
 
The eleventh session of the 12-week series on "The Police & You- Legal Aid-what you need to know about it" was conducted by Adv Mistry, Adv Laxmi Maria Jenkins, activist Raju Waghmare and Adv Rajeev Ravi. All the speakers provided guidance on Right to Legal Aid, who is eligible for free legal aid, how one can request for legal aid and who receives it.  
 
Adv Jenkins, who handles litigation and non-litigation legal services, and has appeared as a lawyer for those requiring legal aid, explained various aspects of legal aid. She said, Article 39A of the Constitution of India provides for free legal aid to the poor and weaker sections of the society and ensures justice for all. In every State, a State Legal Services Authority and in every High Court, a High Court Legal Services Committee has been constituted. District Legal Services Authorities and Taluka Legal Services Committees have been constituted in the Districts and most of the Talukas in order to give effect to the policies and directions of the National Legal Services Authority (NALSA) and to provide free legal services to the people and conduct Lok Adalats in the State. 
 
"There is no court fee and even if the case is already filed in the regular court, the fee paid will be refunded if the dispute is settled at the Lok Adalat. There is no strict application of the procedural laws and the Evidence Act while assessing the merits of the claim by the Lok Adalat. The parties can interact with the Lok Adalat judge directly and explain their stand in the dispute and the reasons therefore, which is not possible in a regular court of law. Disputes can be brought before the Lok Adalat directly instead of going to a regular court first and then to the Lok Adalat. Decision of the Lok Adalat is binding on the parties to the dispute and its order is capable of execution through legal process. No appeal lies against the order of the Lok Adalat," she said.
 
 
The free legal services include, payment of court fee, process fees and all other charges payable or incurred in connection with any legal proceedings; providing advocate in legal proceedings; obtaining and supply of certified copies of orders and other documents in legal proceedings; preparation of appeal, paper book including printing and translation of documents in legal proceedings. 
 
Women and children, members of scheduled cast or tribe (SC/ST); industrial workmen; victims of mass disaster; violence, flood, drought, earthquake, industrial disaster; disabled persons; persons in custody; persons whose annual income does not exceed Rs50,000 and victims of trafficking in human beings are eligible for receiving free legal services from NALSA, Adv Ravi said.
 
Explaining the procedure followed while providing legal aid, Adv Ravi said, after examining the eligibility criteria of an applicant and the existence of a prima facie case in favour, the Legal Services Authorities provide the person counsel at State expense, pay the required court fee in the matter and bear all incidental expenses in connection with the case. The person to whom legal aid is provided is not called upon to spend anything on the litigation once it is supported by a Legal Services Authority, he added.
 
Mr Waghmare, an activist working for the betterment of disabled people through workshops, heling government draft policies and filing public interest litigations (PILs), says, "There are some organizations, which help people with disabilities in legal matters like health, women or human rights issue. Some even help in filing public internet litigations (PILs)". 
 
Talking about providing legal help to people with multiple sclerosis, Mr Waghmare says, "The person has to obtain a certificate from the doctor, especially from a district Civil hospital. For Mumbai, it is the JJ Hospital. With the certificate, the person can write to the authorities. While free legal help depends upon the disability, there are certain non-government organizations that are providing such help."
 
Disabled Indians are treated as second-class citizens and are forced to confront segregation, discrimination, barriers and stereotypes. An entire range of disability issues -- such as the causes of disability, care, rehabilitation, empowerment, mainstreaming through education, employment, health care, and transportation – wait to be practically resolved. 
 
 
According to recent Census data, the number of disabled population has increased by 22.4% between 2001 and 2011. During this period, the number of disabled rose to 2.68 crore in 2011 with 1.5 crore males and 1.18 crore females, from 2.19 crore 10 years ago.  Most of the disabled are those with movement disability. According to the census, 20.3% of the disabled are movement disabled followed by hearing impaired (18.9%) and visually impaired (18.8%). Nearly 5.6% of the disabled population is mentally challenged, a classification introduced in the 2011 census shows. 
 
The final session of this 12-week series will be held on Saturday, 1 October 2016 at 3.30pm to 6pm. This will be session on “Anti-Corruption Bureau: How it functions?” Dr Pradnya Saravade, Maharashtra’s Additional Director General of Police (Administration), who also headed the state ACB will be the Chief Guest at the event. She will also handout participatory certificates to those who attended all 12 programs in this Series. 

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COMMENTS

Vaibhav Dhoka

8 months ago

The picture at civil courts due to delay is very much annoying,so also in criminal cases at lower level is disturbing.Public is bullied by court staff and advocates in the name of procedure and taking hefty charges is routine.Due to delayed justice extrajudicial acts are on rise.

Vaibhav Dhoka

8 months ago

The picture at civil courts due to delay is very much annoying,so also in criminal cases at lower level is disturbing.Public is bullied by court staff and advocates in the name of procedure and taking hefty charges is routine.Due to delayed justice extrajudicial acts are on rise.

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