Citizens' Issues
One dead as mob caned to avert clash over Tipu
A VHP member fell to death on Tuesday, as police caned and fired tear gas on a mob to avert a clash over the celebration of 18th century Mysuru ruler Tipu Sultan's 265th birth anniversary here, police said.
 
"The victim (D.S. Kuttappa, 60) succumbed to injuries he sustained after accidentally falling from a retaining wall to the ground 15-20 feet below after he ran away from a trouble spot where a huge mob was caned to disperse to avoid a clash on the Tipu event," Kodagu district superintendent of police Vartika Katiyar told IANS.
 
Nestled in the southern Western Ghats region, the hilly town of Madikeri is about 270 km from Bengaluru in southwest Karnataka.
 
Denying initial reports that Kuttappa died in a clash or stone-throwing between protestors and supporters, Katiyar said as almost everybody ran helter-skelter to avoid being caned, the victim too fled from the trouble spot and ran towards a compound wall of a hospital and jumped off without noticing it was on a hilltop.
 
"He (Kuttappa) did not die in stone pelting or clash as we dispersed the mob to avoid such an incident and prevent the situation going out of control," Katiyar clarified.
 
Though the victim was rushed to the state-run hospital, he succumbed to head injuries that he sustained in the fall.
 
"The situation has been brought under control as we have imposed a ban on assembly of more than five people in the town under section 144 of the CrPC," Katiyar added.
 
Condoling Kuttappa's death, Karnataka Chief Minister Siddaraimaiah told reporters in Bengaluru that there was a deliberate attempt to prevent the state government and the people from celebrating Tipu's birthday (jayanthi).
 
"Protests against jayanthi is intolerance. The Bihar assembly election results showed there is no place for intolerance in the country," Siddaramaiah said.
 
Meanwhile, the Bharatiya Janata Party sought a probe into the death of Kuttappa, even as the party boycotted Tipu jayanthi celebrations across the state.
 
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.

User

Real estate sector showing optimism in urban India
A sudden decline in home loan rates as a result of base rate cut by the RBI has boosted the sentiment in the Indian real estate sector, says Liases Foras in a research note
 
The performance of the Indian real estate sector during the second quarter as been encouraging and reflects an air of optimism. While price levels kept users’ curiosity intact, lower interest rates lead to increased number of inquiries. “Even as the performance of Q2 FY 2015-16 showed decline on a quarterly basis, the overall buoyancy in the market is palpable. The developments at the macro level seem promising and it is likely that the year will end on a positive note for the residential realty sector,” says Liases Foras in a research note.
 
According to the firm, during the second quarter, sales across eight major cities in India improved by 17% to 67.9 million sq ft from 57.8 million sq ft in Q2 2014-15. 
 
Decline in commodity prices has favoured the developers by bringing down their cost of construction. This arrested unwarranted rise in price levels and kept the end user’s interest intact, points out Liases Foras. In second quarter of FY15-16, the weighted average price of all the major cities in India stood at Rs6,491 per sq ft, with the rise of a meagre 1% both annually and quarterly.
 
 The movement in prices in select cities is given in the table below:
 
 
According to Liases Foras, a sudden decline in home loan rates as a result of base rate cut by the Reserve Bank of India (RBI) came as a pleasant surprise and boosted overall sentiment in the Indian real estate sector. Following the rate cut, some of the leading banks and housing finance companies reduced interest rates on home loans by nearly 25 basis points.
 
The sales performance in the major cities in the real estate sector is given in the table below:
 
 
All eight cities cumulatively clocked highest sales in the cost range of Rs50 lakh-Rs1 crore, with the sales of 22.4 million sq ft (33%), followed by cost range of Rs25 lakh-Rs50 lakh.
 
Increased number of inquiries at the onset of the biggest festive season in the country is accentuating the performance of the sector. Attractive offers, discounts and freebies have definitely led to an increase in inquiries, which is instrumental in improving the conversion rates. However, when viewed from a quarterly basis, the performance has been tepid with Ahmedabad, Kolkata, MMR and Pune on the downside. Hyderabad and Pune witnessed a rise in more than 12% sequential rise in unsold stock, the research note says.

User

COMMENTS

SuchindranathAiyerS

7 months ago

This is long overdue. I was debited with renewal fee on a cancelled Standard Chartered Gold Card when I had shifted to Nairobi from Bangalore. Interest was added on it. The debt collector came and badgered my father who, without consulting me, settled. On my return, the Bank began t badger me again. I took the documents and threatened to take them to court. They gave me a letter confirming that I owed them nothing. Years later, I was refused a Credit Card by HSBC with whom I had banked for decades. Luckily, as a former banker, I used my contacts to get a copy of my credit report. I took it to Standard Chartered and told them that if they do not issue a letter to HSBC forthwith, I shall take them to court. They delivered. But think of the stress and trauma for my father who was in his eighties at the time, and the humiliation for me. What happens to somebody without the contacts to get a copy of the credit report to threaten the puisine Bank that behaves like a an Indian High Court that will set aside the Indian Penal Code to favour the sum of the Earth?

Nifty, Sensex to remain weak – Tuesday closing report
While Nifty is oversold on an intraday basis and due for a short bounce, the trend is down
 
We had mentioned in Monday’s closing report that Nifty, Sensex will make a laboured rise and that Nifty is headed higher subject to small dips. The market was bearish on Tuesday and all major indices in the Indian stock markets suffered sharp losses of around 1.5%. Trading volumes were also not too high due to the festival season.
 
The trends of the major indices during the day’s trading are given in the table below:
 
 
Both the bellwether indices opened Tuesday in the negative territory on the back of bearish sentiments following the BJP's rout in the Bihar election, heightened chances of a US rate hike and disappointing quarterly results.
 
In the automobile sector, low interest and fuel costs supported by a pent up demand and new launches during the festive season gave a boost to the domestic passenger car sales last month. The domestic passenger car sales grew by 21.80%, industry data showed on Tuesday. According to data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during October stood at 194,158 units against 159,408 units in the like month of the previous year.  The data revealed that the total passenger vehicle sales, which include cars, utility vehicles and vans, went up by 21.46% to 268,629 units from 221,163 units sold in October 2014. Furthermore, sales of utility vehicles rose by 20.82% to 58,120 units. The off-take of vans increased by 19.79% to 16,351 units. The industry data for last month showed a 12.73% growth in the overall commercial vehicles segment sales, which is a key indicator of economic activity. The commercial vehicles segment off-take for October stood at 58,596 units from 51,978 units sold during the corresponding month of 2014. Overall exports across categories for the month under review was lower by 5.56% at 289,309 units sold abroad from 306,357 units shipped out during October, 2014. The S & P BSE Auto index rose by 0.1% in Tuesday’s trading.
 
Thanks to a dip in the prices of gold this year, brisk buying of the precious metal was seen as people opened their purse strings for Dhanteras. The newly minted "Made in India" gold coin also saw good sales. The gold coin launched by the government last week, with the images of Ashok Chakra and Mahatma Gandhi, also saw some good buying. "Till 4 p.m. we expect at least 5,000 coins to have been sold across our 18 outlets in India," an official of the Metals and Minerals Trading Corporation (MMTC) told IANS, declining to be named.  MMTC, a state-run unit, is the official manufacturer of this coin. About 15,000 coins of 5 gm, 20,000 coins of 10 gm and 3,750 gold bullions were made available through MMTC outlets initially, the government said on the day of launch.
 
The top gainers and top losers of the indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)