Uddhav Thackeray has written to the secretariat of Maharashtra Legislature seeking appointment of party's group leader Eknath Shinde as the leader of opposition
Ending the days of high-drama, often one-sided, the Shiv Sena on Monday staked claim for the seat of Leader of Opposition (LoP) in Maharashtra Assembly. Either the Shiv Sena leadership is using this as part of its 'pressure' tactics on chief minister Devendra Fadnavis and his Bharatiya Janata Party (BJP), or may have simply gave in to 'unbearable' humiliation and endless waitings.
Shiv Sena president Uddhav Thackeray has written to secretariat of the state legislature seeking appointment of party's group leader Eknath Shinde as the LoP, say reports.
Earlier, members of legislative assembly (MLAs) from Shiv Sena elected Eknath Shinde, a loyalist of party chief Uddhav Thackeray as its leader in the house. Shinde, who won from Thane for the second time, would become the LoP, unless there is any (?) last minute deal between BJP and Shiv Sena.
Separately, Nationalist Congress Party (NCP) chief Sharad Pawar reiterated that the party’s offer to support the BJP government in Maharashtra must be seen as an endeavour to have a stable government in the State. Asked if he has sent a letter of support to the governor, he said, “why should we give anything in writing. We know how to act in the floor of the house.”
NCP abstaining from a vote will bring down the effective size of the house to 247, bringing the BJP within sniffing distance of comfortably winning the trust vote in the 288 member Assembly.
BJP has 121 MLAs in the 288-member House and the 41-member NCP has assured its outside support to the new government. Sena, led by Uddhav Thackeray, has 63 MLAs.
GN Dairies was running a scheme of cattle, calf, ghee and mobilizing funds from investors without obtaining any permission from SEBI
Market regulator Securities and Exchange Board of India (SEBI) has asked GN Dairies Ltd and its directors to wind up its collective investment scheme (CIS) and refund money gathered from investors within three months.
In an order, Rajeev Kumar Agarwal, Whole Time Member, SEBI, directed GN Dairies and the company directors Sunil Dutt, Hardeep Singh Wahla and Ranjodh Singh to submit a winding up and repayment report. SEBI also barred the company and its directors from markets till GN Dairies refund money to investors.
SEBI said, "GN Dairies was running a scheme/arrangement of cattle/ calf / ghee and mobilizing funds from investors / public under its schemes without being registered with SEBI and as a result of the aforesaid activity has violated provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999.
In addition, the market regulator barred Sukhjit Kaur, Soly Thomas and Satnam Singh Randhawa from the securities markets for one year.
Without strong news flows, Nifty will struggle to rally higher
In Friday’s closing report, we had mentioned that it is most likely that the Indian indices may give up some gains. We had also mentioned that if the NSE’s CNX Nifty closes above 8,365, the short-term rally would continue for some more days. After a gap up opening on Monday, the index immediately rose to a new life time high, however, unable to sustain at that level it slid down in to the negative. The index traded in the negative upto 2.00pm after which it managed to rebound in the green territory.
S&P BSE Sensex opened at 27,919 and moved from the new life time high of 28,028 to the low of 27,765 and closed at 27,875 (up 6 points or 0.02%). Nifty opened at 8,338 and hit a high at 8,383. After reaching to the level of 8,304 the index closed at 8,344 (up 7 points or 0.09%). NSE recorded a volume of 90.81 crore shares. INDIA VIX fell 1.27% to close at 13.9300.
The much-awaited cabinet reshuffle ended with four ministers being allotted cabinet rank, whereas three taking charge as Ministers of State (independent charge) and remaining 14 took oath as MoS. The Modi cabinet now has 66 ministers.
The government will unveil industrial production data for September 2014 on Wednesday.
BEML (6.98%) was among the top two gainers in the ‘A’ group on the BSE. Buying interest in railway stocks was boosted with the appointment of Suresh Prabhu as the new Railways Minister. Market anticipates that he will carry reforms and bring investments into the sector.
Engineers India (12.32%) was the top loser in ‘A’ group on the BSE. It posted weak September 2014 quarter result after-market hours on Friday. It posted a net profit of Rs58.78 crore for the September 2014 quarter as compared to Rs111.86 crore for the September 2013 quarter. Revenue fell from Rs465.18 crore to Rs390.64 crore for the relevant quarter.
Strong second quarter result posted by Taro (subsidiary of Sun Pharma) helped Sun Pharma (2.09%) to be among the top two gainers in the Sensex 30 pack. It also hit its 52-week high today.
ONGC (3.59%) was the top loser in the Sensex 30 stock. Directorate General of Hydrocarbons has approved commerciality of the oil and gas discoveries in the northern area of state-owned ONGC's prolific KG-D5 block in Bay of Bengal.
US indices closed Friday flat.
The Bureau of Labor Statistics report showed the US created 214,000 jobs in October, nudging the unemployment rate down a notch to 5.8%, as many companies added workers to gear up for the holiday season. The economy has now added 200,000 workers or more for nine straight months, a feat last accomplished in 1994.
Except for Jakarta Composite (0.44%) and Nikkei 225 (0.59%) all the other Asian indices closed in the green today. Shanghai Composite (2.30%) was the top gainer.
China's consumer price inflation remained at a near five-year low last month, easing concerns of deflation risks. But the wholesale sector stayed entrenched in a deflationary spiral with the producer price index falling by a worse-than-expected 2.2% on year, data released by National Bureau of Statistics of China today showed.
China's exports jumped 11.6% in October 2014 from a year earlier, according to Chinese customs data released on Saturday. China's imports rose 4.6% in October 2014.
European indices were trading in the green. US indices too were trading little higher.