Technology
Snopes and Izitru: Separate Fact from Fiction

These days, we receive so many mails, some of them well meaning but, sometimes, incredible. We need some means to verify whether the stories we get are really true. Snopes.com comes to the rescue in such situations. It is the definitive Internet reference source for urban legends, folklore, myths, rumours and misinformation. Use the search box to locate your item of interest, or click the icons to browse the site by category. If you don’t find the story you are looking for, you can even submit a rumour on the site to find out whether it is true or not. Similarly, if you get a photograph which is difficult to believe, you can upload it on www.izitru.com and get an instant report on whether the photograph is an original or modified! Both are very useful tools to satiate your curiosity and be a better-informed citizen.

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Nifty, Sensex may head higher – Tuesday closing report
We had mentioned in Monday’s closing report that Sensex, Nifty were likely to record more gains. The major indices of the Indian stock markets were range-bound on Tuesday and closed with small gains over Monday’s close. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
 
 
Reduction in a key lending rate, coupled with short covering and value buying, pushed up the Indian equity markets on Tuesday. The key indices which opened on a higher note following positive cues from Asian markets, held on to their gains after the Reserve Bank of India (RBI) announced a 25 basis points cut in one of its key lending rates. Buying was witnessed in interest-sensitive stocks in oil and gas, banking and metals. The BSE market breadth was tilted in favour of the bulls -- with 1,689 advances and 1,156 declines. On the NSE, there were 826 advances, 615 declines and 62 unchanged.
 
The Monetary Policy Committee of the Reserve Bank of India (RBI) cut a key lending rate by 25 basis points on Tuesday at the conclusion of its first meeting over two days, bringing much relief to commercial banks and India Inc. With the decision, the repurchase rate, or the short-term lending rate charged by the central bank on borrowings by commercial banks, stands lowered to 6.25%. The reverse repurchase rate also automatically stands lowered to 5.75%.  This was the first meeting of the new policy panel, constituted by the government with the primary mandate to ensure a retail inflation of 4%, plus or minus a band of two percentage points. The panel said in a statement that the decision taken on Tuesday was consistent with an accommodative stance, with the objective of achieving the inflation target.  All six members of the panel, chaired by RBI Governor Urjit Patel, voted in favour of the monetary policy decisions -- the minutes of which will be released on October 18. The markets responded to the decision with a spike in key indices.
 
The World Bank has said India's GDP growth will remain robust at 7.6% in 2016 and 7.7% in 2017. "In India, GDP growth will remain strong at 7.6% in 2016 and 7.7% in 2017, supported by expectations of a rebound in agriculture, civil service pay reforms supporting consumption, increasingly positive contributions from exports and a recovery of private investment in the medium term," the multilateral lender said in its latest report on South Asia Economic Focus released here on Monday. "However, India faces the challenge of further accelerating the responsiveness of poverty reduction to growth, promoting inclusion, and extending gains to a broader range of human development outcomes related to health, nutrition, education and gender," the report said.
 
Reliance Infrastructure (R-Infra) said on Monday that it has, through share acquisition, converted, into subsidiaries, its two earlier associate companies BSES Yamuna Power Ltd (BYPL) and BSES Rajdhani Power Ltd (BRPL) that supply power to major parts of Delhi. The two distribution companies (discoms) - BRPL and BYPL- "were previously associates of the Company," BSES said in a stock exchange filing disclosing the share acquisitions.  "Through the acquisition, the target companies have become subsidiaries of the company thereby strengthening the control of the Company over the target companies," it said.  "In both the companies the shareholding has increased from 28.82 per cent to 51 per cent through the acquisition," it added. R-Infra said that while BRPL had a turnover of Rs 9,234.09 crore in 2015-16, BYPL had a turnover of Rs 5126.88 crore for during the same period. Reliance Infrastructure also said it has similarly made subsidiaries of associate toll road companies SU Toll Road Pvt Ltd, TD Toll Road Pvt Ltd. and TK Toll Road Pvt Ltd. 
The company’s shares closed at Rs589.75, down 1.04% on the BSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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Hyundai Motor India recalls 7,657 Eon cars
Automobile major Hyundai Motor India on Tuesday announced the voluntary recall of 7,657 units of entry-level hatchback Eon cars manufactured between January 1 and 31, 2015, the company said in a statement.
 
"Eon customers of the respective period will be notified in a phased manner for inspection of the clutch cable fouling with battery cable and replace the battery cable if found damaged," the statement said.
 
According to the company, the recall has been initiated to inspect the "clutch cable fouling with battery cable" of Eon cars produced in the month of January 2015.
 
"As a responsible manufacturer, Hyundai Motor India continues to ensure the quality of products offering to its customers and encourage owners of all affected Eon cars to take them to authorised Hyundai Dealers," the statement added.
 
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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