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Goldman Sachs forecasts that Indian equities will remain rangebound over the next three months after entering correction territory, following the worst earnings season in four years. The brokerage maintains a "marketweight" stance on Indian stocks, projecting the Nifty 50 index to reach 24,000 points, representing a nearly 3% increase from current levels. This marks a shift from last month’s prediction of a slight decline. The Nifty and BSE Sensex have both fallen over 10% from their all-time highs due to significant foreign outflows and disappointing corporate earnings. Goldman anticipates a long-term recovery, with the Nifty potentially hitting 27,000 in 12 months, driven by expected earnings growth of 13%-16% in 2025. However, the firm cautions that current valuations, at nearly 23 times forward earnings, remain above what they consider 'fair value,' posing a risk of further de-rating. 
Published: Nov 21 2024, 2 pmeznews.inVice President Jagdeep Dhankhar voiced concerns over unfulfilled promises to farmers during a ceremony marking the centenary of the Indian Council of Agricultural Research-Central Institute for Research on Cotton Technology in New Delhi. Addressing Union Agriculture Minister Shivraj Singh Chouhan, Dhankhar questioned the government's failure to meet commitments made to farmers, despite India's rising global stature. He emphasized the urgency of the situation, noting ongoing farmer protests and their demands for guaranteed compensation and benefits under new laws. Farmers have been demonstrating at border points between Punjab and Haryana since February, with recent protests in Delhi exacerbating traffic disruptions. Dhankhar's remarks reflect his ongoing advocacy for farmers, highlighting their struggles amid India's progress and questioning the effectiveness of current agricultural policies. There has been no response from Chouhan regarding the Vice President's inquiries.
Published: Dec 03 2024, 9 pmeznews.inUnion Aviation Minister Kinjarapu Rammohan Naidu has introduced a bill in the Rajya Sabha aimed at replacing the 90-year-old Aircraft Act, following its passage in the Lok Sabha in August. The Bharatiya Vayuyan Vidheyak, 2024, was prompted by recommendations from the International Civil Aviation Organization (ICAO) to amend the existing legislation. Mr. Naidu highlighted the aviation sector's potential to boost the economy, noting a significant increase in the number of airports from 74 in 2014 to 157 and a doubling of the aircraft fleet to 813. The new bill aims to clarify the roles of regulatory bodies like the DGCA, define key terms related to aviation maintenance, design, and manufacturing, and establish a robust legal framework to promote foreign investment and compliance with international standards. However, concerns were raised by Congress MP Syed Naseer Hussain regarding the bill's Hindi name and the centralization of power within the civil aviation sector.
Published: Dec 03 2024, 9 pmeznews.inIn a critical meeting in Mumbai on Tuesday, senior BJP leader Devendra Fadnavis and outgoing Shiv Sena chief Eknath Shinde discussed the impending decision on Maharashtra's next Chief Minister. With the BJP's newly elected MLAs set to convene, speculation mounts that Fadnavis, a former Chief Minister, may reclaim the position following the BJP's significant electoral gains. However, Shinde's potential demotion poses challenges, as he has indicated a willingness to step aside but remains publicly displeased. The BJP is expected to maintain a "1+2" formula, appointing Fadnavis as Chief Minister and allowing Shinde's faction and Ajit Pawar's NCP to nominate Deputy Chief Ministers. Amidst this political maneuvering, Shinde's recent hospital visit has fueled speculation, although his team insists it was a routine check-up. The BJP's dominance in the Assembly, winning 132 of 288 seats, positions it favorably for leadership, despite the shifting dynamics with its allies.
Published: Dec 03 2024, 8 pmeznews.inNargis Fakhri, known for her role in 'Rockstar', has reportedly not been in contact with her sister Aliya Fakhri for over two decades, following Aliya's arrest for the alleged murder of her former boyfriend, Edward Jacobs, and his friend, Anastasia Ettienne, in New York. The incident occurred in Queens when Aliya allegedly set fire to a garage while the victims were asleep, leading to their deaths from smoke inhalation and thermal injuries. Aliya has been charged with multiple counts of murder and arson, facing a potential life sentence if convicted. Their mother has defended Aliya, expressing disbelief at the allegations and describing her as caring. Witnesses have suggested that Aliya and Jacobs had a tumultuous relationship, with claims of prior threats made by Aliya. She remains in police custody and is scheduled to appear in court on December 9.
Published: Dec 03 2024, 8 pmeznews.inNEW DELHI: A shocking development in the investigation of the recent violence in Sambhal, Uttar Pradesh, has emerged, with police revealing the discovery of cartridge cases manufactured in Pakistan. Forensic officials found a misfired 9 mm shell and another shell marked with "PAKISTAN ORDNANCE FACTORY" at the scene, alongside additional shells from 12 and 32 bore guns. This revelation is poised to significantly impact the three-member judicial panel led by retired Allahabad High Court judge Justice Devendra Kumar Arora, which is examining whether the violence was spontaneous or premeditated. The panel, established by the Yogi Adityanath government, is also investigating the circumstances surrounding the unrest, which resulted in four fatalities and numerous injuries during clashes over a court-ordered survey of the Shahi Jama Masjid. The survey was prompted by claims of a Hindu temple's presence beneath the mosque, reminiscent of disputes in Varanasi and Mathura.
Published: Dec 03 2024, 7 pmeznews.inIn a bizarre turn of events in Amethi, Uttar Pradesh, a groom, Sohanlal Yadav, was taken hostage by the bride's family after he went missing days before their wedding. The bride's family, alleging that Yadav is involved with another woman, called off the wedding and demanded reimbursement for the wedding preparations. Despite Yadav's insistence that he had not disappeared but was in Lucknow due to a phone issue, police intervention led him to arrive at the bride's home around 2:30 am, where he was informed the wedding was canceled. The bride's father, Lal Bahadur Yadav, expressed frustration over the groom's last-minute disappearance and subsequent demands for compensation. Police have attempted to mediate, but the bride's family remains resolute in their refusal to proceed with the marriage, insisting that Yadav must pay for the incurred expenses before he can leave.
Published: Dec 03 2024, 6 pmeznews.inTamil Nadu is currently experiencing heavy rainfall following the impact of Cyclone Fengal, which has caused significant destruction across the state. CCTV footage from Tiruvannamalai shows a devastating mudslide, where a torrent of mud, water, and debris swept down a stairway and into homes, tragically leading to the death of a family of seven when a boulder struck their house. The cyclone, which weakened recently, has resulted in at least ten fatalities due to rain-related incidents in Tamil Nadu and Puducherry, with extensive damage reported in 14 districts, including destroyed roads and disrupted electricity lines. In response, Chief Minister MK Stalin has convened a cabinet meeting to assess the situation and announced a compensation of Rs 5 lakh for the bereaved family, along with Rs 2,000 in relief for each affected household in Villupuram, Cuddalore, and Kallakurichi districts.
Published: Dec 03 2024, 6 pmeznews.inTamil Nadu Minister Thiru Ponmudi faced public outrage during a visit to a flood-hit area, where he was pelted with mud, reflecting widespread frustration over the government's response to Cyclone Fengal. BJP leader K. Annamalai shared a video of the incident on X, criticizing the Chief Minister and Deputy Chief Minister for focusing on photo opportunities in Chennai while neglecting the severe conditions in other regions. The cyclone has claimed at least 10 lives and affected over 15 districts. In response to the disaster, Prime Minister Narendra Modi has assured Chief Minister MK Stalin of support, while Stalin announced compensation of Rs 5 lakh for families of the deceased and Rs 2,000 relief for affected households in Villupuram, Cuddalore, and Kallakurichi. The ruling DMK has yet to comment on the mud-throwing incident.
Published: Dec 03 2024, 6 pmeznews.inMohan Bhagwat, chief of the Rashtriya Swayamsevak Sangh (RSS), has recently advocated for couples in India to have at least three children, citing concerns over the country's declining fertility rate, which he claims could lead to societal extinction. This statement aligns with similar calls from Tamil Nadu's Chief Minister M.K. Stalin, who encouraged newlyweds to aim for 16 children, viewing procreation as a political duty. In Andhra Pradesh, Chief Minister Chandrababu Naidu plans to incentivise larger families by allowing only those with more than two children to contest local elections. The RSS's pronatalist stance appears motivated by fears of a demographic shift, particularly regarding the growing Muslim population, which they believe could threaten the Hindu majority. Critics argue that such policies overlook women's rights and aspirations, raising questions about the implications of a shift towards encouraging higher birth rates in a rapidly modernising society.
Published: Dec 03 2024, 5 pmeznews.inChief Justice Sanjiv Khanna has stepped aside from hearing petitions challenging a law that alters the appointment process for India's Chief Election Commissioner and Election Commissioners. This law, passed by the government during a parliamentary session with limited opposition, replaces the Chief Justice with a union minister in the appointment panel, which previously included the Prime Minister, the Leader of the Opposition, and the Chief Justice. The Supreme Court, in a past ruling, aimed to protect the Election Commission from legislative interference. The new law faced opposition from political figures and civil society groups, who argue it undermines institutional integrity. The Chief Justice's recusal comes after he had participated in initial hearings on the matter. The case will now be taken up by a different bench starting January 6, amid ongoing scrutiny of the government's actions regarding election oversight.
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