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Voting for the 2024 Maharashtra Assembly election concluded on Wednesday, igniting a fierce debate between the ruling Mahayuti coalition and the opposition Maha Vikas Aghadi (MVA) regarding exit poll predictions. Five of nine exit polls suggest a Mahayuti victory, while three indicate a hung assembly, and only one predicts a significant MVA win. Critics caution against placing too much faith in exit polls, recalling mispredictions in Haryana and Jammu and Kashmir. Outgoing Deputy Chief Minister Devendra Fadnavis expressed optimism, citing an increased voter turnout of approximately 65%, while MVA leaders, including Sanjay Raut and Nana Patole, dismissed the polls as fraudulent and asserted their coalition's chances of success. The Maharashtra Assembly comprises 288 seats, with the majority threshold set at 145; exit polls average the Mahayuti’s seats at 150 and the MVA's at 125, though one poll suggests the MVA could secure 150 seats. 
Published: Nov 21 2024, 1 pmeznews.inA political clash has erupted in India following allegations from the US Department of Justice against the Adani Group, which the conglomerate has dismissed as baseless. Congress leader Rahul Gandhi accused the Narendra Modi government of collusion with Adani, while BJP leaders countered that the allegations involve four opposition-ruled states and questioned Congress's integrity. The Adani Group stated it would consider legal action, emphasizing its commitment to governance and transparency. BJP's Amit Malviya highlighted that the US documents merely present allegations, asserting that the charges stem from a collaboration between Adani and US firm Azure Power to supply power to Indian state distribution companies. He criticized Congress for its past governance in the implicated states and suggested that the timing of the allegations raises suspicions. As the Winter session of Parliament approaches, the opposition plans to address the issue, asserting a united front against the government.
Published: Nov 21 2024, 4 pmeznews.inThe Rajasthan government is taking urgent measures to protect Bikaner House, a heritage property in Delhi, following a court's attachment order in favor of Enviro Infra Engineers Pvt Ltd, which sought recovery of Rs 50 crore. Built in 1929 by the Bikaner royals, Bikaner House features a spacious ballroom currently serving as an art gallery and is home to popular restaurants. The state government has appointed Additional Advocate General Shiv Mangal Sharma to secure a stay on the order, citing previous negligence in addressing the matter. The court's decision stemmed from the debtor's failure to provide an affidavit of assets despite multiple reminders. Acknowledging the property's cultural significance, the Rajasthan government has pledged to take immediate corrective actions and may escalate the case to higher courts to safeguard this important public asset.
Published: Nov 21 2024, 3 pmeznews.inNEW DELHI: The Aam Aadmi Party (AAP) has announced 11 candidates for the upcoming Delhi Assembly elections, expected early next year. Notable candidates include Brahma Singh Tanwar from Chhatarpur and Anil Jha from Kiradi, both former BJP legislators who recently joined AAP. Other candidates are Deepak Singhla for Vishwas Nagar, Sarita Singh for Rohtas Nagar, BB Tyagi for Laxmi Nagar, and Ram Singh Netaji for Badarpur. Zubair Chaudhary, son of a former Congress MLA, will contest in Seelampur, while Veer Singh Dhingan, a three-time MLA from Seemapuri, also joins AAP from Congress. Gaurav Sharma and Manoj Tyagi complete the list from Ghonda and Karawal Nagar, respectively, with Somesh Shaukeen representing Matiala. The list includes six former members of rival parties, and AAP has denied candidacies to three sitting MLAs, leaving their future in the party uncertain.
Published: Nov 21 2024, 2 pmeznews.inThe Adani Group has firmly rejected allegations made by the US Department of Justice and the US Securities and Exchange Commission, asserting that the claims against its directors are "baseless and denied." In a statement, the group emphasized its commitment to high standards of governance and transparency, stating that the allegations should be viewed as mere accusations, as the defendants are presumed innocent until proven guilty. The Adani Group plans to explore legal options in response to the allegations. Meanwhile, BJP leaders have criticized the US actions, with Amit Malviya calling it an abuse of jurisdiction and suggesting that Indian courts could similarly accuse American firms of misconduct. Sambit Patra added that the company will defend itself against the allegations, maintaining that due legal processes should be respected. The Adani Group reassured stakeholders of its compliance with all laws across its operations.
Published: Nov 21 2024, 2 pmeznews.inThe rise of artificial intelligence (AI) has reshaped the tech landscape, leaving established brands like Intel struggling to adapt. Once a dominant force in microchips, Intel now faces stiff competition from Nvidia, which has capitalized on the AI boom. While Intel’s revenues grew marginally to $55.11 billion, Nvidia saw a staggering 126% increase, reaching $60.9 billion. The contrast in market capitalization is stark, with Nvidia valued at $3.61 trillion—35 times Intel's $104.4 billion. This shift mirrors historical trends where companies like IBM and Microsoft successfully reinvented themselves, unlike Intel, which has failed to embrace the transformative changes brought by AI. As the tech industry evolves, Intel's inability to innovate may lead it to join the ranks of defunct brands like Remington and Olivetti, underscoring the necessity for businesses to adapt or risk obsolescence in the fast-changing digital ecosystem.
Published: Nov 21 2024, 2 pmeznews.inGoldman 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.inDelhi's Khan Market has been ranked as the 22nd most expensive high street globally, maintaining its status as India's priciest retail location with annual rents of $229 per square foot (approximately Rs 19,330), reflecting a 7% year-on-year growth, according to a Cushman & Wakefield report. The report highlights that Delhi-NCR hosts the top three most expensive retail streets in India, including Connaught Place and Galleria Market, with rents of $158 and $156 per square foot, respectively. The limited availability of retail space in Khan Market intensifies competition, leading to rising rental values. As malls face supply constraints, main streets in India are thriving, achieving an 11% increase in leasing activity year-to-date. Milan's Via Montenapoleone has surpassed New York's Upper 5th Avenue to become the world's most expensive retail destination, with global rental growth averaging 4.4%.
Published: Nov 21 2024, 1 pmeznews.inIn New Delhi, police detained BJP Delhi unit chief Virendra Sachdeva and several party supporters during a protest outside Aam Aadmi Party (AAP) leader Arvind Kejriwal's residence, sparked by allegations that Kejriwal's administration spent Rs 45 crore on renovations during his tenure as Chief Minister. The demonstration, which drew hundreds of BJP supporters, criticized the AAP's spending amid concerns over local governance ahead of the 2025 Delhi Assembly elections. Former AAP minister Kailash Gahlot, who recently switched to the BJP, highlighted the controversy, suggesting it undermined AAP's commitment to its core values. He voiced confidence that the BJP would win the upcoming elections, citing public dissatisfaction with AAP's governance. The AAP defended the renovations as necessary improvements to an outdated residence, asserting that they were recommended by the Public Works Department.
Published: Nov 21 2024, 12 pmeznews.inThe Central Bureau of Investigation (CBI) has summoned Gaurav Mehta, an employee of Sarathi Associates, as part of its investigation into a multi-crore bitcoin scam linked to Maharashtra politicians Supriya Sule and Nana Patole. The summons follows a search by the Enforcement Directorate (ED) at Mehta's property in Raipur, Chhattisgarh. The CBI has filed a case against the late Amit Bhardwaj and his brother Ajay Bhardwaj for allegedly orchestrating a Ponzi scheme involving bitcoins worth Rs 6,600 crore in 2017. The political implications emerged during the Maharashtra assembly election campaign when retired IPS officer Ravindranath Patil accused Sule and Patole of involvement in the fraud, claiming the funds were used to influence election outcomes. Sule has vehemently denied the allegations, challenging the BJP to a public debate on the matter, which she describes as mere conjecture and innuendo.
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