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April 19, 2022 I Tuesday YEAR : 8 I ISSUE NO.: 95 PAGES : 4 I PRICE : ₹.1/Annual Subscription : ₹.300/Editor: Kapilkumar M. Hirpara www.sunvillasamachar.com AHMEDABAD EDITION
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SUNVILLA SAMACHAR
Can you guess the amount earned by Samantha Ruth Prabhu as her first pay cheque?
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LEADING ENGLISH DAILY MORNING NEWSPAPER, AHMEDABAD
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BJP leader criticises Mann over meeting with UK MP Dhesi Page : 2
Danish Open: R Madhavan’s son Vedaant adds a shade of gold Page : 3
Indian Pharma - Global Health Care Celebrates Idma’s Diamond Jubilee Page : 4
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Rising Debts Could Slow Global Economies’ Recovery: IMF Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the IMF warned Monday Agency News: New Delhi Debt accumulated by businesses and individuals worldwide could slow economic recoveries from the pandemic crisis, the IMF warned Monday. Governments took exceptional measures to support their economies as Covid-19 spread two years ago, including rolling out debt repayment suspensions or offering large-scale loans. But these programs resulted in higher debt levels for some sectors, including those most disrupted by the virus, like tourism and restaurants, as well as low income households,
Divya Khosla Kumar seen at the airport.
Covid cases in India see 90% jump in a day with 2,183 fresh infections India saw a jump of nearly 90 per cent in daily Covid cases - compared to Sunday - as the country registered 2,183 fresh infections, according to the health ministry data. This is the first time in nearly a month that the country has registered more than 2,000 cases in a day (2,075 cases were registered on March 19).The data further shows that 214 deaths were logged in the last 24 hours. It’s not yet clear if the number of deaths were revised as an addition to the backlog data.
Delhi Police files FIR against organisers of yatra in Jahangirpuri for not seeking permission Police said that an argument broke out between those in the yatra and 5-6 men, which escalated into a fight and stone pelting started from both sides. A policeman was also shot at.
the Washington-based crisis lender said.In a chapter of its World Economic Outlook, the IMF said the debt burden could hold growth back in developed countries by 0.9 percent and in emerging markets by 1.3 percent over the next three years.“Financially constrained households and vulnerable firms, which have grown in number and proportion during the COVID-19 pandemic, are expected to cut spending by more, especially in countries where the insolvency framework is inefficient and fiscal space limited,” the lender said. To avoid exacerbating problems, government should “calibrate the pace” of phasing out aid and spending programs “Where the recovery is well underway and balance sheets.
Agency News: New Delhi Two days after communal clashes in Jahangirpuri, the Delhi Police has registered an FIR against organisers of the shoba yatra for not seeking permission.DCP (Northwest) Usha Rangnani said, “We have lodged an FIR under IPC Section 188 (disobedience to order duly promulgated by public servant) against the organisers for carrying out a procession without any permission… One accused person has joined the investigation. Further investigation is in progress. The other two processions, which were carried out in morning and evening on April 16 in Jahangirpuri area, had due permission. Communal clashes broke out in Jahangirpuri
on Saturday. Police said that an argument broke out between those in the yatra and 5-6 men, which escalated into a fight and stone pelting started from both sides. A policeman was also shot at. Delhi Police Commissioner Rakesh Asthana informed 23 people from both the communities have been arrested so far in connection with the Jahangirpuri violence, and refuted claims that attempts were made to hoist saffron flags at a mosque during the Hanuman Jayanti procession. During a media briefing, Asthana asserted that those involved in the violent clashes will not be spared irrespective of class, creed or religion. “No, there was no attempt to hoist any saffron flag at the mosque during the procession,” Asthana said when
Air India cancels 2 Hong Kong flights, cites limited demand, new restrictions Three passengers on Air India’s AI316 DelhiKolkata-Hong Kong flight reportedly tested positive for Covid-19 upon arrival on April 16 Agency News: New Delhi Air India will not be flying to Hong Kong till April 24, a move that has come after
three passengers on one of its flights reportedly tested positive for Covid-19 upon arrival on Saturday.“Due to restrictions imposed by the Hong Kong authorities and limited demand on the sector, our flights to Hong Kong and back on the 19th and
23rd of April stand cancelled,” Air India said in a post on Twitter.“Three passengers on Air India’s AI316 Delhi-KolkataHong Kong flight on April 16 tested positive for Covid-19 post arrival,” an airline official said. According to the latest rule by
the Hong Kong government, passengers from India can enter the country only if they have a Covid-19 negative test report that is done 48 hours prior to the journey. “All international passengers are required to take a post-flight Covid-19 test at the airport premises in Hong Kong,” an official added.Hong Kong recorded 613 new coronavirus cases on Monday, and 20 more deaths. As of Sunday, Hong Kong had confirmed 747 new coronavirus cases. Among the latest infections, 11 were from abroad.
asked if the clashes broke out after attempts were made by some to hoist the flag.Several politicians and social media users had alleged that some people tried to hoist a flag on a local mosque in Jahangirpuri which led to stone-pelting and violence.The investigation into the Saturday clashes has been handed over to the Crime Branch and 14 teams have been formed to take it forward, Asthana said, adding that four forensics teams also visited the spot to gather evidence.
Noting that some people were trying to spread rumours on social media to keep the situation tense, the Delhi Police chief appealed to people to ignore them. Those trying to disrupt the atmosphere through social media will also not be spared, he said.“We are analysing the social media and if required those spreading false news, misinformation or tweeting any rumour with an intention to disturb the environment will not be spared and legal action will be taken against them,” he said.
Lieutenant General Manoj Pande to take over as next army chief on May 1 The government has gone by seniority in naming Pande the next chief as he is currently the seniormost officer in the army after Naravane Agency News: New Delhi Lieutenant General Manoj Pande will take over as the next army chief on May 1 on the retirement of General Manoj Mukund Naravane, officials familiar with the matter said on Monday. Pande, who is currently serving as the vice chief, will be the first officer from the Corps of Engineers to hold the top
position. The government has gone by seniority in naming Pande the next chief as he is currently the senior-most officer in the army after Naravane. In the past, the government has selected new service chiefs from a panel of top officers and overlooked seniority. Before assuming the charge of vice chief on February 1, Pande was heading the Kolkata-based HQs Eastern Command An alumnus of the National.
The probe will cover all angles through the analysis of CCTV footage and digital inputs, he said.Recalling the incident on Saturday, Asthana said around 4.15 pm, a procession had started on the occasion of Hanuman Jayanti.The routes taken were traditional and around 6:15 pm, those in front of the procession moved ahead. However, those who were following them stopped after getting into a heated argument following which stones were pelted, Asthan said.
J&K: 1 railway police personnel killed, another injured in terror attack Agency News: New Delhi A railway police personnel was killed and another injured in a terror attack in Jammu and Kashmir’s Pulwama district on Monday. According to police officials, terrorists fired upon the Railway Protection Force personnel near a tea stall in Kakapora area of Pulwama. Head Constable Surinder Singh and ASI Devraj sustained bullet injuries and were shifted to the hospital. One of the personnel succumbed to injuries in the hospital. The entire area has been cordoned off and search operations are underway. Over the past three weeks, militants have stepped up attacks on security forces and civilians in the Valley. This was the ninth attack this month. On April 15, a village sarpanch Manzoor Ahmed was shot dead by terrorists in Baramulla district of Jammu and Kashmir. Bangroo is the second victim of targeted killing of civilians.
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SUNVILLA SAMACHAR
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19.04.2022, Tuesday
Yati Narsinghanand, Sadhvi Rithambara ask Hindus to ‘give birth to more kids’
Editorial
SUNVILLA SAMACHAR
Parking Funds In Foreign Banks, Treasuries Now Look Less Safe The international financial system governed by western powers no longer offers safety toforeign currency deposits in their chests from other parts of the world. Even foreign privatedeposits and investments in assets are being frozen. The latest financial sanction imposedon Russia and its oligarchs freezing their accounts may appear to be the severest, but theUnited States has always been happy to pull financial trigger whenever its strategic interestis challenged by any government in the world. This time, the US, European Union and Japanbarred Russia’s central bank from tapping into billions of foreign reserves Moscow had beensaving up in their banks. Last year, the US impounded the Afghanistan central bank’s foreignreserves in order to prevent the Taliban from accessing the funds after it seized the power inthe country. Earlier, the US froze foreign exchange reserves of Iran, Syria and Venezuela. Infact, US Dollar assets have become very political.The frequent use of financial fusillades by the US is also gradually eroding the hithertoenviable status of popular international currencies such as the US$, Euro, British Pound andJapanese Yen. The 2014 sanction on the Russian Republic by the US and its allies for thecountry’s role in supporting dissection of Crimea from Ukraine seemed to have made Russiapartially smart. Before the recent Ukraine attack and the imposition of financial sanctions bythe West, Russia had parked substantial amount of its reserves with banks in China. ThePeople Bank of China had a multi-billion dollar currency swap with Russias central bank,allowing the two nations to provide liquidity to businesses so that they can continue trading.China has also signed Russian banks onto its homegrown payments settlement system,seen as an alternative to the SWIFT messaging system, now banned for Russia.The Society for Worldwide Interbank Financial Telecommunications (SWIFT) works as acooperative to provide safe, secure and fast financial transactions for its members. Thepayment network allows individuals and businesses take electronic or card payments even ifthe customer or vendor uses a different bank than the payee. SWIFT assigns each memberinstitution a unique ID code that identifies not only the bank name but the country, city, andbranch. The US and its Western allies, including Britain, have come together to prevent theRussian central bank from using reserves parked there after cutting selected banks from theSWIFT international money transfer system.Thanks to the Russian central bank’s smart decision to hold 13 percent of its reserves inChinese Yuan, the US-backed foreign reserves freeze has not cut off Russia from access toits foreign currency entirely. China has rejected the Western financial sanction againstRussia on legal grounds. Russia’s central bank has been stockpiling foreign reserves eversince Russia last invaded Ukraine in 2014. Since then, Russia's holdings of foreign currencyand gold have almost doubled, ballooning to $630 billion today from $368 billion over sevenyears ago. The US has stopped the Russian government from paying its sovereign debt ofaround $600 million from reserves held at American banks, in a move meant to eat into Moscow holdings of dollars. The value of US Treasury securities held by residents ofRussia was approximately US$3.9 billion till December 2021.Almost all major countries in the world maintain their dollar stocks with US banks, makingdollar the world’s most sought after currency. But, they are now rethinking on the practicalityof the practice after the most punishable Western financial sanction on Russia. According toreports, China had steadily accumulated US Treasury securities over the last few decades.As of October 2021, the second largest economy owned $1065 billion, or about 3.68 percentof the $28.9-trillion US national debt, which is more than any other foreign country exceptJapan. However, China’s total foreign currency reserve assets, including Hong Kong’s, isworth $3,700 billion, the world’s largest, as against Japan’s $1,260 billion. Interestingly, theUSA’s own foreign currency reserves were valued at only $252.2 billion as of February 2022and they are held mostly in Euros and Yen. The UK held just around $135.4 billion in foreignreserves as of January 2022.The US Treasury Department data showed that India held securities worth $220.2 billion atthe end of June last year. It was the 11th largest holder of US securities. India has beensteadily hiking its exposure to the US treasury securities since March, 2021, when it was at$200 billion. In April, the holding rose to $208.7 billion and then to $215.8 billion at the end ofMay. The country’s holding - Kapilkumar M. Hirpara was at $182.7 billion.
Editor
SC cancels Lakhimpur Kheri accused Ashish Mishra’s bail
Agency News: New Delhi In a major development in the Lakhimpur Kheri violence case, the Supreme Court on Monday cancelled the bail of the key accused, Ashish Mishra, and directed him to surrender within a week.Ashish Mishra, son of Union Minister of State for Home Ajay Mishra Teni, was accused of murder after eight persons, including four farmers, were killed in Lakhimpur Kheri in October last year.He was arrested but later released on bail in February this year by the Allahabad High Court. The bail had been challenged in the SC by the families of the
deceased farmers.In its order on Monday, the SC said that HC’s order was based on “irrelevant observation”. It also noted that the HC had overlooked “relevant considerations”.“We hold that the victims have been denied the chance of effective hearing. The denial of victims to be heard and the tearing hurry shown by the High Court merits the setting aside of the bail order,” the Apex Court ruled.The case had garnered lot of political attention, with the Opposition demanding the resignation of Minister Ajay Mishra over the Lakhimpur Kheri case. It even accused the government of shielding the accused.
Agency News: Mumbai
Jasmin Bhasin looks resplendent in the ornate yellow and white lehenga.
In yet another controversial statement, Dasna temple priest Yati Narsinghanand, who is out on bail in the Haridwar hate speech case, asked Hindus to give birth to more children to avoid India becoming an Islamic country, while Akhil Bhartiya Sant Parishad’s Himachal Pradesh in-charge Yati Satyadevanand Saraswati claimed that Muslims are increasing their population by giving birth to many children in a planned way, according to Narsinghanand had earlier this month in Mathura urged Hindus to produce more children to prevent the country from becoming “Hindu-less” in the coming decades. Narsinghanand and Saraswati made the statements on the first day of the organisation’s three-day ‘Dharam Sansad’ at Mubarakpur in Himachal Pradesh’s UnaIn Uttar Pradesh, Hindutva leader Sadhvi Rithambara has also urged every Hindu couple to produce four children and dedicate two of them to the nation, and said India will soon become a “Hindu Rashtra”.Referring to Saturday’s communal violence in Delhi’s Jahangirpuri, she said.
BJP leader criticises Mann over meeting with UK MP Dhesi UK MP Tanmanjeet Singh Dhesi a Labour Party MP, met Mann along with AAP Rajya Sabha member Raghav Chadha last week. Agency News:New Delhi BJP leader and former Army chief J J Singh on Sunday lashed out at Punjab Chief Minister Bhagwant Mann over his meeting with UK MP Tanmanjeet Singh Dhesi and said the AAP should clarify if it endorses the “pro-separatist and anti-India” views of the British
lawmaker. Dhesi, a Labour Party MP, met Mann along with AAP Rajya Sabha member Raghav Chadha last week.After the meeting, Dhesi tweeted, “Grateful to Punjab Chief Minister @BhagwantMann for warmth with which he received me at his Chandigarh residence. We…discussed at length NRI hopes, anxieties and desire
to see Punjab progress. He assured me his best to address these issues.” Commenting on the meeting, Singh said, “It is very unfortunate that AAP government in Punjab…is going the extra mile to welcome Labour
Sunvilla News: Ahmedabad
Khushi Shah as the fearless Nayika Devi and Chunky Panday as the devilish Muhammad Ghori. The trailer unveils every facet of the queen’s life. Khushi Shah as Nayika Devi is killing it in the entire trailer. Each scene and every dialogue in the film will send shivers
Party MP Dhesi whose views are pro-separatist and anti-India. AAP owes an clarification to the country whether it supports his views on Kashmir and other matters which are against our country.”
down your spine. While both the actors look completely seeped into their characters, the ruthless war scenes dominate the trailer. Goosebumps! is the single word that best describes the entire trailer. With the release of the trailer, producer Umesh Sharma says, “Now is the time to unearth the
glorious story of the dignified Nayika Devi who was a queen, mother, widow and India’s first female warrior of the 12th century. We are lucky to be bathed in love and support. Hope to see you in the cinemas!” The adept director, Nitin G, says, “This isn’t just any movie. This is the story of the fearlessness of Nayika Devi and every member of the cast has given their best to recreate the history. We are thrilled that people are enjoying the trailer and we hope that the film receives an even better response.” “This film means everything to me. I have poured my heart out.
Nadda targets Congress: ‘Speaks against terror, but releases terrorists’ “I want to speak a bit on what I have understood of the speech in Kannada by the Chief Minister. You spoke about the PFI and how there is an effort to create disturbances by this group in society,” Nadda said.
Agency News: New Delhi Attacking the Congress in the wake of recent incidents of communal violence, BJP national president J P Nadda
Agency News: Mumbai Several states are spending high amounts on populist schemes like farm loan waivers, and with the GST compensation from the Centre ending in June, they need to re-prioritise expenditure in accordance with the revenue receipts, State Bank of India (SBI) has said in a report said on Monday. In some instances, the Goods and Services Tax (GST) revenue from the Centre forms over a fifth of a state’s tax revenue, while they have been found to be spending on “economically unsustainable” freebies, the report by Soumya
indicated on Sunday at a public meeting in the Vijayanagara region of Karnataka that his party will be targeting the main opposition party in the run-up to the 2023 polls on the
issue of dropping of cases in the state against activists of the radical Popular Front of India (PFI). Speaking at a public rally following a meeting of the BJP state executive, Nadda drew a reference to Karnataka Chief Minister Basavaraj Bommai’s speech earlier, when he accused the Congress and its former chief minister Siddaramaiah of dropping cases against PFI activists in the past. Nadda said the Congress speaks against terrorism but releases terrorists. I want to speak a bit on what I have understood of the speech in Kannada by the Chief Minister..
Kanti Ghosh, SBI’s chief economic adviser, said. Telangana has committed 35 per cent of revenue receipts to finance populist schemes, while Rajasthan, Chhattisgarh, Andhra Pradesh, Bihar, Jharkhand, West Bengal and Kerala have all committed to spend 5-19 per cent of their revenue receipts on such schemes, the report said, adding that in terms of percentage of a state’s own tax revenue, the figure is as much as 63 per cent in the case of some states. “Clearly, states seem to be currently living beyond their means and it is imperative.
“RBI Will Have To Intervene Ahead Of Time,” Says Economist Ved Jain Agency News:New Delhi The rise in wholesale inflation is quite alarming,” Ved Jain, economist and former president of the Indian Chartered Accountants of India, and added that “in flation has become a big challenge for the common man.”Wholesale price inflation rose sharply to a four-month high of 14.55 per cent from a year ago, marking the 12th straight
month of double-digit prints. The Reserve Bank of India may be forced to act faster on policy tightening after March inflation prints showed the fallout of the Ukraine war pushing energy rates higher was expected to add to the already spiralling price pressures. “(The) RBI has to intervene to control inflation. According to me, the RBI will have to intervene ahead of time,” said Mr Jain “To control inflation, the RBI.
Elon Musk Tweets ‘Love Me Tender’ Days After Twitter Takeover Offer Agency News:New Delhi
Historical drama Nayika Devi: Gujarati Film The Warrior Queen trailer is out “Nayika Devi!” The chapter of Indian history that got overlooked under the mound of a million other historical events and emperors. But now, thanks to the upcoming film Nayika Devi: The Warrior Queen, we get to see her courageous journey. After a long wait, A Tree Entertainment drops the trailer of Nayika Devi: The Warrior Queen and takes over the internet by storm. This most-awaited Gujarati periodical drama opens in the 12th century. It features
States Need To Re-Prioritise Expenditure, Says SBI Report
Elon Musk tweeted “Love Me Tender”, an Elvis Presley song, a day after Twitter Inc adopted a “poison pill” to protect itself from the billionaire’s $43 billion cash offer to buy the social media companyAfter Musk’s TED talk on Thursday, he hinted at the possibility of a hostile bid in which he would bypass Twitter’s board and put the offer directly to its shareholders, tweeting: “It would be utterly
indefensible not to put this offer to a shareholder vote”.In another tweet over the weekend, Musk, a self-described “free speech absolutist” who has been critical of Twitter and its policies, replied to a post of his from 2017 where he had asked “How much is it (Twitter)?” with an upside down smiley.Musk, who is also the CEO of electricvehicle maker Tesla Inc, has amassed a 9.1% stake in Twitter and is the social media firm’s secondbiggest shareholder.
3 Options Available To Twitter Board After Elon Musk’s Takeover Offer Agency News: New Delhi Many investors, analysts and investment bankers expect Twitter Inc’s board of directors to reject Elon Musk’s $43 billion acquisition offer in the coming days as inadequate, but how would the social media company then proceed? Twitter shares dropped on Thursday after Musk unveiled his offer, as the market deemed it too low and too thin on financing details. Twitter’s board is currently evaluating the bid and many investors and analysts say that a rejection is likely, barring any changes to the offer from Musk.Here
are some options available to Twitter’s board should it decide to turn down Musk’s offer: Buy more time Twitter’s board may decide not to engage in sale talks with Musk and instead give more time to its new Chief Executive Parag Agrawal to meet the company’s operational targets. The board adopted a one-year poison pill last week that prevents Musk from owning more than 15% of the company without its consent, winning itself some time. It also faces no short-term challenge because the deadline for investors to put forward their own board nominees at its annual shareholder meeting.
Cash-Strapped Pakistan Cuts Power To Households On Fuel Shortage Agency News: Mumbai Cash-Strapped Pakistan Cuts Power To Households On Fuel ShortageThe electricity crunch is complicating the already tough economic challenge for new PM Shehbaz Sharif. Pakistan is cutting electricity to households and industry as the cash-strapped country can no longer afford to buy coal or natural gas from overseas to fuel its power plants. The South Asian nation is struggling to procure fuel from the spot market after
prices of liquefied natural gas and coal surged to records last month as the war in Ukraine exacerbated supply shortfalls. Pakistan’s energy costs more than doubled to $15 billion in nine months ended February from a year earlier, and it isn’t able to spend more on additional shipments.About 3,500 megawatts worth of power capacity had been shut due to the fuel shortages as of April 13, according to a Twitter post by Miftah Ismail, who has been selected as finance minister by new Prime Minister.
SUNVILLA SAMACHAR
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19.04.2022, Tuesday
SPORTS - BUSINESS
Danish Open: R Madhavan’s son Vedaant adds a shade of gold Vedaant, son of Indian actor R Madhavan, has shown immense improvement. He has bettered his personal best times in all three events he has participated in in the ongoing meet.
Agency News: New Delhi Continuing his splendid run, fast-rising Indian swimmer Vedaant Madhavan added a second medal to his kitty, a gold in the men’s 800m freestyle at the Danish Open in Copenhagen. The 16-year-old
Anirban Lahiri finishes disappointing T-66 at RBC Heritage Agency News: New Delhi
bettered his personal best time by a whopping 11:48 to stop the clock at 8:17.28, edging past local swimmer Alexander L Bjorn by 0.10 to stand atop the podium on Sunday night. While Vedaant’s performance was good enough to fetch him a gold at the meet, it is a long way from international standards. USA’s Robert Finke had won the gold at the Tokyo Olympics in the event last year
with a timing of 7:41.87, while the world record for the event stands at 7:32.12. However, Vedaant, son of Indian actor R Madhavan, has shown immense improvement. He has bettered his personal best times in all three events he has participated in in the ongoing meet. He had won the silver medal in the 1500m freestyle event on Friday before bettering his 200m freestyle time.
Indian golfer Anirban Lahiri produced a disappointing performance in the final round to finish T-66 in the RBC Heritage.Lahiri ended the week with 3-over 74.For Lahiri, who had 69s on the first and moving days, the second and fourth round cards of 73 and 74 let him down.He had some good performances at the PLAYERS, where he was runner-up, and at the Texas Open, where he was T-13Jordan Spieth came out with a superb bunker shot from 56-feet to within inches to beat Patrick Cantlay with the tapin par putt on the first hole of a playoff.Spieth, who played four groups ahead of Cantlay, birdied Harbour Town’s par-4.
IPL 2022: Captaincy comes naturally to Shreyas Iyer, says Ravi Shastri Agency News: New Delhi
Former India head coach Ravi Shastri feels captaincy comes naturally to Shreyas Iyer, who has impressed in his first season as Kolkata Knight Riders captain.Shreyas was given the responsibility of leading KKR ahead of the IPL 2022 and the Mumbaikar has done a decent job so far, with his team winning three and losing as many matches from six outings.Shastri claims Shreyas will only get better and better as the tournament progresses.Speaking on Star
Sports, Shastri said, “Captaincy comes naturally to Shreyas. Look at his aggressive captaincy, you don’t feel like he’s leading
KKR for the first time. Looks like he’s been captaining them for the last 3 to 4 seasons and it is visible through his clarity of
thoughts.“His mindset is clear about what brand of cricket he needs to play as a batter. At the same time, he’s aware of what he as a captain needs to do to take his team to the playoffs and win the title. “I’ve liked the way he’s spoken during the pre and post-match conferences and that shows he’s clear with his plans. I am convinced he’ll go a long way.”Former West Indies cricketer Ian Bishop has backed Shreyas to come back stronger after back-to-back defeats in the last two games because he possesses a good brain.
Sensex falls over 1,100 points in early deals, Nifty dips below 17,200-mark At 9:53 am, the S&P BSE Sensex was down 1,116.27 points (1.91 per cent) at 57,222.66 while the Nifty 50 was trading at 17,184.25, down 291.40 points (1.67 per cent). Agency News: New Delhi
The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell nearly 2 per cent lower in the early trade on Monday weighed by weakness in IT stocks after Infosys crashed nearly 9 per cent on missing March-quarter profit estimates. At 9:53 am, the S&P BSE Sensex was down
1,116.27 points (1.91 per cent) at 57,222.66 while the Nifty 50 was trading at 17,184.25, down 291.40 points (1.67 per cent). Both the indices had opened over 1.5 per cent earlier in the day and slipped around 2 per cent in the first few minutes of the trade. On the Sensex pack, Infosys, Tech Mahindra, HDFC twins – HDFC and HDFC Bank, Wipro and TCS were the top
laggards in the early trade. On the other hand, NTPC, Tata Steel, M&M, Maruti Suzuki and ITC were the gainers. Shares of IT-major Infosys, the country’s second-largest software services provider slumped as much as 8.96 per cent to hit a low of Rs
1592.05 on the BSE. It was the top laggard in both Sensex and Nifty during the early trade. On Wednesday, after the market hours, the company announced its March quarter (Q4FY22) results and missed estimates for headline.
HDFC Bank shares decline ED provisionally attaches assets worth Rs 757.77 crore nearly 4% Agency News: New Delhi Shares of HDFC Bank on Monday fell nearly 4 per cent even after the leading private sector lender reported a 23 per cent jump in standalone net profit for the March quarter. The stock declined 3.63 per cent to Rs 1,411.65 on the BSE. On the NSE, it went lower by 3.66 per cent to Rs 1,411.30. “Despite sector-leading credit growth (~21 per cent y-o-y), HDFC Bank reported a slight miss on PAT at Rs 100 billion due to continued weak core profitability (up 10 per cent y-o-y), which was dragged by weak margins/ fees and additional contingent provisions of Rs 10 billion,” Anand Dama, Senior Research
Analyst at Emkay Global Financial Services, said. On Saturday, HDFC Bank on posted a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank’s net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. Total income of the bank on a standalone basis rose by over 8 per cent to Rs 41,085.78 crore in the JanuaryMarch period of 2021-22 as against Rs 38,017.50 crore in the same quarter of 2020-21. On the asset quality front, the bank’s gross non-performing assets were at 1.17 per cent.
belonging to Amway India Agency News: New Delhi The Enforcement Directorate (ED) on Monday said that has provisionally attached assets worth Rs 757.77 crore belonging to Amway India Enterprises Pvt Ltd. The investigating agency said that the attached properties include land and factory building of Amway at Dindigul District, Tamil Nadu, plant and machineries, vehicles, bank accounts and fixed deposits. ED had provisionally attached immovable and movable properties worth Rs 411.83 crore and bank balances of Rs 345.94 crore from 36 different accounts belonging to Amway.
The agency said that a moneylaundering investigation by them revealed that Amway is running a pyramid fraud in the guise of direct selling multilevel marketing network. “It is observed that the prices of most of the products offered by the company are exorbitant as compared to the alternative popular products of reputed manufacturers available in the open market,” the ED said. The investigating agency said that the company collected an amount of Rs 27,562 crore from its business operations from 2002-03 to 2021-22 and out of the above, the company has paid a commission of Rs 7,588 crore.
BOLLYWOOD-HOLLYWOOD Lock Upp: Prince Narula loses his cool as Azma Fallah takes a dig at his past with Nora Fatehi; says, ‘I’m married’ Agency News: Mumbai Prince Narula, who entered Lock Upp as a challenger on Sunday, was seen stirring up a major fight during a task in the latest episode of the reality TV show. Amid the fight, contestant Azma Fallah took a dig at his rumoured past relationship with Nora Fatehi, which made him lose his cool In a new promo of Lock Upp released on Monday, Azma Fallah is seen making a comment about Prince Narula’s equation with Nora Fatehi from the time they appeared together on Bigg Boss season 9. She said, “Prince Narula ko Nora Fatehi ne bhav
nahi diya (Prince Narula didn’t get any attention from Nora Fatehi).” Prince Narula got angry at Azma’s comment and warned her not to say anything about his personal life. He said, “Beta agar ab tu dobara personal gayi na, bahut bura hoga agar tu dobara personal gayi (It will be very bad if get personal again). I am a married man. Shut up.” He proceeded to take Azma’s suitcase out in the common area as he said, “Saara saaman uthake bahar phenk dunga tera main (I will throw all of your stuff outside).” Prince Narula is married to Yuvika Chaudhary, whom he met when they both appeared in Bigg Boss season 9 in 2016. Yuvika was evicted from the show soon after Prince.
Can you guess the amount earned by Samantha Ruth Prabhu as her first pay cheque?
Beast BO: Vijay’s film nears ₹200 crore globally, domestic gross hurt by KGF 2
In an Instagram Q&A session, Samantha shared that she charged Rs 500 as a hostess for a conference in a hotel. Agency News: Mumbai The first job and first pay cheque hold a special place in people’s hearts. Actress Samantha Ruth Prabhu recently took a stroll down memory lane and revealed the amount she earned as her first income. In an Instagram Q&A session, Samantha shared that she charged Rs 500 as a hostess for a conference in a hotel.“My first income was Rs 500 for working eight hours as a hostess in a hotel for a day... I was in 10th or 11th standard at that time,” she recalled. Meanwhile, on the work front, Samantha had recently completed 12 years in the film industry.The ‘Ye Maaya Chesave’ actor was last seen in a special dance number for the film, ‘Pushpa: The Rise’. She is awaiting the release of her next film ‘Kaathuvaakula Rendu Kaathal’ with Vijay Sethupathi and Nayanthara, which is slated for a theatrical release on April 28, 2022. She also dropped the first look from her upcoming film ‘Shakuntalam’.The film is directed by Gunasekhar and produced by Neelima Guna and Dil Raju under the banner of Gunna Teamworks and Dil Raju Productions respectively. The film also features Dev Mohan as Dushyanta, the king of the Puru Dynasty.Samantha has also been roped in to play the lead role in ‘Arrangements of Love’ movie.BAFTAwinning Welsh director Philip John will helm the project, which is an adaptation of the bestselling 2004 novel of the same title by Indian author Timeri N. Murari.Last year, she won many hearts with her OTT debut ‘The Family Man’. As per reports, she is now all set to work with Varun Dhawan in Raj Nidimoru and Krishna DK’s new project.
Beast box office day 5 collection: The Vijaystarrer is all set to cross the ₹200 crore mark worldwide even as its domestic earnings have been hit by the massive success of KGF: Chapter 2. Agency News: Mumbai Vijay starrer Tamil actiondrama Beast has reportedly reached close to the ₹200crore club worldwide in five days. Despite opening to mixed reviews and the Hindi version of the movie turning out to be a damp squib, the Nelson Dilip Kumar directorial has
managed to register a solid opening. However, its domestic earnings have been affected by the success of KGF: Chapter 2 When the film breaches the ₹200-crore club, it will be the fifth Vijay-starrer to do so. The actor’s other ₹200-crore grossers include Mersal, Sarkar, Bigil and Master. Beast was dubbed and released in Hindi, Telugu and Malayalam. The Hindi version--titled Raw-turned out to be disappointment, earning just ₹50 lakh from its first day of release and not showing any upward trend after that. As per a report by Deadline, Beast has has earned $26 million (around ₹200 crore) in its extended five-day opening weekend worldwide. Other reports put the film’s global earnings at ₹195 crore. However, much of that earning is due to a solid opening day on Wednesday. Since then, the film has seen a massive drop each day outside Tamil Nadu, largely due to the success of the Kannada film KGF: Chapter 2. Even in Tamil Nadu, KGF 2 has earned more than the local title over the last three days.
SUNVILLA SAMACHAR
19.04.2022, Tuesday
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LOCAL NEWS
Indian Pharma - Global Health Care Celebrates Idma’s Diamond Jubilee
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PM Modi on 3-day tour of Gujarat Sunvilla News: Gandhinagar
Sunvilla News: Ahmedabad
Fatima Sana Shaikh strikes a pose in the gown with a thigh-high slit.
The city of Ahmedabad witnessed an energetic crowd of enthusiastic retail investors at an exclusive event on investing held by Impulse Technical powered by Polytrade Finance on 14 April 2022.Harshubh Shah, who headlined the event, is the founder of Impulse Technical, is a seasoned stock trader, and has led insightful seminars all over India, impacting over three lakh retail investors by educating them on investing and portfolio diversification.Polytrade, a trade finance protocol focused on bridging the gap between borrowers and retail investors with their innovative business model, has joined hands with Impulse Technical on their mission to educate retailers on making wellcalculated investment decisions.
Sunvilla News: Ahmedabad With their popular lending pools, Polytrade has been helping both SMEs and retail investors, for which they have been recognized with an award by the Governor of Maharashtra.The team has kicked off an all-India tour educating investors about the guaranteed return investment in lending pools with Polytrade. After successful interactions in Ahmedabad and Pune, Impulse Technical & Polytrade are now planning to bring this breakthrough collaboration.
An extraordinary platform showcasing accomplishments of Indian PharmaceuticalIndustry, besides exploring the boundless opportunities to be future-ready for AtmaNirbhar Bharat. Aligned with the Hon’ble Prime Minister Mr. Narendra Modi Ji&vision for the PharmaIndustry who says “India’s Pharma Industry is an asset not just for India but for theworld”. IDMA is gearing up for the challenges to fulfil this vision. The Diamond Jubilee (60th year) celebration was held on April 14 – 15, 2022 inMumbai. It had a central theme: Indian
Pharma - Global Health Care. Led by theobjective to promote the capabilities, the Indian Pharma Sector with “Make-in-India’ and‘Innovate-in-India’ proved to be the two pillars. Gracing the occasion, Chief Guest, Dr. Mansukh Mandaviya, Hon’ble Minister of Health Family Welfare and Chemicals & Fertilizers, Government of India said “It is a matterof pride for us that Indian Pharma Industry is getting set for achieving the ambitioustarget of $130 billion by 2030 and is passionately working towards the early delivery onPM’s vision of Atma Nirbhar Bharat. IDMA’s Diamond Jubilee celebrations not only showcased.
Prime Minister Narendra Modi will arrive in Gujarat on Monday on a three-day tour of the state. He will be returning to Delhi on April 20.On Monday, at around 6 pm, PM Modi will visit the Command and Control Centre for Schools in Gandhinagar.On Day 2 of his stay, he will dedicate the Banas Dairy plant in Banaskantha’s Deodar to the public in the morning. In the afternoon, he will lay the foundation stone of WHO Global Centre for Traditional Medicine in Jamnagar.On the final day of his stay in the state, Modi will visit Mahatma Mandir and then inaugurate the Global AYUSH Investment & Innovation Summit at Gandhinagar.At around 3:30 pm, he will attend the Adijati Maha Sammelan in Dahod and inaugurate and lay the foundation stone of various development projects.
Trouble Maker! Prince Narula all set Senco Gold Limited files DRHP to enter Kangana Ranaut’s Lock Upp with SEBI for Rs. 525 crore IPO
Arun Govil witnesses some truly mesmerizing and devotional performances as he appears as a special guest on Swarna Swar Bharat
Kangana Ranaut’s nervewracking reality show ‘Lock Upp’ is living up to its hype with its unique content and numerous twists and turns. And to add more to that, the show will now witness the entry of the biggest troublemaker of his time, Prince Narula.Prince, a winner of several popular reality shows, is all set to add more masala to the show. His entry will certainly alert the contestants. Prince’s aura and attitude will create more trouble among the contenders, and it will
Zee TV surprised everyone when it premiered a first-ofits-kind, devotionalsinging reality show - Swarna Swar Bharat. A humble contribution to theHonorable Prime Ministers noble initiative of Azaadi ka Amrit Mahotsav the75th anniversary of Indian Independence, the show endeavours to celebrate ourrich cultural heritage. In fact, viewers have been having a gala time as the showtakes them back to their roots through a unique blend of insightful and
be interesting to see to what extent the kaidis will go. Recently, when Prince was asked if he was thrilled to enter the show, he said, “I am very excited. Lock Upp is a different show and I am entering the show as a troublemaker and not a contestant. More than anything, this is Ektaa Mam’s show which makes the concept undoubtedly amazing. To add to it, it’s streamed on India’s leading OTT platform MX Player along with ALTBalaji.” He added, “ Lockup is the reality.
Senco Gold Limited, a panIndia jewellery retail player with legacy of over five decades and 2nd most trusted jewellery brand as per the TRA’s Brand Trust Report 2020, has filed a draft red herring prospectus (DRHP) with capital markets regulator, SEBI to raise Rs. 525 crore through an initial public offering (IPO). The Initial Public Offering of Senco Gold comprises of fresh issue of equity shares aggregating up to Rs. 325 crore and an offer for sale of equity shares aggregating up to Rs. 200 crore by selling shareholder - SAIF Partners
India IV Limited. The company proposes to utilise Rs. 240 crore of net proceeds from the fresh issue towards Funding working capital requirements and rest towards General Corporate purposes. Besides, the company may consider a Pre-IPO Placement of equity shares aggregating up to Rs. 65 crore. If the Pre-IPO Placement is undertaken, the amount raised from the Pre-IPO Placement will be reduced from the Fresh Issue. According to a CRISIL Report, Kolkata-headquartered Senco Gold Limited, which operates under.
Morning rituals Soha Ali Khan Shri Dharmendra Pradhan inaugurates India’s First Skill India International swears by for better health With each growing day, it has become important to understand that our top priority is to take care of our loved ones and ourselves. Growing up, my mother ensured inculcating healthy eating habits from a young age and I have naturally grown accustomed to following a healthy lifestyle. I ensured following the same for my daughter, as it would help her in the long run. I follow simple steps, which are easy to imbibe for everyone and make sure to not skip these 3-morning rituals that help me lead a better tomorrow.Daily source of nutrition, Almonds Every morning starts with a handful
of almonds. Since I work out in the morning, I ensure munching on healthy nuts like almonds. Almonds provide energy and have satiating properties that help me keep energized going during the workout. Almonds are known to be a source of 15 nutrients such as vitamin E, magnesium, protein, riboflavin, zinc, etc. Almonds are a rich source of protein, a nutrient that is not only energy-yielding but also known to contribute to the growth and maintenance of muscle mass. Additionally, almonds contain healthy fats and vitamin E (alphatocopherol) which have been shown to impart.
ICICI Prudential Life Insurance announces strong financial results for FY2022 ICICI Prudential Life Insurance has delivered another strong financial performance leadingto a 33% year-on-year growth in the Value of New Business (VNB) for FY2022. The VNBmargin, a measure of profitability, expanded to 28% and absolute VNB stood at ` 21.63billion. This was led by a robust growth of 25% in new business sum assured and 20% inAnnualised Premium Equivalent for the same period. During FY2022, Annuity and protection new business premiums grew by 29% and 35%year-onyear respectively. Given that both these segments are significantly underpenetrated, they offer tremendous opportunity for growth. New Business Sum Assured of the Company grew to ` 7,731.46 billion for FY2022 makingICICI Prudential Life Insurance the leader in the private sector. A combination of factorssuch as innovative
products coupled with deep and wide distribution network have helpedthe Company to maintain its position as the market leader in New Business Sum Assured.The Company’s 13th month persistency ratio improved to 85.7% for FY2022, up from84.8% for FY2021, indicative of the quality of business being underwritten. Assets underManagement stood at ` 2,404.92 billion at March 31, 2022. This is an outcome of the trustreposed in the Company by customers, growth in new business, strong persistency androbust fund management. The solvency ratio for FY2022 stood at 204.5%, well above theregulatory requirement of 150%.Despite concerns and challenges posed by the onset of the Omicron variant, theCompany’s robust technology backbone has enabled continuity in operations, be it onboarding new customers or delivering superior service.
Centre at SDI Bhubaneswar
Underscoring Prime Minister’s vision of making Indiathe Skill Capital of the World, Shri Dharmendra Pradhan, Hon’ble Minister of SkillDevelopment and Entrepreneurship and Minister of Education, today announced that India’sfirst Skill India International Centre will be set up at SDI Bhubaneshwar, in collaborationbetween Skill
Development Institute (SDI), Bhubaneswar and NSDC international (NSDCI). Thecentre will be established for training of Indian youth per international standards, with an aimto enhance overseas opportunities for the skilled workforce.Shri Pradhan also launched a National Academy for Skill Teachers that will be set up at SDIcampus for skill training of teachers and assessors. An MoU was exchanged between Mr. Ved Mani Tiwari, COO & Officiating CEO, NSDC and Mr.Sanjay Srivastava, CEO, SDI Bhubaneswar, in presence of Hon’ble Minister Shri DharmendraPradhan.
Ambuja Plus – a special quality innovative cement from Ambuja Cements with advanced Special Performance Enhancers to Strengthen Homes Ambuja Cements Ltd., one of India’s most innovative and sustainable cement companies, has been setting industry benchmarks in offering a widerange of sustainable premium quality cement products across the country. One suchsustainable and premium product is Ambuja Plus, a special quality PPC (PortlandPozzolana) cement that’s created with an advanced formula and offers greater strength thanOrdinary Portland Cement.The Special Performance Enhancer technology of Ambuja Plus helps to extract maximumsilicate gel from cement, making the concrete stronger, denser and leak proof. Aimed at endusers like individual house builders, this special quality cement gives your desired structurethe extra needed strength and an excellent finish for it to sustain for years.It is packed in a special tamperproof bag, which keeps moisture out and thus retains
thedesired properties of cement for long. The value proposition of leakproof Ambuja Plus hasbeen highly appreciated by customers at the marketplace.Mr. Neeraj Akhoury, CEO India Holcim and MD & CEO of Ambuja Cements Ltd., said,“We are committed to the netzero pledge of our parent Holcim and our low carbon productofferings are an important part of this endeavour. By developing these products, we want toprovide green living choice to the customers to ensure a sustainable tomorrow for futuregenerations.”Mr. Rajiv Kumar, Chief Commercial Officer, Ambuja Cements, said, “Ambuja Plus.
relatablestories narrated through some wonderful verses and soulful devotional music. The channel has left no stone unturned to entertain its viewers through aweinspiring and spiritual performances on the stage of Swarna Swar Bharat. In fact,in the recent past, the show has also managed to pull in the most prominentspiritual leaders and celebrities to grace the show and encourage contestants togive their best. This weekend will be no different.
Historical drama Nayika Devi: Gujarati Film The Warrior Queen trailer is out. Khushi Shah looks fierce as India’s first female fighter Over the last three decades, Zee TV has been instrumental in providing the Indianyouth with a global platform to showcase their singing, dancing, and acting talent. Thechannel most iconic dance reality show, Dance India Dance, also revolutionized thelandscape of dance in the country when it first began to air in 2009. Over the last 13years, the platform has stood testimonial to the sheer passion and love that India holdsin its heart towards dance. After giving the audience a glimpse of
this year's mind-blowing talent, Zee TV recently launched its top-rated reality show for the youngestdancing talent in the country - DID Ll Masters Season 5. Since its launch, viewers have been having a gala time watching the young dancingsensations put up some wonderful acts week after week. In fact, this Sunday, viewersare in for a special treat as DID L’il Masters celebrates the legendary Kishore Kumarlike never before in the presence of special guests like the late singer’s wife LeenaChandavarkar.
Ahmedabad tops apprenticeship appointment intent among non-metro cities, 72% employees inclined to appoint apprentices: states TeamLease Ahmedabad emerges as the top non-metro city for apprentices, states the latest edition of the Apprenticeship Outlook Report by NETAP [National Employability through Apprenticeship Program], India’s largest degree apprenticeship program, from TeamLease Skills University. In their report for H1 2022, findings indicate that Ahmedabad records a 72% employer intent to appoint apprentices. From a pan India perspective, Ahmedabad ranks second in the apprenticeship deployment outlook. Incidentally the city has also recorded a 3% growth in the intent over the last half year.From a national perspective, 72% employers from across the country are likely to increase their appointment of apprentices; an improvement from the 69% in the previous half year.Sharing his views on the current apprenticeship
landscape in Ahmedabad, Sumit Kumar, Chief Business Officer, TeamLease Education Foundation, said, “Ahmedabad is a city that has shown great potential in terms of inclination to appoint apprentices. In fact, over the last two-three years, Ahmedabad has been a front runner in apprentices’ deployment y-o-y. Sectors like IT/ ITeS & Engineering have recorded higher outlook levels, this half year. Majority employers are adopting apprenticeships to build a strong talent pool, as they feel it is giving them 90% ROI. Much of this optimism is attributed to the extensive business growth in the region, coupled with increased acceptance of apprenticeship by both employers and candidates. Incidentally, even government push towards apprenticeship adoption by introducing additional incentives for the industry.
4 Colliers strengthens its Office Services capabilities in Mumbai with senior industry h
Press Release
Cloudphysician’sSmart-ICU Solutionprovides access to India’s best intensivists to hospitals across India using technology Cloudphysician, a new age technology enabled healthcare delivery company has developedand deployed a Smart-ICU platform to manage ICU patients in hospitals across India. Highlytrained Cloudphys ician intensivists 24x7 manage ICU patients of these hospitals from a carecenter headquartered in Bangalore. The healthcare-
as-a-service platform was started by Dr.Dhruv Joshi and Dr. Dileep Raman, both critical care doctors and pulmonologists who wereworking at the Cleveland Clinic, Ohio, USA, before returning to India to set up the company.Speaking at the 28th Annual Conference of the Indian Society of Critical Care Medicine.
IIP CPI numbers by Mr. Vivek Rathi, Director-Research at Knight Frank India Mar’22 headline inflation of 6.95% was driven both by food and fuel prices. The food prices inched up sequentially after a three month decline due to seasonal fluctuations; whereas the fuel prices rose pressured by escalating global fuel prices. As the domestic fuel price hikes were kept on hold for most part of Mar’22, the complete transmission of global fuel prices
on domestic prices is expected to be seen in Apr’22 print. India’s real estate sector withstood the pandemic led economic crisis, and is currently witnessing greenshoots, the momentum is expected to continue into 2022. However, amidst the geopolitical tensions and the rise in commodity prices, the spike in key construction raw materials poses upside.
Land Rover Opens Bookings For The New Discovery Metropolitan Edition In India
Jaguar Land Rover, India has opened bookings for the allnew Discovery Metropolitan Edition, with prices starting from INR126.55 Lakh (ex-showroom). The Metropolitan Edition is available with the P360 Ingenium petrol engine delivering a power of 265 kW and 500 Nm of torque, and the D300 Ingenium diesel engine
delivering a power of 221 kW and 650 Nm torque.The new top-ofthe-range Metropolitan Edition is designed to offer a host of exterior and interior upgrades that add to its on-road urban appeal. It builds on the purposeful R-Dynamic HSE specification with Bright Atlas detailing for the grille and Discovery script.
CPA exam in India has become very convenient for Indian candidates: Vinod Gupta Candidates aspiring to make a career in accounting and finance globally can now take the US CPA exam in India as well. Earlier one had to go to America or Dubai to take this exam. But now you can give CPA exam in India also. There are 7 exam centres for CPA in India, which include Gurugram, Ahmed abad, Mumbai, Hyderabad, Bangalore, Chennai and Thiruvananthapuram. Candidates can choose any of these as per their convenience. America’s Certified Public Accountant (CPA) course provides international
recognition to accounting and finance professionals. The minimum qualification for this is graduation from commerce stream said Vinod Gupta, Managing Director, VG Learning. CA in India is considered equivalent to CPA, but India’s CA course is not recognized in all countries. Whereas CPA is recognized in all major countries of the world and is the largest accounting body in the world. CPA has a presence in 122 countries. Vinod Gupta, MD, VG Learning said, For CPA, you have to clear 4 papers and student with proper dedication can clear with in one year.
Introducing ‘Premier Express Prime’ at Landmark Cars Ahmedabad and Surat
India’s largest luxury carmaker, Mercedes-Benz India today announced the extension of its innovative and industry-first service program ‘Premier Express Prime’ at Landmark Cars Ahmedabad and Surat. Apart from PEP, Mercedes-Benz India’s another after service program - ‘Fast Lane Body and Paint’ is also extended at Landmark Cars Ahmedabad. ‘Premier Express Prime’ (PEP) is a program that is devised to ensure that customer vehicles are serviced in the shortest possible duration, with no compromise in the quality of service. With PEP, customers
can have their Stars serviced and ready to go in just 3 hours* straight. If the service is not completed with the stipulated period of time, Landmark Cars will offer it complimentary* to the customer. Landmark Cars Workshops in Ahmedabad and Surat are equipped with the necessary infrastructure within the service centers consisting of dedicated bays, tools & equipment. A dedicated and trained team for ‘Premier Express Prime’ comprising one Team Leader and two Certified Maintenance Technicians, who have been a part of Landmark Cars for more than a decade, ensure that the service.
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