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Market Watch : FII’s inflows to help market register gains

Shares of Vedanta have gained in the past week post the announcement of the meeting for the interim dividend. They gained Rs 9.80, or 10.32% to close the week at Rs 104.80.

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Sensex Stock Market Update UP and Low

Markets continued to gain ground during the week gone by with gains registered on four of the five trading days. BSESENSEX gained 702.52 points or 1.76% to close at 40,685.50 points while NIFTY gained 167.90 points or 1.43% to close at 11,930.35 points. The broader market saw BSE100, BSE200 and BSE500 gain 1.51%, 1.58% and 1.64% respectively. BSEMIDCAP was up 2.43% while BSESMALLCAP was up 2.56%. The breadth of the market increasing as is apparent from the gains in midcap and Smallcap are the redeeming feature.

Indian rupee lost 28 paisa or 0.38% to close at Rs 73.62 to the US Dollar. Dow Jones was under pressure and lost 270.74 points or 0.95% to close at 28,335.57 points.

In primary market news, the fresh issue of Rs 280 crs and an offer for sale of 7.2 cr shares from Equitas Small Finance Bank Limited, was subscribed 1.95 times. The issue saw QIB portion subscribed 3.91 times, HNI portion undersubscribed at 0.22 times, Retail portion subscribed 2.08 times and Shareholder reservation undersubscribed 0.42 times. The price band of the issue was Rs 32-33.

Vedanta Limited has declared an interim dividend of Rs 9.50 for the current financial year 2020-2021. This is from the dividend which it has received from its subsidiary, Hindustan Zinc Limited of Rs 16.50 per share or Rs 6,972 crs. The dividend received by Vedanta against its holding of 64.92% was Rs 4,526 crs. Vedanta has distributed 77% or Rs 3,500 crs of this amount to shareholders of the company. The dividend by Hindustan Zinc was declared in May 2020. Probably Anil Agarwal was super confident that he would be able to pull of the delisting at the ridiculous price of Rs 87.25 and therefore used the proceeds of the dividend to fund his delisting war chest. Looking at it another way he felt that if he succeeds in delisting, the dividend would not have to be shared with minority shareholders. Failing in the exercise, he has distributed the same as per the company dividend policy after five months.

Incidentally, Hindustan Zinc has announced a second interim dividend of Rs 21.30 per share totalling Rs 9,000 crs on 20th October. Assuming that Vedanta would distribute the similar 77% of the dividend received, this would amount to Rs 12.25 per share. On a simple maths and assuming the price of Vedanta to be Rs 100, the two dividends, one proposed and one expected, total Rs 21.75, a dividend yield of 21.75%. Wonder how many companies if any, can boast of that record. Its high time that promoters stop taking their minority shareholders for a ride.

Incidentally, the government has proposed a strategic sale of Hindustan Copper and with Sterlite’s Tuticorin copper smelter plant shut, this becomes a must acquire proposition for Vedanta. Currently there are just two copper smelters in India and both are owned by state run Hindustan Copper Limited. The others like Birla Copper and Sterlite were importing copper concentrates to make cathodes. Its high time, the Anil Agarwal group mends its way and tries to becoming more investor friendly.

Shares of Vedanta have gained in the past week post the announcement of the meeting for the interim dividend. They gained Rs 9.80, or 10.32% to close the week at Rs 104.80.

The buoyancy in the markets has been helped by FII’s being buyers in the market. On a monthly basis they were net sellers of Rs 11,410 crore in September, which they have more than bought back with net purchases of Rs 13,565 crore in October so far. They had also bought Rs 15,749 crs in August of this year. As long as the inflow is so strong where 2 billion dollars are pumped in a month, it would be fair to say that markets cannot fall. If to this you add the fact that the breadth of the market is increasing you have a setting for the present optimist mood to continue.

On the Covid-19 front, the world saw 4,29,46,446 patients with 11,54,862 deaths and 3,16,73,006 people recovering. In India, the number of patients were 78,64,811 with 1,18,567 deaths and 70,78,123 people recovering. Compared to the previous week, there were 29,86,795 new patients, 40,221 deaths and 17,82,622 people recovering. In India there were 3,70,260 new patients, 4,503 deaths and 4,80,914 people recovering. The number of patients recovering has been consistently more than new patients and the same is a very positive sign. The successful launch of a vaccine is eagerly awaited while some countries have begun mass scale administering of dosages for the same.

The week ahead sees October futures expire on Thursday the 29th of October. The present level of NIFTY is higher by 1,124.80 points or 10.41% for the series. This double-digit gain is huge and quite unnatural. One must of course exclude the fall this year in March2020 when the pandemic broke out and the recovery which followed in April 2020. Expect the bulls to build on the same while the bears would try to claw some of it back. Results so far for the NIFTY pack have been good and are fuelling the rally.

With expiry just four days away, expect markets to be volatile and have larger intraday movement. As long as there is no major negative news flow it would be fair to assume that markets would continue to register gains no matter how much smaller. Positive inflows from FII’s would further help markets to gain ground. Continue using sharp dips to add to positions and rallies to sell.

–IANS

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International Day of Persons with Disabilities: Theme, Date and history of the day

International Day of Persons with Disabilities: It aims to increase public awareness, understanding and acceptance of people with disabilities and celebrate their achievements and contributions.

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International Day of Persons with Disabilities

International Day of Persons with Disabilities is an international observance promoted by the United Nations since 1992. It is celebrated on December 3 all around the world. It aims to increase public awareness, understanding and acceptance of people with disabilities and celebrate their achievements and contributions.

IDPD mobilizes support for critical issues relating to the inclusion of persons with disabilities, promotes awareness-raising about disability issues and draws attention to the benefits of an inclusive and accessible society for all.

UN agencies, civil society organizations, academic institutions and the private sector are motivated to support IDPD by collaborating with organizations for people with disabilities to arrange events and activities.

International Day of People with Disability: Theme

The theme for IDPwD 2020 is “Building Back Better: toward a disability-inclusive, accessible and sustainable post COVID-19 World”.

Every year the UN announces a theme to observe for International Day of People with Disability. The annual theme provides an overarching focus on how society can strive for inclusivity through the removal of physical, technological and attitudinal barriers for people with disabilities.

This has been occurring since 1992 when the General Assembly announced 3 December as the International Day of Disabled Persons.

National Disability Strategy 2010–2020

In Australia, the National Disability Strategy 2010–2020 commits all governments to a nationwide approach aimed at improving the lives of disabled people, their families and carers.

The Strategy’s ten-year national framework for reform concentrates on better inclusion for people with disabilities and seeks to create a society that enables people with disabilities to fulfill their potential as equal citizens.

On the 2012 International Day of People with Disability, the United Kingdom government introduced mandatory work for disabled people who received welfare benefits in order to “Improve disabled peoples chances of getting work by mandatory employment”.

A program is also launched on December 3 across India to serve the differently-able community of the country as an initiative called Accessible India Campaign under the Article 9 of UN Convention on the Rights of Persons with Disabilities (UNCRPD)

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BJP leaders brainstorm for second day, say govt ready for talks with farmers

Union Home Minister Amit Shah met Agriculture Minister Narender Singh Tomar earlier in the day to discuss the strategy to break the logjam.

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Farmers on Protest

Eager to break the deadlock with famers who are agitating for scrapping the new farm laws, the Bharatiya Janata Party (BJP) leadership held meetings for a second consecutive day on Monday and sent out the message that the Union government is ready for talks.

Union home minister Amit Shah met Union minister for agriculture, NS Tomar earlier in the day to discuss the strategy to break the logjam. A senior party functionary said, “The message from the top is clear that the laws are not anti-farmers and that the farmers are being misled. Prime Minister Narendra Modi has reiterated that laws will offer better opportunity for the farmers.”

The functionary said the government is ready to sit across the table and discuss the new laws and “address whatever concerns” the farmers have.

Speaking in Varanasi, the PM on Monday said the laws have given farmers new options and legal protection. He lashed out at the opposition for “misleading” the farmers and said earlier decisions of government were opposed now rumours have become the basis for opposition and propaganda is being served even though the laws favour the farmers.

The party has also opted for a cautious, measured response to the agitation. Even though it is pinning the blame on the opposition for provoking the protest, it is taking care not to rile the farmers. “The farmers are innocent. They are being misled by those with vested interests. The laws have barely been implemented and their impact is yet to be ascertained, so how can people rush to call these anti-farmers,” said Rajkuamr Chahar, head of the BJP’s Kisan Morcha.

He said the Punjab unit of the Morcha has been communicating with the farmers’ representatives and has relayed the government’s willingness to address their concerns.

On Monday, even as the party tried to diffuse the anger against the bills, its ally the Rashtriya Loktantrik Party (RLP) joined the chorus for the rollback of the laws. Rajasthan lawmaker and RLP chief, Hanuman Beniwal, shot off a letter to Shah, seeking the reversal of the laws.

“….In view of the countrywide sentiment in support of the ongoing farmers’ movement, the recently introduced three bills related to agriculture should be immediately withdrawn. (The Centre must) implement all recommendations of the Swaminathan Commission, and immediately hold dialogue with farmers in Delhi,” he said.

The BJP, however, played down the ally’s demand. Its national spokesperson on economic issues, Gopal Krishna Agarwal said, “We assure all, including our NDA partners that farmers’ well-being and welfare are in our heart. Large scale market reforms are needed and that has always been the consensus.”

He went on to add that while the BJP opposes misgivings about the APMC mandis being dismantled and MSP being withdrawn, the opposition is politicizing the issue along with the Arhtiyas (commission agents) and middleman.

“We have offered all the basic facilities to farmers, drinking water, toilets, shelters and medical facilities. They have been given permission to protest and also been invited for dialogue. We are open for all discussions on the merits or demerits of the three bills. If farmers have certain serious concerns, we are ready to listen to them,” he said.

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Lunar Eclipse: Chant these mantras for peace during Chandra Grahan

Check out the Chandra Beej Mantra, Dhanvantari Mantra, Maha Mrityunjaya Mantra and Shanti Path given below to ward off the ill-effects of this celestial movement.

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Lunar eclipse

Lunar Eclipse 2020: The fourth and the last Upachaya Chandra Grahan (Penumbral Lunar Eclipse) of 2020 will take place today. Though Sutak is not applicable during Upachaya Chandra Grahan, the constant movements of the Grahas (planets) may cast an impact on zodiac signs. It may influence people’s natal charts. Hence, people must chant mantras to negate the negative effect of Grahan.

The Lunar Eclipse will have a duration of 4 hours and 18 minutes. It will begin on Monday at 1.04 pm and reach its peak at 3.13 pm. The Lunar Eclipse will end at 5.22 pm and will have a magnitude of 0.82.

Check out the Chandra Beej Mantra, Dhanvantari Mantra, Maha Mrityunjaya Mantra and Shanti Path given below to ward off the ill-effects of this celestial movement.

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COVID-19 affects different people in different ways. Most infected people will develop mild to moderate illness and recover without hospitalization.