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With July futures expiring this week, rally to continue

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Market Down

Markets began the week on a quiet note and at the end of Tuesday it appeared as if we would end the week in no mans land. Market behaved in a completely different manner and over the next three days the BSESENSEX gained almost 1,000 points with NIFTY chipping in 300 points. The week closed with BSESENSEX gaining 425.81 points or 1.16 per cent to close at 37,020.14 points while NIFTY gained 133.65 points or 1.24 per cent to close at 10,768.05 points. The broader indices saw BSE100, BSE200 and BSE500 gain 1.24 per cent, 1.14 and 1.04 respectively. BSEMIDCAP was up 1.00 per cent while BSESMALLCAP lost 0.17 per cent.

The Indian Rupee gained 18 paisa or 0.24 per cent to close at Rs 75.02. Dow Jones gained 596.65 points or 2.29 per cent to close at 26,671.95 points.

The primary issue from Rossari Biotech was oversubscribed 79.37 times. QIB portion was subscribed 85.26 times, HNI 239.83 while Retail portion was subscribed 7.23 times. The cost of funding for the leveraged HNI will vary between Rs 127-137 which is 30-32 per cent of the issue price of Rs 425. This effectively means that the share needs to trade above Rs 562 for the HNI to break even and make money if it trades higher.

The follow-on public offer from Yes Bank which is the largest follow on offer was subscribed. The company received bids for 1251.51 crore shares and taking the allotted price of Rs 12 would amount to Rs 15,018 crore. There could always be some rejections on technical grounds. The share price of Yes Bank lost Rs 5.70 or 22.35 per cent to close at Rs 19.80. Shares of Yes Bank allotted through the follow-on offer are to list on Monday the 27th of July by which time the market price would be close to Rs 12-14. How they correct in the remaining five trading sessions is a matter of discussion and permutation and. combinations.

Covid-19 has many issues and different people have been impacted in different ways, but one positive impact has been the streamlining and fast track of fund raising by SEBI. We have had India’s largest rights issue from Reliance and now the largest FPO from Yes Bank. There have been rights issue from Arvind Fashion which closed on Friday and Aditya Birla Fashion and Retail which would close in the coming week. Issues go ex-rights and the entire process gets completed in less than four weeks’ time from ex-right to subscription and subsequent listing.

Mahindra and Mahindra Financial Services Limited has announced its rights issue to raise Rs 3,089 crore. The rights price is a steep 75 per cent discount to the last traded price of Rs 207.90 on Friday on the BSE. The rights ratio is one for one at a price of Rs 50. The record date for the right is Thursday (July 23). The share price would correct to some extent Monday onwards.

The important point here is that the number of rights issue and fund raising by companies is on an advanced pace and many companies are taking advantage of the relaxed conditions by SEBI to do so. The response to these issues has also been encouraging. Even in the primary market the pipeline is full and it would be interesting to see how many issues tap the market finally.

BPCL was the star performer last week with the government having extended the last date for inviting bids to July 31. The share gained Rs 67.55 or 17.95 per cent to close at Rs 443.90. The market cap of the company is Rs 96,300 crore and the street believes that bids for acquiring 53.29 per cent stake in the company would come around Rs 1.20 lakh crore, implying a further 20-25 per cent upside. Expected bidders include Rosneft, Saudi Aramco, Kuwait Petroleum, Exxon Mobil, Shell, Total and Abu Dhabi National Oil Company. This should be an interesting counter in the week ahead.

The week ahead sees July futures expire on Thursday (July 23). The current value of NIFTY is higher by 612.80 points or 5.96 per cent at 10,901.70 points. Bulls certainly have the upper hand and with disbelief in the market rally gaining further ground, it should be even easier for bulls to push home the advantage.

Coming to covid-19, the number of patients globally has increased to 144.29 lacs with 6.05 lakh deaths and 86.21 lakh patients recovering. In India the number of people affected by Covid-19 has touched 10.77 lakh with 26,828 deaths and 6.77 lakh people recovering. Compared to the previous week, globally has seen 16.81 lakh new patients with 37,219 deaths and 9.37 lakh people recovering. In India, we have added 2.27 lakh new patients, 4,132 deaths and 1.41 lakh people recovering.

The week ahead sees July futures expiring and this would keep markets choppy and volatile. There is complete disbelief in the ongoing rally and markets are in the grip of bulls in India and globally. In this situation the tendency of people to short the market on every rally is natural and therefore acts as fodder for the bulls who are on the rampage. Having made money since markets fell sharply in March 2020, in April, June and July, the bulls are sitting pretty and are likely to squeeze the bears once again in the four remaining days of trade left in the series. While valuations look skewed undoubtedly, it makes sense to ride the rally, avoid shorting and book profits whenever the situation warrants.

(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal.)

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Bihar Man Carves Out 3-km-long Canal In 30 Years To Irrigate Parched Fields

A man from Bihar’s Kothilawa village has been carving out the canal for the last 30 years that too single-handedly. This will benefit a large number of animals.

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Longi Bhuiyan

A man from Bihar’s Kothilawa village of Gaya dug out a canal 3-kilometre long canal single-handedly. This canal carved out by Laungi Bhuiyan will direct rainwater from the hills nearby to the fields within his village. This will help in irrigating the farms and will be beneficial for the entire village.

Laungi Bhuiyan took nearly 30 years to carve this canal single-handedly. He dug out the canal after he noticed that during the rainy season, water falling from the mountains would flow into the river. Bhuiyan found a way to utilise the water. He planned to save the water coming from the mountain by taking the initiative alone and carving out the canal in Kothilawa village in Gaya, Bihar.

Talking about the canal, Lungi Bhuiyan said, “It took me 30 years to dig this canal which takes the water to a pond in the village. For the last 30 years, I would go to the nearby jungle to tend my cattle and dig out the canal. No one joined me in this endeavour… Villagers are going to cities to earn a livelihood but I decided to stay back.”

The Kothilawa village in Lahthua area of Gaya in Bihar is surrounded by a dense forest as well as mountains. Moreover, it is 80 kilometres away from the Gaya district and is known to be a refuge for Maoists. The people of Kothilawa earn their living by farming as well as animal husbandry. This canal made by Bhuiyan will benefit the farmers as well as the animals which means that all villagers will benefit from his work. The villagers took this opportunity to praise his efforts and hard work.

“He has been carving out the canal for the last 30 years that too single-handedly. This will benefit a large number of animals and to irrigate the fields as well. He is not doing it for his own benefit but for the entire area,” said Patti Manjhi a local from Kothilawa.

“A lot of people will benefit here. People are now getting to know him because of his work,” said Ram Vilas Singh, a teacher from Kothilawa village in Bihar’s Gaya while praising the man for his efforts which will benefit the villagers.

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World Alzheimer’s Day 2020: Everything you must know about the brain disease

The theme for World Alzheimer’s Day 2020 is “Let’s Talk About Alzheimer.”

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Alzheimer disease

World  Alzheimer’s Day is observed every year on September 21. The day aims at raising awareness and challenge the common stigma that surrounds Alzheimer related dementia.

According to Alzinfo, every 65 seconds, someone develops Alzheimer’s disease. At current rates, experts believe the number of Americans living with Alzheimer’s will quadruple to as many as 16 million by the year 2050.

The theme for World Alzheimer’s Day 2020 is “Let’s Talk About Alzheimer.” The day was first observed in 2012.

What is Alzheimer?

Alzheimer, in simple terms, is a brain disease that negatively affects memory, thinking, and behavior. These changes interfere with daily living. According to the Alzheimer’s Association, Alzheimer’s disease accounts for 60 to 80 percent of dementia cases. Most people with the disease get a diagnosis after age 65. If it’s diagnosed before then, it’s generally referred to as early-onset Alzheimer’s disease.

Symptoms of Alzheimer:

According to the National Institute on Aging, in addition to memory problems, someone with Alzheimer’s disease may experience one or more of the following signs:

  • Memory loss that disrupts daily life, such as getting lost in a familiar place or repeating questions.
  • Trouble handling money and paying bills.
  • Difficulty completing familiar tasks at home, at work, or leisure.
  • Decreased or poor judgment.
  • Misplaces things and being unable to retrace steps to find them.
  • Changes in mood, personality, or behaviour.
  • Withdrawal from friends, family, and community.

Stages of Alzheimer:

  • Stage 1. There are no symptoms at this stage but there might be an early diagnosis based on family history.
  • Stage 2. The earliest symptoms appear, such as forgetfulness.
  • Stage 3. Mild physical and mental impairments appear, such as reduced memory and concentration. These may only be noticeable by someone very close to the person.
  • Stage 4. Alzheimer’s is often diagnosed at this stage, but it’s still considered mild. Memory loss and the inability to perform everyday tasks is evident.
  • Stage 5. Moderate to severe symptoms require help from loved ones or caregivers.
  • Stage 6. At this stage, a person with Alzheimer’s may need help with basic tasks, such as eating and putting on clothes.
  • Stage 7. This is the most severe and final stage of Alzheimer’s. There may be a loss of speech and facial expressions.

Treatment Of Alzheimer:

Alzheimer’s is most commonly identified through patient and family history, and by talking to the immediate family about the presence of symptoms. Also, brain imagining may be suggested to check for beta-amyloid protein deposits. As of today, there is no curative treatment for Alzheimer’s. Drugs are usually administered to manage symptoms and healthy lifestyle changes.

Despite this, Alzheimer’s is one of the most expensive diseases to get treatment for. The global cost of dementia is estimated to be around $1 trillion currently.

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At 7, child prodigy honours literary legacy with first book

They added that the title of the book, cover page and all the illustration are also a part of her creativity.

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Abhijita a student of Class II

New Delhi, September 20: Padma Bhushan recipient Rashtrakavi Maithalisharan Gupts and Santkavi Siyaramsharan Gupt’s great grand daughter Abhijita Gupta, who is all of seven years and a child prodigy, has penned her first collection of stories and poems.

The book titled ‘Happiness All Around’, and was launched by Oxford Bookstores’ children’s wing, Oxford Junior in collaboration with Invincible Publishers. Seven-year-old Abhijita, taking after her family’s literary legacy, had started writing at a very tender age of five years.

The collection is an attempt to give children something to read, written by someone of their own age. (Abhijita Gupta – “The little poet”/Facebook)
“Abhijita is a student of Class II and is a third generation writer, to poet duo Rashtrakavi Shri Maithalisharan Gupt and Santkavi Shri Siyaramsharan Gupt. She is an avid reader and very expressive with her pen. She wrote her first story when she was a little over five years. By the grace of goddess Saraswati, she is carrying forward the traits of her forefathers and we hope she extends the legacy of Sahitya Sadan Gharana,” her parents Ashish Gupt and Anupriya Gupta said.

They added that the title of the book, cover page and all the illustration are also a part of her creativity.

“For her, every little thing around her matters: what she sees, she hears, she touches, she smells, she tastes and she feels — constantly soaking in the environment around her. And, her debut book proffers just that – the pure senses and humane values like an elixir.”

The collection is an attempt to give children something to read, written by someone of their own age. The book could prove equally useful for parents of young children, as it gives an insight into the mind of a six-seven year old and what thoughts and things interest her. The writings have been left untouched so that the innocence, mistakes included, of the child are not diluted.

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