IT snag trips NSE

155 minutes

What is it? The duration for which trading at India’s largest stock exchange, National Stock Exchange (NSE), was halted on Monday.

Why is it important? This is the longest ever halt in trading at NSE, which has dominant market share in equity derivative market in India. This comes ahead of NSE’s plans to list, which has already been delayed by an investigation due to its December disclosure that some of its traders may have been given unfair access to its servers.

Tell me more: Both NSE Nifty and BSE Sensex rose to record highs of 9,771.05 and 31,715.64, respectively on Monday.

 

Rs 4.59 lakh crore

What is it? The total central government expenditure between April-May this year, 54% higher compared to corresponding numbers last year.

Why is it important? Advancing of budget by a month this year has helped government departments to spread out expenditure. Likely to aid economic growth as private investment, the main driver of GDP growth, has remained anemic so far in 2017. Government spending accounts for 10% of India’s GDP.

Tell me more: The capital expenditure in the April-May period was Rs 52,536 crore, up 58.1% from the corresponding period in the previous fiscal.

 

300,000

What is it? The number of people affected by cholera in Yemen in the last 10 weeks, according to the International Committee of the Red Cross (ICRC).

Why is it important? This is the worst cholera outbreak in the world, with 7,000 new cases and 1,700 deaths so far. The outbreak is due to the civil war between the pro-government forces and the rebel Houthi movement. With no electricity, a broken water system and only 45% of the hospitals operational, the situation isn’t likely to improve anytime soon.

Tell me more: There are between 21,000 and 143,000 cholera deaths out of 1.3 million to 4 million cases each year. Cholera can be successfully treated with oral re-hydration solution.

 

7

What is it? The number of pilgrims on this year’s Amarnath Yatra killed on a bus in a terror attack on Monday night, in Kashmir’s Anantnag.

Why is it important? This is the second deadliest terror attack on the pilgrims, after the massacre in 2000. The pilgrims were caught in a crossfire and were travelling past the stipulated pilgrimage travel deadline of 7 pm, after which security cover is withdrawn daily.

Tell me more: The terrorists had started firing blind after facing retaliatory fire from a police check post and security personnel’s vehicle nearby. The bus carrying the pilgrims was not part of the official Amarnath tour and was not under the beefed up security protection arranged this year.

 

>Rs 2,000 crore

What is it? The claim for compensation filed by SpiceJet’s erstwhile promoter, Kalanithi Maran, chairman and managing director of Sun Group, from the low-cost airline.

Why is it important? This was filed before the Delhi High Court tribunal which is deliberating on a share transfer dispute between Maran and the airline’s current owner, Ajay Singh. The claim stems from SpiceJet’s inability to issue convertible warrants and preference shares to Maran and his firm, KAL Airways.

Tell me more: The tribunal, last week, directed SpiceJet to pay Rs 250 crore in cash deposit and Rs 229 crore in bank guarantee to Maran for the same. As part of the tribunal hearings, it was also divulged that Singh bought 58.46% stake in the airline for a sum of Rs 2.

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News in Numbers, Feb 03, 2017: 2G scam’s half a dozen

6

What is it? Number of those acquitted, including erstwhile telecom minister Dayanidhi Maran and two companies, in two different cases on the Aircel-Maxis 2G deal, by judge, OP Saini, at the special Central Bureau of Investigation (CBI) court in Delhi on Thursday.

Why is it important? The efforts of the CBI and Enforcement Directorate, probing the wide-ranging offences in India’s 2G scam, took a beating with the exoneration. Maran was mired in the controversial spectrum allocation, favouring Aircel, and brokering a deal in Aircel for Maxis since 2010 onwards. In one of the cases, there was an alleged money-laundering of Rs 742.58 crore in kickbacks, by two companies South Asia FM and Sun Direct TV. The other involved criminal conspiracy of pressurising one of Aircel’s promoters to sell his stake to Malaysian Maxis Group.

Tell me more: The others acquitted include Maran’s brother Kalanithi, Kalanithi’s wife Kavery Kalanithi, South Asia FM (SAFL) Managing Director K Shanmugam and the companies SAFL and Sun Direct TV.

 

5

What is it? Number of states in the US where federal judges have objected, in part, to president Donald Trump’s executive orders for restricting entry to people of seven nationalities and refugees.

Why is it important? Trump’s move is not only inviting widespread protests but also facing legal challenges by federal judges in the country. Most of them are taking up parts of the order as challenged by cases brought to them by affected parties. US District Judge Andre Birotte Jr followed four other instances to limit the order issued last Friday to bring relief to plaintiffs in a case. But he widened the sphere of his ruling by including anyone from the seven countries with a valid immigrant visa to the US, unlike the earlier rulings

Tell me more: Reports claim that immigration/customs officials were ignoring the judges’ earlier orders by refusing access to the detainees who had moved court. At the same time, the Trump administration tweaked their’s to allow green card or valid US permanent residence holders to enter, irrespective of nationality.

 

10

What is it? Number of warheads on China’s recently-tested long-range missile.

Why is it important? A flight-test in January is being seen as China flexing its military muscles, even though its nuclear stockpile might be smaller than United State’s traditional rival, Russia. The missile, DF-5C, is clear evidence of China increasing its nuclear arsenal. Its warhead count has likely gone up from the estimated 250. Not just over trade relations with the US, China has also had recent disagreements over its military activities in the South China Sea.

Tell me more: Chinese state television had broadcast another nuclear missile, DF-41’s deployment and strike path into the US last week.

 

$487 million

What is it? Amazon.com’s international losses in the fourth quarter, ended December 31.

Why is it important? It increased by four times year-on-year. The business arm, which includes Amazon’s India concerns, grew 18% to $ 13,965 million but could not keep losses at bay. Last month, Amazon India’s FY15 losses were found to be Rs 1,724 crore, rising by five times. The perseverance of the US-based e-commerce company goes to show its deep pockets as it is prepared to dig its heels in a promising market by advertising and discounting aggressively.

Tell me more: While its North America and cloud Amazon Web Services arms posted profits, this was its international business’ biggest operating loss. In many of its international markets, Amazon also offered its Prime Videos at no additional cost to its Prime members, streaming original content that it had produced.

 

Rs 1,085

What is it? The listing price of the Bombay Stock Exchange (BSE) on rival bourse, the National Stock Exchange, on Friday.

Why is it important? The shares listed at a premium of 34.6% of its IPO issue price of Rs 806. Investor faith in the stock of the world’s 10th-largest and India’s largest bourse gets reiterated by its debut, as it beats the 5-15% premium that analysts expected it to launch at. It reflects the 51.22 times oversubscription of its IPO in January.

Tell me more:  At 10:30 am, it was trading at Rs 1,119.50.

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News in Numbers – September 10, 2015

News In Numbers: September 10, 2015

 

Rs 50 lakh

The amount the National Stock Exchange (NSE) has been fined by the Mumbai High Court in a defamation case it had filed against financial news website Moneylife. The bourse filed a Rs 100 crore defamation suit against Moneylife following an article written by Sucheta Dalal alleging that NSE staffers were leaking sensitive information related to high-frequency trading, which helped a select set of investors to trade faster than their competitors. Despite repeated requests by Moneylife, NSE did not participate in the story. According to Hoot, a media watch website, there were 21 instances of defamation cases and legal notices being filed by politicians, business houses, lawyers, former judges and media houses to book publishers, advertisers, other media houses and journalists in 2014.

 

7.5%
Share of revenue Infosys expects to earn by way of acquisitions of the total 2020 target revenue of $20 billion. The Bengaluru-based IT firm is working towards a 30% operating margin and $80,000 revenue per employee in another five years. In 2014-15, Infosys earned $8.7 billion in revenue. Quoting the way Accenture and Cognizant have acquired other companies, Vishal Sikka, managing director and chief executive of Infosys, said they need to do something similar without copying them. The company has made two acquisitions this year. Since the beginning of 2015, Accenture has acquired nine companies.

 

1.9 percentage points

The amount by which global corporate profits as a share of global GDP will fall by 2025, according to a new study by McKinsey, the consulting firm. According to McKinsey, the share of corporate profits as a share of world GDP was 9.8% in 2013. By 2025, this will fall to 7.9% due to a range of factors. Increased competition as firms in emerging markets continue to expand beyond their borders is one major reason.  Another reason, McKinsey says, is the fall in labour costs and interest rates observed over the last few decades is unlikely to continue.

 

21.6%
According to a survey conducted by the Indian government, over a fifth of the toilets it has constructed are non-functional and effectively beyond use. The government has built 6 crore toilets. Chaudhary Birendra Singh, Union Rural development minister, said a change in mindset was needed to make people use toilets. The government is aiming to do away with open defecation under the Swachh Bharat mission by 2019. Over half a billion people in India – or 59% of the 1.1 billion people in the world — still defecate in the open, according to the World Health Organization.

 

400
The number of Indian railway stations Japan will help India redevelop by sending an official mission to “study the opportunities for industries”. Besides this, Japan has agreed to participate in Indian railways’ investment plan of $140 billion in the next five years and engage in technology cooperation for modernising and upgrading Indian railways. Japanese railways and companies would also assist India in its zero-accident mission. Indian railways posted a loss of Rs 30,000 crore in the passenger segment in 2014. Japan has announced a funding of $35 billion across various infrastructure projects over the next five years.

 

 

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