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a crossfire and were travelling past the stipulated pilgrimage travel deadline of 7 pm, after which security cover is withdrawn daily.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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Overstaying our welcome

Rs 43,000 crore

What is it? The value of the Sahara Group’s flagship project, Aamby Valley, in Lonavala, Maharashtra, estimated by the official liquidator appointed by the Bombay High Court for an imminent auction.

Why is it important? The updated value, in recent reports, is a little higher than the range of Rs 37,00039,000 crore previously stipulated. However, it is still much less than the value claimed by the group of late: Rs 1 lakh-crore. The market value is expected to be higher than the estimate.

Tell me more: The group has said there would be no auctions, as it had paid the Rs 1,500-crore cheque it scheduled for June. However, its failure to deposit Rs 5,092.64 crore with the market regulator, Sebi, had led the Supreme Court to order its auction in April. The apex court had attached the property in February to recover the dues, whose main claimant Sebi is now joined by the Income Tax department as well.

 

19

What is it? The number of people killed in an explosion in a concert arena, being suspected as a terror attack, in Manchester, UK.

Why is it important? If it is confirmed as an attack by terrorists, this would be the second deadliest in the UK after London’s July-2005train and bus bombings. The 2005 attack had claimed the lives of over 50 people.

Tell me more: The explosion occurred at the end of a concert, as the audience was exiting the building, injuring over 50 people as well.

 

18,000

What is it? Estimated stock of General Motors (GM) vehicles with various dealers in India.

Why is it important? Dealers are unlikely to get any buyers for these vehicles, as the American automaker decided to exit India by December this year. GM’s dealers also warn of 15,000 job losses.

Tell me more: Suzuki Motor Corp, which sells every second car in India, had quit US market in 2012 because of low sales volume.

 

100%

What is it? The percentage of Foreign Direct Investment (FDI) that government is planning to allow in multi brand retail in India.

Why is it important? If permitted, this represents a change in the thinking of Bharatiya Janata Party, which has opposed such moves when the Congress-led United Progressive Alliance was in power. Domestic retail market is estimated at $ 630 billion market and employs around 5% of labour force.

Tell me more: At present, 51% FDI is allowed in multi brand retail in cities with population of more than a million, and with approval of state governments. Current proposal bans selling of imported products.

 

30,399

What is it? The number of Indians who have overstayed in US, beyond what was permitted under different visa categories.

Why is it important? Indians account for 4.8% of total number of people who have overstayed, estimated at 628,799 at the end of September 2016. Around 1.4 million Indians holding various visas (business, tourism, student, and others) were expected to leave US by September 2016.

Tell me more: 50.43 million people who entered US were expected to depart in 2016, and out of which, 1.47% overstayed. Overstay rate for Indians is 2.1%.

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