Tag: Fall

  • Two Vehicles Fall Off Cliff After Hit By Avalanche

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    SRINAGAR: Two vehicles skidded off the road and rolled down the cliff after a snow avalanche came barreling down on the Srinagar-Kargil highway at Zojila Pass, Police said.

    The incident occurred near Panimatha Captain Mode at Zojil Pass.

    The ill-fated vehicles were on their way to Kargil from Srinagar.

    Station House Officer, Police Station Sonmarg, Fayaz Ahmed said that a passenger vehicle (Xylo) and a Camper rolled down after a snow avalanche hit them near Panimatha area on Zojila Pass.

    “Rescue teams including a police party rushed to the spot and retrieved the passengers, however, vehicles could not be retrieved due to the inclement weather,” he said adding that it is still snowing on Zojila Pass.

    The police officer further informed that after the incident, the Srinagar-Kargil highway has been closed to traffic.

    “We turned back all the vehicles that were heading for Kargil from Sonmarg,” he added. (KNT)

     

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    ( With inputs from : kashmirlife.net )

  • Gold Rates Fall Down On Today, May 2023: Check New Rates In Your City – Kashmir News

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    Gold rates have come down on Saturday, 6 May 2023. Until today, the price of the yellow metal has been on the rise. Gold prices increased on the three consecutive days of May 3, 4 and 5th.

    The 10 grams of 22-carat gold in India today cost Rs 56,500 as against Rs 57,200 yesterday and ten grams of 24-carat gold in India today cost Rs 61,640 as against Rs 62,400 yesterday.

    Today 22 Carat Gold Price Per Gram in India (INR)

    Gram22K Today22K YesterdayPrice Change
    1 gram5,6505,720-70
    8 gram45,20045,760-560
    10 gram56,50057,200-700
    100 gram5,65,0005,72,000-7,000

    Today 24 Carat Gold Rate Per Gram in India (INR)

    Gram24K Today24K YesterdayPrice Change
    1 gram6,1646,240-76
    8 gram49,31249,920-608
    10 gram61,64062,400-760
    100 gram6,16,4006,24,000-7,600

    22 Carat Gold Rate in Jammu Kashmir (Today & Yesterday)

    GramTodayYesterdayPrice Change
    1 gram₹ 5,760₹ 5,830₹ 70▼
    8 grams₹ 46,080₹ 46,640₹ 560▼
    10 grams₹ 57,600₹ 58,300₹ 700▼

    24 Carat Gold Rate in Jammu Kashmir (Today & Yesterday)

    GramTodayYesterdayPrice Change
    1 gram₹ 6,048₹ 6,122₹ 74▼
    8 grams₹ 48,384₹ 48,976₹ 592▼
    10 grams₹ 60,480₹ 61,220₹ 740▼

    Gold Prices in Top Indian Metros On  6 May 2023

    Major Indian Cities22-Carat Gold Rates Today24-Carat Gold Rates Today
    ChennaiRs 56,920Rs 62,090
    MumbaiRs 56,500Rs 61,640
    DelhiRs 56,650Rs 61,790
    KolkataRs 56,500Rs 61,640
    BangaloreRs 56,550Rs 61,690
    HyderabadRs 56,500Rs 61,640
    SuratRs 56,550Rs 61,690
    PuneRs 56,500Rs 61,640
    VisakhapatnamRs 56,500Rs 61,640
    AhmedabadRs 56,550Rs 61,690
    LucknowRs 56,650Rs 61,790
    NashikRs 56,530Rs 61,670

    The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller. The above-mentioned list is of the gold prices for the day per 10 grams of 22 carats of gold and 24-carat of gold in various cities across India.


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    ( With inputs from : kashmirnews.in )

  • India’s foreign exchange reserves fall to $584.24 billion

    India’s foreign exchange reserves fall to $584.24 billion

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    New Delhi: India’s foreign exchange reserves fell by $2.164 billion to $584.248 billion for the week ending April 21, according to data released by the Reserve Bank of India (RBI) on Friday.

    In the previous reporting week, the overall kitty had risen by $1.657 billion to $586.412 billion.

    Incidentally in October 2021, the country’s forex reserves had reached an all-time high of $645 billion.

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    In the period under review, the reserves fell mainly due to foreign currency assets (FCAs) shrinking by $2.146 billion to $514.489 billion.

    The reserves have been declining as the RBI has used the funds to defend the rupee amid pressures caused mainly by global developments.

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    ( With inputs from www.siasat.com )

  • First Republic Bank shares fall 50% after reporting dramatic slump in deposits

    First Republic Bank shares fall 50% after reporting dramatic slump in deposits

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    First Republic Bank’s shares closed down 50% on Tuesday, a day after the mid-sized US bank announced a dramatic slump in deposits.

    On Monday the San Francisco-headquartered reported a more than $100bn plunge in deposits in the quarter in the aftermath, sparking fears that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.

    Amid the biggest turmoil to hit the banking sector since 2008, the bank now faces tough options to turn around its business with the creation of a “bad bank” or asset sales possibilities, a source familiar with the matter said, after the lender showed the extent of deposit flight during last month’s banking crisis.

    “If someone were to acquire them … there’s going to be some big writedowns that would have to be taken against some of the assets given the rate cycle,” Christopher Wolfe, head of North American banks at Fitch Ratings, told Reuters, referring to the bank’s mortgage loan book and securities portfolio.

    “The options are very challenging and probably very costly, especially for shareholders,” Wolfe said. “Who’s going to bear the cost?”

    First Republic said on Monday it was “pursuing strategic options” to quickly strengthen the bank, without providing details.

    The lender was studying all options, a person familiar with the matter said on Monday, speaking on condition of anonymity because the discussions were private.

    The source said the bank wanted the US government to help by convening parties that could buoy San Francisco-based First Republic’s fortunes, including private equity firms and big lenders.

    Options include an asset sale of up to $100bn, a source familiar with the situation said. Bloomberg News earlier reported the chance of asset sales and said buyers might receive incentives such as warrants or preferred equity.

    The bad bank possibility, earlier reported by CNBC, is a crisis-type method of isolating financial assets that have problems.

    The latest woes in the banking sector were felt among other banks and the broader market with the KBW Regional Banking Index dropping 3.8% and the broader S&P 500 bank index down 2.6%.

    Wall Street analysts expect challenges to extend through the year after failures at Silicon Valley Bank and Signature last month created a liquidity crunch at a slew of regional lenders.

    The bank has been reeling as it navigates the twin challenges of assuring customers their deposits remain safe and investors that it has liquidity to emerge from the crisis.

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    “Although deposits have stabilized since quarter-end, the company’s liquidity questions have turned into earnings questions,” said analysts at Piper Sandler.

    The sector-wide upheaval has led to the KBW Regional Banking Index contracting nearly 22% this year, while First Republic shares dived roughly 87% in the fallout.

    “The question is whether the risk was First Republic specific or whether it will lead to larger banking concerns,” brokerage JonesTrading wrote in a note.

    First Republic said on Monday it plans to shrink its balance sheet and slash expenses by cutting executive compensation, paring back office space and laying off 20% to 25% of employees in the second quarter.

    Last month, concerns about the bank’s health had prompted top power brokers including US Treasury Secretary Janet Yellen, Federal Reserve chair Jerome Powell and JPMorgan’s CEO Jamie Dimon to put together an unprecedented $30bn rescue deal.

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    ( With inputs from : www.theguardian.com )

  • Infosys shares fall over 9%; mcap declines by Rs 59349 cr post-Q4 earning report

    Infosys shares fall over 9%; mcap declines by Rs 59349 cr post-Q4 earning report

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    New Delhi: Shares of Infosys on Monday tanked more than 9 per cent, wiping out Rs 59,349.66 crore from its market valuation after the company reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24.

    The stock tumbled 9.40 per cent to settle at Rs 1,258.10 on the BSE. During the day, it plunged 12.21 per cent to Rs 1,219 — its 52-week low mark.

    On the NSE, it fell 9.37 per cent to finish at Rs 1,259.

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    Infosys was the biggest drag on both the benchmark indices Sensex and Nifty.

    The company’s market valuation also declined by Rs 59,349.66 crore to Rs 5,21,930.34 crore.

    The 30-share BSE Sensex fell 520.25 points or 0.86 per cent to finish at 59,910.75, pulled down by Infosys and weak trends in other IT counters.

    “The real damage was done by the frontline IT stocks with Infosys coming under severe hammering after its corporate earnings failed to meet street estimates. Besides disappointing results, worries of weak IT spending by multinational giants on gloomy economic conditions and recessionary fears have weighed heavily on the sector over the past few months,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd, said.

    Other IT firms also faced heavy drubbing, with Tech Mahindra, HCL Technologies, Tata Consultancy Services and Wipro falling in the range of 1-5.25 per cent.

    The IT index tanked 4.77 per cent to settle at 26,887.72.

    “The worse-than-expected Q4 results from Infosys with only 4-7 per cent revenue growth for FY24 will drag down IT stocks impacting the Nifty,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

    On Thursday, Infosys reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid the tightening of IT budgets by clients following turmoil in the US banking sector.

    Infosys’ latest report card was a disappointment on several fronts – the company missed revenue guidance for FY23 hit by “unplanned project ramp downs and decision-making delays by some clients”, the company said.

    With global macroeconomic uncertainties looming, it has given a subdued 4-7 per cent revenue growth forecast for FY24, with top management cautioning that “the environment remains uncertain”.

    The company had last given single-digit revenue guidance in FY19.

    India’s second-biggest software services firm posted a 7.8 per cent year-on-year growth in consolidated net profit at Rs 6,128 crore for the March quarter. But the profit fell 7 per cent when compared to the preceding December quarter.

    Revenue growth in constant currency for FY23 came in at 15.4 per cent, lower than the guidance. Notably, during the Q3 earnings announcement in January this year, Infosys which competes in the market with Tata Consultancy Services (TCS), Wipro and other IT firms — had raised FY23 revenue guidance to 16-16.5 per cent (against the previously projected band of 15-16 per cent).

    Infosys’ Q4 year-on-year growth was 8.8 per cent and the sequential decline was 3.2 per cent in constant currency terms.

    Revenue rose 16 per cent year-on-year in the fourth quarter of FY23 to Rs 37,441 crore but declined 2.3 per cent when compared to December 2022 quarter.

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    ( With inputs from www.siasat.com )

  • Infosys shares fall nearly 15 pc post earnings announcement

    Infosys shares fall nearly 15 pc post earnings announcement

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    New Delhi: Shares of Infosys on Monday tanked nearly 15 per cent in morning trade, wiping out Rs 73,060.65 crore from its market valuation, after the company reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24.

    The stock tumbled 12.21 per cent to Rs 1,219 — its 52-week low mark — on the BSE.

    At the NSE, it fell 14.67 per cent to its 52-week low of Rs 1,185.30.

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    Infosys was the biggest drag on both the benchmark indices Sensex and Nifty.

    The company’s market valuation also declined by Rs 73,060.65 crore to Rs 5,08,219.35 crore.

    The 30-share BSE Sensex quoted 891.04 points or 1.47 per cent lower at 59,539.96 in morning trade, pulled down by Infosys and weak trends in other IT counters.

    Other IT firms also faced heavy drubbing, with Tech Mahindra, HCL Technologies, Tata Consultancy Services and Wipro falling in the range of 3-6 per cent.

    “The worse-than-expected Q4 results from Infosys with only 4-7 per cent revenue growth for FY24 will drag down IT stocks impacting the Nifty,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    Infosys on Thursday reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid the tightening of IT budgets by clients following a turmoil in the US banking sector.

    Infosys’ latest report card was a disappointment on several fronts – the company missed revenue guidance for FY23 hit by “unplanned project ramp downs and decision-making delays by some clients”, the company said.

    With global macroeconomic uncertainties looming, it has given a subdued 4-7 per cent revenue growth forecast for FY24, with top management cautioning that “the environment remains uncertain”.

    Infosys had last given single-digit revenue guidance in FY19.

    India’s second-biggest software services firm posted 7.8 per cent year-on-year growth in consolidated net profit at Rs 6,128 crore for March quarter. But the profit fell 7 per cent when compared to the preceding December quarter.

    The revenue growth in constant currency for FY23 came in at 15.4 per cent, lower than the guidance. Notably, during the Q3 earnings announcement in January this year, Infosys — which competes in the market with Tata Consultancy Services (TCS), Wipro and other IT firms — had raised FY23 revenue guidance to 16-16.5 per cent (against the previously projected band of 15-16 per cent).

    Infosys’ Q4 year-on-year-growth was 8.8 per cent and the sequential decline was 3.2 per cent in constant currency terms.

    Revenue rose 16 per cent year-on-year in the fourth quarter of FY23 to Rs 37,441 crore but represented a decline of 2.3 per cent when compared to December 2022 quarter.

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    ( With inputs from www.siasat.com )

  • The rise and fall of Atiq Ahmed

    The rise and fall of Atiq Ahmed

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    Lucknow: He was born in 1962 in a family with a modest background. His father drove a tonga for a living.

    His rise in life was as dramatic as his end and the story of the rise and fall of Atiq Ahmed provides a perfect recipe for a Bollywood thriller.

    Atiq, according to sources, detested poverty and after he failed in the high school examinations, he decided to tackle poverty in his own way.

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    He began by stealing coal from trains and selling it to make money. He soon moved to intimidating contractors to bag government tenders for railway scrap metal.

    In 1979, Atiq, just 17 then, was accused of murder in Allahabad, now Prayagraj.

    Soon, he was running a network of several gangsters in the state. His clout gradually spread to adjoining areas, including Phulpur and Kaushambhi.

    In 1989, when his biggest rival, Shaukat Ilahi, was killed in a police encounter, Atiq became the undisputed king of the underworld.

    The same year, Atiq, fought his first election from the Allahabad West Assembly seat as an independent candidate and won.

    In fact, he won this seat five consecutive times from 1989 to 2002 — the first three times as an Independent, then as a Samajwadi Party contestant and finally as the Apna Dal nominee.

    A year after he won as the Apna Dal candidate, Atiq went back to the Samajwadi Party and won the Phulpur Lok Sabha seat in 2004.

    He had to vacate his Allahabad West Assembly segment that triggered a chain of events leading to Raju Pal’s murder, a sensational crime in which Umesh Pal — killed on February 24 — was the main witness.

    Atiq was arrested in 2005 for Raju Pal’s murder and got bail three years later.

    However, in or out of jail, Atiq maintained his sway over Uttar Pradesh’s underworld and ensured his men were protected.

    In 2007, when he was still in jail, Atiq was accused of shielding his men allegedly involved in the gang-rape of some madrasa students.

    This triggered an outrage and the Samajwadi Party expelled him.

    This was around the time when BSP chief Mayawati returned to power in UP. The police mounted pressure on Atiq and his brother. They surrendered in 2008 and were jailed.

    When the Indo-US civil nuclear deal threatened the Manmohan Singh government that faced a no-confidence motion in Parliament in 2008, the UPA crisis managers turned to a few MPs lodged in jail on serious charges.

    Atiq was among them who came out to vote on furlough and saved the day for the UPA and returned to his barracks.

    Atiq also lost the 2009 parliamentary polls as an Apna Dal nominee from Pratapgarh.

    But electoral defeats did not mean his clout had diminished.

    In the 2012 UP Assembly election, when Mayawati was the incumbent chief minister, Atiq filed his nomination papers from jail. He approached the Allahabad High Court seeking bail to campaign. There were recusals galore.

    Ten judges refused to hear his bail application. The 11th heard it and Atiq came out. However, he lost the election to Puja Pal, the wife of the slain Raju Pal.

    Atiq was released in 2013, a year after the Samajwadi Party came to power in UP. He fought the 2014 Lok Sabha election from Shravasti as a Samajwadi Party candidate but lost again.

    In December 2016, Atiq — known for his short temper — and his men attacked employees of a Christian minority institution for barring two students from taking their tests after they were caught cheating.

    The violence was caught on camera.

    In January 2017, when Akhilesh Yadav snatched the Samajwadi Party’s control from his father, Mulayam Singh Yadav, Atiq fell out of favour.

    Akhilesh wanted to keep a distance from criminals-turned -politicians.

    The Allahabad High Court also came down heavily on the UP Police for not arresting Atiq. Akhilesh needed the judicial push. The arrest happened and Atiq has been in jail since then.

    In March 2017, when Yogi Adityanath became the UP chief minister in the BJP government, he promised to demolish the ’empires of criminals’.

    Atiq was moved from Allahabad, his stronghold, to Deoria jail in the state.

    In Deoria jail, Atiq ran his empire and got a businessman Mohit Jaiswal kidnapped and brought to jail. He was made to sign some property papers and also thrashed brutally.

    Atiq was then moved to Bareilly jail. The jail superintendent was nervous and did not want to keep him there.

    In April 2019, the Yogi government shifted Atiq to Naini prison in Prayagraj amid a tighter clampdown.

    By this time, the Supreme Court delivered its verdict in the Deoria jail case and Sabarmati jail in Gujarat was the new address of Atiq Ahmed.

    Atiq Ahmed faced over 100 cases against him, including those of extortion, kidnapping and murder but his first conviction came last month in the kidnapping of Umesh Pal, a witness in the murder of Raju Pal.

    Ironically, the conviction came a month after Umesh Pal had been murdered.

    Atiq Ahmed has had a symbiotic relationship between crime and politics but was known more for crime than his politics.

    He deftly used politics to save and expand his underworld empire.

    Since his stay in jail was getting longer, Atiq got his wife, Shaista Parveen, to join the BSP but as luck would have it, she was denied a ticket in the upcoming mayoral polls because of her being named as an accused in the Umesh Pal murder case.

    That his sons were following in his footsteps was evident from their present addresses.

    Umar, the eldest son of Atiq, is presently in jail on charges of extorting, assaulting and kidnapping a Lucknow-based businessman named Mohit Jaiswal in 2018.

    In August last year, Umar surrendered before the CBI. He is presently in a jail in Lucknow.

    His second son Ali is also in prison. A case of attempt to murder was filed against him. He recently got bail from the Allahabad High Court in that case. However, there is another case of extortion against him. He is lodged in Naini Jail in Prayagraj for demanding Rs 5 crore from a property dealer in the city.

    Asad, the third son, was killed in an encounter last week and the two minor sons of Atiq are lodged in a juvenile shelter home.

    When Atiq and his brother Ashraf were shot dead by three youths in the hospital premises on Saturday night, many had an inkling of the incident.

    Atiq himself had apprehended that he would be killed in UP but that it would happen within 72 hours of his son Asad being killed, was something he had not expected.

    But then, a bloody beginning always has a bloody ending.

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    ( With inputs from www.siasat.com )

  • MP: 55 fall sick after eating ice cream at an event at religious event

    MP: 55 fall sick after eating ice cream at an event at religious event

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    Khargone: Fifty-five people fell sick, two of them critically, due to food poisoning after eating ice cream at a religious function in Madhya Pradesh’s Khargone district, officials said on Thursday.

    Those who took ill included 25 children, they said, adding the ice cream samples have been sent for testing.

    These people ate the ice cream prepared and sold by one Dinesh Kushwaha on Wednesday night during a religious function at a temple in Chhatal village, 14 km from the district headquarters, Khargone’s Chief Medical and Health Officer Dr Daulat Singh Chauhan told PTI.

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    Fifty-five people, including 25 children, were admitted to the district hospital after they complained of colic, vomiting and upset stomach due to food poisoning, he said.

    Two children were brought to the facility in critical condition. Their health condition is stable now, the official said.

    The hospital’s Resident Medical Officer Dr Dilip Septa said 20 children and 10 other people have so far been discharged after treatment.

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    ( With inputs from www.siasat.com )

  • A Club for Growth vice president and former Ron DeSantis staffer is vying for the GOP nomination to take on Tim Kaine next fall.

    A Club for Growth vice president and former Ron DeSantis staffer is vying for the GOP nomination to take on Tim Kaine next fall.

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    ap23093340444940 1
    Scott Parkinson, also an alum of Ron Johnson and Marco Rubio, is the first notable GOP challenger in the Virginia race.

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    #Club #Growthvice #president #RonDeSantis #staffer #vying #GOP #nomination #Tim #Kaine #fall
    ( With inputs from : www.politico.com )

  • Pakistan forex reserves fall to less than a month’s import cover

    Pakistan forex reserves fall to less than a month’s import cover

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    Islamabad: As Pakistan struggles to secure external financing to pull the country out of the economic crisis, foreign exchange reserves held by the State Bank of Pakistan (SBP) reversed their course, snapping their six-week winning streak, media reports said.

    In its weekly bulletin, the SBP said that its foreign exchange reserves have decreased by $354 million to $4.2 billion as of the week ended March 24, which will provide an import cover of less than a month, Geo News reported.

    The net forex reserves held by commercial banks stood at $5.6 billion, $1.3 billion more than the SBP, bringing the total liquid foreign exchange reserves of the country to $9.8 billion, the statement said.

    Pakistan’s $350 billion economy continues to dwindle amid financial woes as the authorities struggle to strike a staff-level agreement with the International Monetary Fund (IMF).

    The Washington-based lender has been in talks with the Pakistani authorities since end-January to resume the $1.1 billion loan tranche held since November last year, part of a $6.5 billion Extended Fund Facility (EFF) agreed upon in 2019.

    The IMF funding is critical for Pakistan to unlock other external financing avenues to avert a default on its obligations.

    An IMF statement said substantial progress has been made in discussions towards policies in recent days and financial assurances are standard in IMF programmes, Geo News reported.

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    ( With inputs from www.siasat.com )