India News
Paytm shares gain nearly 6% after suffering decline for 2 straight days
Paytm shares were trading on the Bombay Stock Exchange (BSE) at Rs 1448.53, up by 6.50 per cent. While on the National Stock Exchange (NSE), Paytm shares were trading 6.72 % higher at the same time.
Paytm’s parent company One97 Communications’ share saw a rise of nearly 6% in early trade on Tuesday, after suffering a decline for 2 straight days. Paytm debuted on IPO on November 18, and since then the company was on a freefall until Monday.
Paytm shares were trading on the Bombay Stock Exchange (BSE) at Rs 1448.53, up by 6.50 per cent. While on the National Stock Exchange (NSE), Paytm shares were trading 6.72 % higher at the same time.
Even after the Paytm shares have gained in the early trade on Tuesday, investors are still sceptical about the company’s share. Because ever since the debut of India’s biggest IPO, the share prices have witnessed an only downfall. Debuted on Rs 2150 in the share market, Paytm’s shares are currently trading at Rs 1448.53, with a high of nearly 6.50% on November 23.
Earlier on Monday, Paytm’s shares continued to lose as the company’s stock fell almost 19% to 1271.25 on the Bombay Stock Exchange (BSE). Which gave Paytm a market cap of Rs 88,184.67 crore, compared to its IPO valuation of almost Rs 1.50 lakh crore. Paytm’s CEO Vijay Shekhar Sharma lost as much as Rs 50,000 crore in a single day Monday, including Sunday too.
Incorporated in 2000, One97 Communications is India’s leading digital ecosystem for consumers and merchants.
Read Also: Petrol, diesel price November 23: fuel rates remain unchanged, check rates across major cities
The company sought a valuation of $20 billion through the public offer which is more than that of several Indian blue-chip companies. Paytm had fixed its IPO in a price band of Rs 2,080-2,150 per share.
Paytm was founded by Vijay Shekhar Sharma back in 2010. Initially, the platform offered the feature to only recharge other mobile devices. Thereafter, the company got listed as a quick payment method by Uber, which boosted the growth of the company. During the demonization in 2016, Paytm emerged as the digital form of currency, which boosted the growth of the company.
India News
Cauvery water dispute: Karnataka to move Supreme Court challenging panel’s direction to release water to Tamil Nadu, says CM Siddaramaiah
The Cauvery Water Regulation Committee’s panel directed Karnataka to release water at the rate of 3000 cubic feet per second (cusecs) to Tamil Nadu from September 28 to October 15.
Karnataka Chief Minister Siddaramaiah on Wednesday affirmed that his government will approach the Supreme Court challenging the Cauvery Water Regulation Committee’s order to the state to release water to Tamil Nadu.
On Tuesday night, the Cauvery Water Regulation Committee’s panel directed Karnataka to release water at the rate of 3000 cubic feet per second (cusecs) to its neigbouring state, Tamil Nadu from September 28 to October 15.
The conflict between the two states broke out when the Cauvery Water Management Authority (CWMA) order directed Karnataka to continue releasing 5000 cusecs of water to Tamil Nadu for another 15 days. Following the order, top Congress leaders of Karnataka maintained that there is no surplus water available to be released.
Speaking on the matter, the Karnataka Chief Minister noted that he had spoken to the state’s legal team, which suggested that the matter should be challenged in the Supreme Court. He added that they have decided to challenge the order of the Regulation Committee before the apex court, adding that they don’t have water to give.
Meanwhile on Tuesday, Deputy Chief Minister D K Shivakumar had expressed satisfaction over CWRC rejecting the request of Tamil Nadu, which demanded Karnataka to release 12,000 cusecs.
As per reports, Karnataka submitted before CWRC at its meeting in New Delhi on Tuesday the shortfall in cumulative inflows to its four reservoirs in the Cauvery basin up to September 25, that hold just 53.04 per cent of their capacity.
According to Karnataka officials, owing to the failure of the south-west monsoon from June to September this year, there is no adequate storage in the four reservoirs and the state is witnessing a grave situation, where it is even difficult to cater to the drinking water requirements, let alone supplying for irrigation. Notably, this year in August and September, Karnataka received the lowest amount of rainfall in the last 123 years.
India News
Anantnag: 8 labourers injured in load carrier vehicle explosion at Larkipora, investigation underway
Kashmir Zone Police asserted that an explosion occurred in the cement mix settling vibration machine, adjacent portable generator and tin can of oil being carried at Larkipora, Anantnag.
In a tragic incident, eight people were injured in an explosion in Jammu and Kashmir’s Anantnag district on Wednesday. The blast took place in the early morning near a local market, causing panic among the residents.
The police officials affirmed that the blast occurred in a load carrier vehicle carrying a concrete vibration machine, a portable generator and a can of oil. However, the officials ruled out any terror angle.
Taking to X, formerly Twitter, Kashmir Zone Police asserted that an explosion occurred in the cement mix settling vibration machine, adjacent portable generator and tin can of oil being carried at Larkipora, Anantnag.
The police added that eight labourers sustained burn injuries and they are undergoing treatment at Government Medical College and Association hospital in Anantnag. According to the police official no terrorist angle was observed and investigations are being carried out.
Earlier on 13 September 2023, an encounter took place between Indian security forces and militants in the Anantnag district of Jammu and Kashmir. The week-long encounter in the Gadol forest concluded on 19 September. During the encounter, 4 security forces personnel Colonel Manpreet Singh, commanding officer, 19 Rashtriya Rifles, Major Ashish Dhonchak and deputy superintendent of Jammu and Kashmir Police Humayun Bhatwere lost their lives
As far as reports are concerned, the encounter commenced when a joint operation was undertaken by Indian Army and Jammu and Kashmir Police in the early hours of September 13, 2023, following inputs about a militant hideout. However, the militants appeared to have expected the action and opened fire on the security forces.
The operation involved the deployment of drone surveillance and the initiation of a search operation that was aimed at capturing the militants involved. The militant group, The Resistance Front has claimed responsibility for the encounter. The militant group evolved following the abrogation of Article 370 in Jammu and Kashmir.
India News
BJP MP Maneka Gandhi says ISKCON group biggest cheat, sells cows to butchers, temple authority responds
Cow and bull protection and care have been at the forefront of ISKCON’s efforts, not just in India but across the globe. Contrary to the allegations, the cows and bulls are not sold to butchers but are raised for their lifespan, the ISKCON temple spokesperson said.
Bhartiya Janta Party MP Maneka Gandhi made controversial remarks against the International Society for Krishna Consciousness (ISKCON) temple. Maneka Gandhi said ISKCON is the biggest cheat in the country, it sells cows from its cowsheds to butchers.
After her scathing attack on the religious body, the temple authority refuted all the allegations made by the BJP MP and issued a letter stating unsubstantiated and false claims.
The national spokesperson of the ISKCON temple Yudhistir Govinda Das took to X, formerly Twitter and said response to the unsubstantiated and false statements of Maneka Gandhi.
Cow and bull protection and care have been at the forefront of ISKCON’s efforts, not just in India but across the globe. Contrary to the allegations, the cows and bulls are not sold to butchers but are raised for their lifespan, the ISKCON temple spokesperson said.
Gandhi has also served as union minister and she is an animal rights activist. Gandhi has been quite vocal over the issues related to animal welfare.
A video of her, which is viral now, says ISKCON is the biggest cheat and it maintains cowsheds. The temple body also takes benefits and vast lands from the government.
In the video, Gandhi also talked about her visit to Anantpur Gaushala in Andhra Pradesh and claimed she could not find any cow that does not give milk or calves there. She further said that no dry cow (a cow which has not been milked for some time) was there in the entire dairy and not a single calf was there. She claimed it meant all were sold.
ISKCON is selling all its cows to the butchers. No one else does this as much as they do. And they go on and sing ‘Hare Ram Hare Krishna’ on the roads, she said. Then they say their entire life is dependent on milk. Probably, no one has sold as many cattle to the butchers as they did, the BJP MP Gandhi alleges in a video.
ISKCON has pioneered cow protection in many parts of the world where beef is a staple diet, according to an ISKCON statement. Gandhi is a well-known animal rights activist and well-wisher of ISKCON hence we are surprised by these statements, the statement issued by ISKCON’s body reads.
