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Grow Mudra Selects: Top stories this morning

26 May , 2024   By : Debdeep Gupta

Grow Mudra Selects: Top stories this morning

Cyclone Remal to reach Bengal today: How cyclonic storms get their names

Cyclone Remal -- formed over the north Bay of Bengal -- has intensified into a severe cyclonic storm and is expected to make landfall between West Bengal's Sagar Island and Bangladesh's Khepupara on Sunday night, the IMD said on Sunday morning. The cyclone is likely to intensify further and cross the West Bengal and adjoining Bangladesh coasts with wind speeds of 110 to 120 kilometers per hour (Kmph), gusting to 135 Kmph around midnight.

Broader indices underperform but 31 stocks give double-digit return

In a highly volatile week, the broader indices underperformed the main indices with Sensex and Nifty hitting fresh milestones with buying across the sectors and ease in FIIs selling. This week, the Nifty50 index rose 455.1 points or 2.02 percent to close at 22,957.10 after hitting a new high of 23,026.40, while BSE Sensex also touched a fresh high of 75,636.5 and finished 1,404.45 points (1.90 percent) higher at 75,410.39. Among the broader indices, the BSE Small-cap index ended on a flat note, the Mid-cap index rose 1 percent and the Large-cap index added 2 percent.

Rajkot game zone fire: SIT holds meeting; DNA samples collected for identification of victims

Members of the Special Investigation Team (SIT) held a meeting with local administration in Gujarat's Rajkot city in the wee hours of Sunday in connection with the fire at a game zone fire here that left 27 persons dead and three injured. The bodies were charred beyond recognition. The DNA samples of the bodies and the victim's relatives have been collected for identification of the deceased, they said. Chief Minister Bhupendra Patel visited the incident site at Nana-Mava road on Sunday morning and a hospital where the injured persons were admitted. 

IOC, GAIL, and ONGC were fined for the fourth straight quarter for failure to appoint directors

State-owned oil and gas giants including India, ONGC, and GAIL (India) Ltd have been slapped with fines for the fourth straight quarter for failing to meet listing requirements of having the requisite number of directors on their board. Stock exchanges imposed a cumulative fine of Rs 34 lakh on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the January-March quarter, stock exchange filings showed. 

Seven newborns die in Delhi hospital fire, CM orders probe

A massive fire broke out at New Born Baby Care Hospital in Delhi's Vivek Vihar area on Saturday night, resulting in the death of seven infants and leaving several others injured. The incident occurred late at night, prompting a swift response from the Delhi Fire Services, who dispatched nine fire tenders to the scene upon receiving the call at 11:32 pm. The Delhi Police has filed an FIR against Naveen Chinchi, the Baby Care New Born Hospital proprietor, under IPC sections 336, 304A, and 34. Investigations are underway to determine if the hospital possessed a fire NOC. The owner of the hospital is reportedly absconding.

GoAir faces liquidation as Nishant Pitti withdraws revival bid

GoAir, which ceased operations in May last year, may now head for liquidation as Nishant Pitti, a key bidder to revive it under insolvency laws, withdrew on Saturday. The curtains were expected for the erstwhile Wadia Group airline after the Delhi High Court allowed lessors of Go’s 54 aircraft to repossess them last month. The Centre could now distribute Go’s slots and foreign bilateral rights to other airlines like Air India Group, IndiGo, and Akasa, which are snowballing, after getting the legal nod. Akasa, for instance, did not receive any bilaterals for Dubai—the biggest destination for Indian globetrotters—as the flying rights have been exhausted. Once Go’s bilaterals are given out to others, that will mean more flights—and, hopefully, slightly lower fares—on constrained routes with passengers suffering from under-capacity amid demand surge.

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