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Most markets in Asia are in business with a bounce in the morning.
The Indian stock market closed in the red mark with a fall on 12 May, the last trading day. The benchmark indices BSE Sensex and NSE Nifty were broken about 1% between Volatility. The market closed down 0.65% on 11 May as well. After the fall, the Sensex has now reached 48,700 while the Nifty 50 index has reached close to 14,700.
Quarterly results, cues from foreign markets, the position of Kovid and the purchase of foreign investors will have an impact on the market. Investors will also keep an eye on technical charts.
Most markets in Asia are in business with a bounce in the morning. Markets in Japan, South Korea, China, Hong Kong and Taiwan are trading in the green mark.
The S&P 500 and the Dow Jones Industrial Average (DJIA) index of the US were up around 1.25% in trading on the previous day.
Singapore’s SGX Nifty index, which gave the initial signal for the Indian market, is trading at 14,679.0 with a gain of 1.18% at 7:00 am.
According to Moneycontrol, there are 14,622.8 and 14,549.1 support levels for the Nifty on May 14, which may break the index after going down. Similarly, 14,797.1 and 14,897.7 are resistance levels, due to which the Nifty can get a jump by reaching the top.
On May 12, 1260 crore shares were sold by foreign institutional investors (FII). In contrast, domestic institutional investors (DII) sold stocks worth 704 crores.
On May 12, in the bulk deal, the Scientific Associate Stock Option bought 6 lakh shares of Sayant at the rate of Rs 770. In another deal, Asset Reconstruction Company (India) sold about 9 lakh shares of Shakti Sugar at a rate of Rs 16.2.
UPL: Net profit of the company increased from 784 crores to 1361 crores in the March quarter as compared to the same quarter of the previous year. Revenue has come down from 11,141 crore to 12,796 crore.
Jindal Steel and Power: Net profit of the company increased from Rs 305 crore to Rs 2139 crore in the year-on-year quarter. Revenue has also come down from 6795 crores to 11880 crores.
Apollo Tires: The company’s net profit (QoQ) decreased by 35% to 287.2 crore in the last quarter compared to the September quarter. Revenue has come down by 3% to 5025 crore.
Pidilite Industries: Net profit quarter on quarter (QoQ) of the company fell by 31% to Rs 306 crore in the March quarter. Revenue stood at 2235 crores, down 3%.
Royal Enfield: Due to growing Kovid cases at Chennai manufacturing plant, there will be no production for 4 days. Some other manufacturing units will also be closed from May 13 to 16.
Last day of the week Larsen & Toubro, Dr. Reddy Labs, Cipla, Aditya Birla Capital, Macrotech Developers, Balkrishna Industries, BCPL Cholamandalam Financial Holdings, Escorts, HIL, Indigo Paints, Jindal Stainless, Just Dial, Karthik Investments Trust, Oberoi Realty, Reliance Infrastructure, Rossari Biotech, Welspun India, etc. will announce their January-March quarterly results. The results can have an impact on the share prices of these companies.
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In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…
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