The Indian benchmark indices ended flat on Monday as the stock markets turned to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits. 

The Sensex closed at 79,960.38 points, or 36.2 points down while the Nifty closed at 24,320, just 3.3 points down.

Top Nifty gainers were ONGC, ITC, HDFC Life, HUL and Tata Consumer Products, while losers were Divis Labs, Titan Company, BPCL, and Shriram Finance.

The BSE midcap and smallcap indices ended marginally lower.

According to market watchers, the earnings season is around the corner, and the initial expectation is subdued. With stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.

The rupee ended flat at 83.50 per dollar on Monday compared to Friday’s close of 83.49.

According to Aditya Gaggar, Director of Progressive Shares, among the sectors, FMCG and energy were the top performers while PSU banks and metal were the major laggards.

“The Railway segment was the star performer of the day as almost all the counters surged over 5-6 per cent,” he said.

According to analysts, as the market trades near all-time high levels, investors and traders can consider maintaining their positions with appropriate stop-loss orders.

“The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market’s direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls,” said Rupak De from LKP Securities. AGENCIES

 Benchmark equity indices on Monday snapped their three-day winning streak and traded flat in the morning hours.

At pre-open, Nifty was flat at 24329.45 and the Sensex was lower by 0.1 per cent at 79915.00.

Shares of Titan Co fell nearly 4 per cent after it reported subdued growth in the sales of its jewellery segment.

Except capital goods, FMCG and all other sectoral indices traded in the red.

Shares of ICICI Bank, HDFC Bank, Infosys and State Bank of India dragged the Nifty.

Tata Motors, Hindustan Unilever, ITC, Bharti Airtel and Oil & Natural Gas Corp cushioned the fall.

According to market watchers, as the market trades near all-time high levels, investors and traders can consider maintaining their positions with appropriate stop-loss orders.

Positive news flows can impart resilience to the market in the near term, according to them.

“The market will respond to the Q1 results which will start flowing from this week onwards. Financials have the potential to move up further in response to the expected good results,” analysts added.

BSE Midcap and Smallcap indices were marginally higher in the opening trade. AGENCIES

 The global wholesales of Tata Motors Group, including Jaguar Land Rover, reached 3,29,847 vehicles in the April-June quarter of the current fiscal (FY25), up 2 per cent compared to Q1 FY24, the company said on Monday.

Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Q1 FY25 were at 93,410, higher by 6 per cent over Q1 FY24.

The company recorded global wholesales of passenger vehicles (including electric vehicles) at 138,682, lower by 1 per cent.

Jaguar Land Rover saw 97,755 vehicles being sold, higher by 5 per cent.

“Jaguar wholesales for the quarter were 8,227 vehicles, while Land Rover wholesales for the quarter were 89,528 vehicles,” according to the company.

Meanwhile, Tata Motors’ sales in the domestic and international market for the first quarter of the current fiscal stood at 229,891 vehicles, compared to 226,245 units during Q1 FY24.

“Tata Motors commercial vehicles domestic sales at 87,615 units in Q1 FY25 were 7 per cent higher than Q1 FY24 sales. Additionally, sales in June were 3 per cent higher compared to May 2024,” said Girish Wagh, Executive Director, Tata Motors Ltd. AGENCIES

 Integrated fund and development management platform Welspun One on Monday said it has raised a second fund worth Rs 2,275 crore, inclusive of co-investment commitments, to strengthen logistics infrastructure in the country.

The funds were raised from a diverse pool of approximately 800 Limited Partners (LPs), including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions.

Combined with ‘Fund 1’, Welspun One’s investor base now comprises approximately 1,000 unique investors, it said in a statement.

Welspun One had raised Rs 500 crore as part of its first fund in early 2021.

“Our commitment to advancing critical logistics infrastructure is in perfect alignment with India’s strategic objective of reducing logistics costs from 14 per cent to 8 per cent, thereby enhancing the global competitiveness of our industries,” said Balkrishan Goenka, Chairman of Welspun World.

Welspun One’s ‘Fund 2’ has already committed nearly 40 per cent of its investible capital across four investments and anticipates committing the remaining capital over the next 3-4 quarters.

The focus is on “new age” warehousing assets, such as urban distribution centres, cold chain, agro logistics, and port and airport-based logistics, said the company.

“Our progress has been remarkable, having successfully established a well-capitalised platform poised to achieve an asset under management (AUM) of over $1 billion,” said Anshul Singhal, Managing Director, Welspun One. AGENCIES

Chandigarh:

Cybercriminals increasingly target unsuspecting citizens through Telegram, exploiting the messaging platform to perpetrate fraud. In one such case, a resident of Hisar, Haryana, fell prey to a sophisticated scam, losing a staggering ₹8,91,000 in a cryptocurrency investment scheme. However, swift action by the Haryana Police led to the arrest of the fraudsters, preventing further victims.

Modus Operandi: A Web of Deceit

The victim, Bajrang, was lured into the scam through a Telegram channel promising high returns on cryptocurrency investments. Once hooked, the fraudsters, operating under the alias “CAPTAIN AMERICA,” guided Bajrang to transfer funds into bogus bank accounts. These accounts were procured by an accomplice, Sahil, a bank employee, who sold them to the fraudsters for ₹25,000 each.

Unraveling the Scam: A Collaborative Effort

When Bajrang realized he had been scammed, he immediately reported the incident to the Cyber Helpline (1930). Recognizing the urgency, the state’s Cyber Chief, ADGP OP Singh, promptly directed the Cyber Nodal Thana to investigate the matter.

A joint team comprising the State Nodal Cyber Thana and the Haryana Cyber Crime Coordination Centre (HC4) began meticulously tracing the fraudulent transactions. Their efforts led to the arrest of three individuals:

Chirag, son of Ved, resident of Hisar: The primary perpetrator who received the funds from Bajrang.

Sahil, son of Satish, resident of Hisar: The bank employee who sold the bogus accounts.

Mohit, son of Mohan, resident of Fazilka, Punjab: The accomplice who connected with “CAPTAIN AMERICA” and facilitated the scam.

Preventive Measures: Vigilance is Key

ADGP OP Singh urges caution, emphasizing that greed often fuels such cyber frauds. He advises against joining unknown Telegram groups or investing based on mere promises of high returns. Before investing, individuals should thoroughly research and verify the legitimacy of the platform or scheme.

Reporting Cyber Frauds: Seek Timely Assistance

If you suspect you have fallen victim to a cyber fraud, do not hesitate to report it immediately. The Cyber Helpline (1930) is available 24/7 to assist you. Timely action can help minimize losses and bring perpetrators to justice.

Chandigarh:

Rajeev Verma, IAS, Adviser to the Administrator, UT Chandigarh, inaugurated the ‘Paudh Mela’ at the Lake Sports Complex parking area today. The event, which aims to promote greenery and environmental sustainability, saw a large turnout of enthusiastic citizens. The Adviser visited various stalls at the Mela, which featured free distribution stalls by the Department of Forest and Wildlife, Engineering Department, and the Municipal Corporation.

Additionally, stalls from Self-Help Groups (SHGs), NGOs, schools, and colleges showcased a wide variety of products and information, including compost and composting techniques, herbal seeds, bamboo products, kitchen waste composting, organic farming and gardening, bioenzymes, and more. In his address, Shri Verma emphasized the importance of the ‘Ek Ped Maa Ke Naam’ campaign, urging everyone to plant at least one tree during the monsoon season. As part of the event, saplings were distributed to the public, encouraging community participation in environmental conservation.

The Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) showcased various information and documents related to the PM Surya Ghar Muft Bijali Yozna at their stall, promoting the scheme and raising awareness about the government’s initiative to provide free electricity through solar power.

During the event, prizes were distributed to students for their outstanding performance in events organized by the Forest Department on the occasion of World Biodiversity Day. The Paudh Mela will be held for two days, from 6th July to 7th July 2024, from 9:00 AM to 6:00 PM. Saplings will be distributed free of cost by the Forest Department, Engineering Department (Horticulture), and the Municipal Corporation (Horticulture). In addition to the mela, saplings will also be distributed through vehicles in different sectors of the city. The function was  attended by Shri Rupesh Kumar, IAS , Shri Navneet Kumar Srivastava, IFS, Shri C.B. Ojha, Chief Engineer, UT Chandigarh, along with other officers of the Chandigarh Administration Governor of Punjab and Administrator  UT Chandigarh Sh. Banwarilal Purohit also planted a sapling of “Rudraksha” at Punjab Raj Bhavan in memory of his mother under the ‘एक पेड़ माँ के नाम’ campaign.

Chandigarh

A team from the Haryana Anti-Corruption Bureau has arrested two private individuals in Faridabad on charges of soliciting a bribe. The accused allegedly demanded ₹200,000 in exchange for securing a job at ESIC Hospital.

In this case, Rakesh was apprehended while accepting ₹180,000 in bribe money, while another accused, Hakim, was found in possession of ₹120,000. The Anti-Corruption Bureau has filed an FIR at the Faridabad police station against the accused individuals.

According to a government spokesperson, the Anti-Corruption Bureau received a complaint regarding the demand for a bribe from Rakesh, who was allegedly facilitating a job as a sanitation worker at ESIC Hospital in exchange for money. The complainant had already paid ₹20,000 to Rakesh prior to his arrest.

Following an investigation by the ACB, a plan was devised to apprehend the accused, resulting in the arrest of Rakesh while he was accepting the bribe. During the investigation, another private individual, Hakim, was also found involved, leading to the recovery of ₹120,000 from his possession. The entire operation was conducted with full transparency before witnesses.

A spokesperson for the bureau appealed to the public, urging anyone who encounters demands for bribes in exchange for government work to immediately report such incidents to the Haryana Anti-Corruption Bureau’s toll-free number at 1800-180-2022 or dial 1064.

Chandigarh:

Haryana Chief Minister Nayab Singh stated that the land bank created from voluntarily offered land on the e-Bhoomi portal will help in the completion of projects soon. This unique initiative started by the state government is the first experiment in the country towards accumulating land for government schemes.

        The Chief Minister chaired a meeting of the High-Powered Land Purchase Committee today. Minister of State for Urban Local Bodies, Sh. Subhash Sudha and Minister of State for Environment, Forest & Wildlife Sh. Sanjay Singh were also present in the meeting.

        Chief Minister Sh. Nayab Singh stated that some people generously donate land for welfare projects. He praised Sh. Ramehar from Baroli village in Jind district for offering 2.8 acres of land to the Public Health Engineering Department for a JalGhar, setting an example for the society.

        During the meeting, discussions were held on the  land offered  as per the fixed rates on the e-Bhoomi portal in the districts of Ambala, Bhiwani, Hisar, Karnal, Kurukshetra, Sirsa, and Sonipat.

        The Chief Minister also spoke with the landowners via video conferencing. Apart from the land identified for drainage of water from the pump house in Ambala district, he discussed in detail the land offered on the e-Bhoomi portal for the ROB service road in Adampur to Daroli Road in Hisar district, construction of a new road from Jind-Barwala Road to Rakhigarhi Museum in Hisar district and a new bypass in Kosli town of Rewari district.

        He directed the Deputy Commissioners of the concerned districts to finalise these agendas.

        Chief Minister Sh. Nayab Singh directed the officers to inspect the land offered on the e-Bhoomi portal and to ensure its suitability for projects. He emphasised that no forest areas should be harmed when starting any project and If necessary then ensure that new trees must be planted as per the regulations.

        Chief Secretary, Sh. T.V.S.N. Prasad, Additional Chief Secretary, Finance and Planning, Sh. Anurag Rastogi, Additional Chief Secretary, Public Health Engineering, Sh. A.K. Singh, Additional Chief Secretary, Town and Planning, Sh. Arun Kumar Gupta, Commissioner, Urban Local Bodies Department, Sh. Vikas Gupta besides other senior officers remained present in the meeting, and Deputy Commissioners of various districts were also connected through video conferencing.

Chandigarh:

Chaudhary Charan Singh Haryana Agricultural University and Massey University, New Zealand will jointly do research on the impact of climate change on Moringa (drumstick).

        Vice Chancellor, Prof. B.R. Kamboj said that research will be conducted on the effect of climate change and weather changes on the tannins and antioxidant properties in the seeds and leaves of Moringa. For this, samples of Moringa will be taken from various places of the Himalayan region, Uttrakhand and the southern region. Two teams have been formed by HAU for the research. In which PI Dr. Jayanti Tokas and Co-PI Dr. Akshay Bhukar from the university, PI Dr. Craig McGill and Co-PI Dr. Penny Back from the New Zealand University have been included in the team.

        He said that Moringa is also known as Drumstick. Moringa leaves are a great source of protein and also contain all the important amino acids. Its leaves are mainly rich in calcium, potassium, phosphorus, iron and vitamins A, D, and C. Moringa leaves are used to increase energy in the body as well as in the treatment of various diseases including diabetes, the immune system, bones and liver.