Amc sells 11 million shares

Shares of Maruti Suzuki India (MSIL), India’s largest passenger vehicle maker, rallied Rs 8,319.80 in intraday trade before closing 6.33 per cent higher at Rs 8,274.6 on the BSE in the previous session. This is the highest level seen since February 28 this year. The stock has surged 25 per cent from its 52-week low of Rs 6,540 touched in March this year. Auto shares surged on Thursday as the recent decline in global commodities, including metals, prompted investors to lap up some of the battered names. The BSE Auto index jumped 4.4 per cent emerging as the top sector gainer on Thursday. MSIL’s profitability has been adversely impacted in the last three years by weak product lifecycle, unprecedented commodity cost inflation in base commodities and precious metals, and multiple headwinds to volumes, resulting in an operating deleverage. This has resulted in a sharp erosion in its gross margin (~610bp) and Ebit margin (~570bp) over FY19–FY22. However, stable commodity cost … [Read more...] about Maruti Suzuki Hits 3-Month High on Better Margin Hopes; Should you Buy, Sell or Hold?

The caskets were rolled in one by one, lined up in front of friends and family who had no idea the 11 Haitian girls and women they were preparing to bury had decided to flee their country. They were teenagers, mothers, students, university graduates, all aboard a grossly overloaded boat that capsized last month in the open waters northwest of Puerto Rico. It was one of the deadliest voyages in the region in recent months. The boat was carrying an estimated 60 to 75 migrants, of which 11 were found dead, at least a dozen are still missing and 38 were rescued — 36 of them Haitians fleeing a deeply unstable country fighting a surge in poverty and violence. Mourners held aloft their phones at the church and rainy cemetery Wednesday as they live streamed the Mass and burials on social media. They zoomed in on certain caskets for families back in Haiti who couldn’t afford to fly to Puerto Rico and for Haitian migrants living illegally on the U.S. mainland who feared being … [Read more...] about Haiti mourns 11 women from fatal voyage near Puerto Rico

A suspected drug dealer in Orange County, California, has been charged with possessing enough fentanyl that could kill up to “12 million people,” according to the county District Attorney’s office. “Alfonso Gomez-Santana, 60, of Fullerton has been charged with one felony count of sale or transport of a controlled substance and two felony counts of possession of sale with intent to sell,” per the District Attorney’s office press release on Friday. California Highway Patrol Officers arrested Gomez-Santana on Wednesday in Fullerton near South Lemon Street and Orangethorpe Avenue and found more than four kilos of fentanyl while searching his vehicle. When officers went to go search the suspect’s home, they discovered “20 more kilos of fentanyl, $250,000 in fentanyl pills, and 122 grams of methamphetamine.” Despite being found with “enough fentanyl to kill 12 million people,” the suspected drug dealer only faces up to six years and eight months in prison if he is convicted on … [Read more...] about DA: CA Man Charged With Fentanyl Possession, Enough ‘to Kill 12 Million’

Greaves Electric Mobility Pvt. Ltd, (GEM) a subsidiary of Greaves Cotton Ltd., has allotted 35.80% shares to diversified global investor Abdul Latif Jameel for his $150 million capital infusion into the company. GEM completed the formalities by allotting 68,35,450 equity shares of ₹10 each by way of preferential allotment through private placement basis for a total consideration of ₹1,171 crore. The proceeds will be used to develop new products, associated technologies and brand awareness, aiming to transform the company into a leading global EV manufacturer, Greaves Cotton said in a statement. Following the allotment, GEM continues to be a subsidiary of Greaves Cotton and its shareholding stands 61.38%. On June 2, GEM had announced that Mr. Jameel has committed to invest up to $220-million. As part of the deal, Mr. Jameel will initially infuse $150-million for a 35.8% stake in the company, making him the second-largest shareholder in the company. GEM manufactures electric … [Read more...] about Greaves Electric Mobility allots 35.80% stake to global investor Jameel for his $150 million capital infusion

An anti-terrorism court in Pakistan has awarded over 15 years jail term in a terror-financing case to a main handler of deadly 2008 Mumbai attacks . “An anti-terrorism court in Lahore early this month had handed down over 15 years jail term to Sajid Majeed Mir, an activist of banned Lashkar-e-Taiba (LeT), on a terror-financing case,” a senior lawyer associated with terror financing cases of LeT and Jamaat-ud-Dawa leaders told PTI on Friday. The Counter Terrorism Department (CTD) of the Punjab Police, which often issues conviction of the suspects in such cases to the media, did not notify Mir’s conviction in a terror financing case. Besides, since it was an in-camera proceeding at jail, the media was not allowed. The lawyer further said convict Mir, who is in mid-40s, has been in the Kot Lakhpat jail since his arrest in this April. He said the court also imposed a fine of over Rs. 400,000 to the convict. Earlier, it was assumed that Mir was dead. Before the last meeting … [Read more...] about Mumbai terror attack handler jailed for 15 years in Pakistan

A U.N. special envoy warned Thursday that Haiti’s police force needs immediate help to fight crime and violence, noting that gangs have grown so powerful they recently seized control of a local courthouse. Helen La Lime, the top U.N. official in Haiti, said insecurity is rapidly deteriorating in the country of more than 11 million people, with an average of almost seven kidnappings reported every day. In May alone, she said more than 200 killings and 198 abductions were reported. Those kidnappings included two busloads of children and three U.N. personnel and their dependents, with one local staff member killed in a crossfire between gangs, according to a U.N. Security Council report. “The pervasive and deepening sense of insecurity, exacerbated by the (Haitian National Police’s) seeming inability to address the situation and the manifest impunity with which criminal acts are being committed, is dangerously fraying the rule of law,” said La Lime, who spoke at a U.N. … [Read more...] about UN: Haiti police need immediate help amid surge in violence

This is a carousel. Use Next and Previous buttons to navigate 6 As a brand, Asian carp have two big problems: The name strikes many as both racially insensitive and decidedly unpalatable -- a trash fish. How about some "copi" instead? In a marketing event Wednesday, Illinois officials announced the focus-group-approved name for the prolific invasive species. With the fresh consumer brand, they are seeking to gut the fish's numbers and reduce the looming ecological threat it poses to the Great Lakes. Soon, they hope, folks will be noshing on copi sliders and cooking up copi tacos, eating into the invader's population. " 'Copi' rose to the top. It's kind of fresh, maybe kind of Mediterranean," Kevin Irons, assistant fisheries chief at the Illinois Department of Natural Resources, said of the two-year name search. "Copi sounded like a fish." That's copi as in copious, which from an environmental perspective is the problem … [Read more...] about Asian carp threaten the Great Lakes. Will calling them ‘copi’ help?

Bharat C. Raval, president of the Indian Salt Manufacturers’ Association (ISMA), started his career as a salt inspector with the Gujarat government. After spending 19 months in the government, he was attracted towards the salt cooperatives initiated by none other than Dr. Verghese Kurien, the ‘Milkman of India’. Kurien trained Mr. Raval at the Sabarmati Salt Farmers’ Society where he joined in April 1988 as a procurement executive. Nearly 35 years later, Mr. Raval feels that the salt industry is facing huge challenges in meeting the demand and in tackling the realisation crisis faced by salt farmers. Initially, the society where Mr. Raval worked produced 30,000 metric tonnes of salt. It reached up to 7,00,000 metric tonnes in three years, by 1991. “We have also operated CSR activities those days by providing health infrastructure support to salt farmers. Farmers were getting ₹ 17/per tonne when we entered the sector and the the price went up in the first years to ₹27 per tonne and … [Read more...] about Crisis in salt sector hits 5 lakh people in Gujarat

Protests continued in cities across the country Saturday after the Supreme Court's decision to overturn the landmark Roe v. Wade ruling that had guaranteed the right to abortion in the United States. As states began to enact abortion bans and clinics stopped offering the procedure, large crowds gathered in cities such as New York, Los Angeles and Atlanta, some jubilant, others dismayed at the decision that stripped away women’s constitutional right to abortion. Both sides predicted the fight over abortion would continue. Key highlights: President Joe Biden called it a “sad day” for the U.S. and said it would be up to voters in November to select candidates who would protect a host of rights — not just abortion but also marriage equality and the right to contraception. Centrist Sens. Joe Manchin, D-W.Va., and Susan Collins, R-Maine, suggested they were misled by Justices Brett Kavanaugh and Neil Gorsuch, two key votes in the decision to overturn Roe. SEE NEW … [Read more...] about Protests and celebrations as Supreme Court overturns Roe v. Wade: Live updates

A mum who discovered her son had been sending "nasty" text messages to a girl in his class has forced him to apologise to her in front of her parents by marching him over to her house. Samm Jane, 32, was left "fuming" when she received a call from her son's school to inform her that he had been bullying one of his classmates over text. When her 12-year-old son came home that afternoon, she made him show her the text messages and was horrified to see he had called his classmate "fat" and "ugly", and soon took him over to the girl's house to have him apologise to her in person. The mum-of-five, from Nuneaton, Warwickshire, is determined to make sure her son learns a lesson from the experience, as she doesn't want to raise boys that "disrespect" women and girls. Samm was furious when she found out what her son had done ( Image: Kennedy News and Media) She wants to make sure her son never disrespects girls ( Image: Kennedy News and Media) Get the … [Read more...] about Mum marches son, 12, to girl’s house to apologise after finding ‘nasty’ texts he sent