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Stock Market Today Live Updates: Sensex inches 300 pts higher, OMC shares rally | Business News


Share Market Today Live Updates: Indian equity benchmark indices opened on a positive note Monday (April 29), tracking healthy global cues. BSE Sensex opened 252.50 points, or 0.34 per cent higher at 73,982.80 while Nifty inched 55.50 points, or 0.25 per cent higher at 22,475.50.

The gains in markets today are supported by financials after post-results gains in SBI Life Insurance and ICICI Bank. The high-weightage financial services index rose 0.7 per cent with 12 of the 13 major sectors logging gains. On the similar lines, Nifty Bank inched 234.50 points, or 0.50 per cent higher at 48,437.20.

The strength in financial stocks arrives after better-than-expected ICICI Bank Q4 results, which has beaten D-Street estimates.

Aided by strong loan growth, ICICI Bank has reported a 17.4 per cent growth in its standalone profit after tax (PAT) at Rs 10,707.53 crore for the March quarter (Q4) of 2024 against Rs 9,121.87 crore in the same period of last year. Total income of the bank rose to Rs 43,597 crore for Q4 as against Rs 42,791.64 crore a year ago. The board has proposed a dividend of Rs 10 per share for the year.

IndusInd Bank, Tech Mahindra, Maruti, Sun Pharma, Reliance Industries and Tata Steel were the other major gainers. On the other hand, HCL Technologies, Mahindra & Mahindra, ITC and Power Grid were the laggards.

The Indian rupee opens five paise weaker at 83.43 against US dollar. On Friday, the rupee had declined 10 paise to close at 83.38 against the US dollar. Dollar index futures, which measures strength of American currency against a basket of six global peers, are up 0.06 per cent at 105.87.

Several analysts have attributed the strengthening US dollar to the positive global trends amid firm growth in the world’s largest economy.

Brent crude futures fell 83 cents, or 0.93 per cent, to $88.67 a barrel while West Texas Intermediate (WTI) futures were down 67 cents, or 0.80 per cent, to $83.18 a barrel.





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US man allegedly kills wife, buys sex doll with her life insurance money: Report



NEW DELHI: On the morning of Halloween in 2019, Colby Trickle, a resident of Hays, Kansas, called 911 to report that his wife, Kristen Trickle, aged 26, had shot herself in their home. Sergeant Brandon Hauptman from the Hays Police Department responded to the call and, after speaking with Colby Trickle and examining the scene, became suspicious of Colby’s involvement in his wife’s death.
However, three days later, the coroner, Dr. Lyle Noordhoek, determined Kristen Trickle’s death to be a suicide, allowing Colby Trickle to continue with his life. Despite this, investigators persisted in their investigation of the case, reported CBS News.
Colby Trickle, a member of the Army Reserve, received payouts from two life insurance policies for his wife, totaling over $120,000. Investigators discovered that he spent nearly $2,000 on a life-size sex doll just two days after receiving the insurance money. Detective Joshua “JB” Burkholder expressed his concern to ’48 Hours’ correspondent Erin Moriarty, saying, “There’s a mourning process that I think everyone needs to go through — should go through when a loved one dies and to have him ordering this type of doll just months after his wife’s death was concerning.”
Delynn Rice, Kristen Trickle’s aunt, was appalled upon learning about the sex doll purchase, telling Moriarty, “I was just appalled that he would use Kristen’s life insurance money for a sex doll. It just was like he bought a replacement of her with her money.” According to Assistant Ellis County Attorney Aaron Cunningham, Colby Trickle spent the entire $120,000 insurance payout within approximately eight months, not only on the life-size sex doll but also on video games, debt repayment, and music equipment to pursue his aspirations of becoming a performer.
Colby Trickle remained free for nearly two years as investigators built a case against him. Sergeant Hauptman shared his observations about Colby Trickle’s behavior immediately after reporting Kristen Trickle’s self-inflicted gunshot wound. Although Colby appeared to be grieving, Hauptman noted unusual aspects of the scene, such as Kristen being found wearing only underwear and the gun seeming too large for her to have used.
Hauptman also mentioned that while it does occur, it is uncommon for women to complete a suicide that results in facial injuries.
Another suspicious detail for the police was Kristen Trickle’s phone alarm, which kept going off at the scene that morning. Burkholder recalled silencing it, stating, “She had set an alarm to get up, to get ready for work, and had plans for that day. A lot of times, individuals who are thinking about suicide and do commit suicide, they don’t have any plans for the day. They’re not setting alarms. It doesn’t matter when they get up.”
Colby Trickle willingly spoke with investigators on multiple occasions without legal representation, sharing detailed accounts of his alleged military intelligence work and deployments to the Middle East and Central America. However, when investigators inquired with the military, they were informed that Colby Trickle had never been deployed overseas or outside the country. These lies, combined with the inconsistencies at the scene, heightened investigators’ suspicions about Colby Trickle’s version of events surrounding Kristen Trickle’s death.
On July 14, 2021, 21 months after Kristen Trickle’s death, Colby Trickle was charged with first-degree murder and interfering with law enforcement. During his trial in September 2023, prosecutors presented evidence of Colby Trickle’s sex doll purchase to the jury.
Tina Kreutzer, Colby Trickle’s mother, testified as a defense witness, claiming that her son was experiencing nightmares and sleep difficulties following his wife’s death and that the doll was intended for warmth and comfort rather than sexual purposes.
Brant Rice, Kristen Trickle’s uncle, expressed his disgust

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Jagan Reddy releases YSRCP manifesto: Pension hike, Vizag as executive capital


Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Saturday released his party’s manifesto for the upcoming Lok Sabha and assembly elections in the state. He promised to hike the welfare pensions from Rs 3,000 to Rs 3,500 per month and make Visakhapatnam or Vizag the executive capital.

Giving an account of the promises fulfilled in the past five years, Reddy said his government deposited Rs 2.68 lakh crore directly into beneficiaries’ accounts through DBT (direct benefit transfer), and Rs 1.78 lakh crore through non-DBT methods.

He said Rs 4,275 crore and Rs 12,609 have been allocated for the Jagananna Vasati Devana and Jagananna Vidya Deevena schemes, respectively.

Reddy said he would also raise the financial outlay for some schemes such as Amma Vodi, which has been hiked from Rs 15,000 per annum to Rs 17,000. Amma Vodi is a financial aid scheme for mothers who send their children to school.

YSR Rythu Bharosa scheme, which benefits farmers, would be hiked from Rs 13,500 to Rs 16,000 per annum, guaranteeing financial assistance of Rs 80,000 over the next five years.

Reddy vowed that Amaravati would be developed as the legislative capital and Kurnool as the judicial capital.

“Immediately after YSRCP forms the government in 2024, Visakhapatnam will be made the executive capital and the seat of the government. It will be developed as the growth engine of the state,” he said.

The chief minister noted that welfare pensions, which are currently at Rs 3,000 per month, will be raised to Rs 3,250 from January 2028 and subsequently to Rs 3,500 from January 2029.

He also promised the creation of special panchayats for Dalits who account for 50 per cent population of a village or 500 households.

MSMEs, which received two incentives in the past five years, will receive them on an annual basis, said Reddy, promising life insurance of Rs 5 lakh to gig workers in organisations such as Swiggy, Zomato, Amazon and others under the YSR Jeevan Bhima scheme.

Further, Reddy promised to complete the Bhogapuram international airport in the next 18 months and assured to finish building the Polavaram Project over the next five years, along with completing the comprehensive resurvey of land, among others.

Delving on jobs, YSRCP chief noted that Group-I, Group-II and other government recruitment examinations would be conducted without fail.

The YSRCP chief insisted that a political party’s manifesto assumed its real meaning only in his government, which treated it as a holy book like the Bible, Quran and Bhagavad Gita.

Other initiatives mentioned in the YSRCP manifesto include the allocation of Rs 2,000 crore in the first phase to develop district headquarters as smart cities by laying roads, building parks, drainage and other necessary amenities.

Reddy asserted that his government fulfilled 99 per cent of the party’s manifesto promises.

“The issues I witnessed during my padayatra were included in our manifesto. Despite the challenges posed by the Covid-19 pandemic and revenue losses that happened thereafter, we never made any excuses and meticulously executed our manifesto with a smile,” he said.

Taking a dig at his predecessor and TDP chief N Chandrababu Naidu, Reddy said the YSRCP did not make “empty promises”.

“We can’t compete with Chandrababu Naidu’s fraudulent promises. But we can show our commitment to the people. This government is different from the previous one. We don’t make empty promises. We deliver and that’s our legacy,” he said.

Reacting to YSRCP’s manifesto, Naidu said if Reddy had treated his 2019 manifesto as a holy book, then he would have banned liquor.

“You promised to ask for votes only after banning liquor but with what face you have released the 2024 manifesto and asking for votes,” Naidu tweeted.

His son and TDP general secretary Nara Lokesh, in a post on X, alleged that if Reddy said something, he would not do it.

Elections for the 175-member Assembly and 25 Lok Sabha seats in Andhra Pradesh are scheduled on May 13 and the counting of votes will be held on June 4.

(with inputs from PTI)

Published By:

Prateek Chakraborty

Published On:

Apr 28, 2024



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The Kotla Factory: In heart of Delhi, a village of sport strugglers | Sport-others News


FOR ANKIT Kumar, 21, a state-ranked hurdler, life is an unending race against time. When not trying to beat his coach’s stop-watch at the Jawaharlal Nehru (JLN) Stadium, he is trying to stick to the ETA while delivering orders for a quick-commerce grocery app.

The son of a welder from Kundli in Haryana, Ankit stays in a windowless room at Kotla Mubarakpur, an urban slum not far from JLN. It’s a space that he shares with four others. Ankit’s roommates and close to 1,000 other athletes at Kotla lead a similar double-life. They fund their track-and-field dreams by working as gig workers — the flexibility and independence of the industry allowing them time to move between two very distinct worlds.

“We try to complete a few orders in the morning before the afternoon sun comes out and we continue later after evening practice. I deliver from 8 pm to 2 am on most days. It affects my post-practice recovery but option kya hai (there’s no choice),” says Ankit.

As they flock to Kotla from villages in states neighbouring Delhi, many of these youngsters exercise that only “option” they have: undertake the journey to Delhi, hoping the Capital will give them a chance to make it in the impossibly competitive world of track and field. Back home, where there are no coaching and training facilities worth talking of, their dreams run into a series of obstacle courses. For instance, the West UP town of Meerut, known as a sports manufacturing hub, doesn’t have a single synthetic track for training. JLN, though poorly maintained, with a patched-up track in the main arena and a practice track that’s not fit for elite training, is still the best option for many of these youngsters. They know that they are on their own until they break into the national level, which is when they can hope for some kind of state support.

Kotla and its thousand dreams

When Ankit came to Delhi in 2018, he knew where to go. On the athletics circuit, he had heard that Kotla Mubarakpur was the ideal place for those wanting to follow in the footsteps of Neeraj Chopra, India’s first-ever Olympic track-and-field gold medallist. It’s Kotla Mubarakpur’s proximity to JLN and its budget spaces, unlike the more upmarket areas of Defence Colony or South Extension nearby, that draw Ankit and hundreds of others like him to the neighbourhood.

The area’s open drains, complex maze of bylanes and the unmissable ‘bad elements’ don’t make Kotla the ideal neighbourhood for those hoping to climb podiums. But as they keep saying around here, “option kya hai?”.

Sonam (centre), a steeplechase national record-holder from a village in Uttar Pradesh’s Bulandshahr district, in her rented room in Kotla Mubarakpur. (Express Photo by Abhinav Saha)

In one such lane lives youth steeplechase national record-holder Sonam. The daughter of a brick kiln labourer from a Dalit settlement in Hurthala village in Bulandshahr district of Uttar Pradesh, Sonam made Kotla her home when she was 15. She is now 19 and has grown used to the place. “Yahan ki mehak hi alag hai, na (This place has a distinct scent doesn’t it)?,” she jokes, embarrassed by the foul smell emanating from the litter outside her room.

While Sonam, with multiple junior national titles, is among the more accomplished athletes, most of the Kotla athletes are still trying to find their feet. A good number of them are state medallists and regularly take part in private running events for prize money. Sonam had to work as a delivery agent until she broke Parul Chaudhary’s decade-old 200m Youth national record at the Khelo India Youth Games last year. She is now part of the Khelo India scholarship, where she receives a monthly stipend of Rs 10,000.

“This is one of the better lanes to live in,” assures Sonam’s coach Sanjeev. He smiles and adds: “Option kya hai?”. Sanjeev speaks for most of the athletes who have made Kotla their home. Their shared sporting dreams have given Delhi’s urban landscape another pocket of aspiration. If North Delhi’s Mukherjee Nagar is where the country’s UPSC aspirants head to and Mandi House attracts theatre artistes, Kotla Mubarakpur has now emerged as a village of sporting strugglers.

The Mukherjee Nagar of sports

Just as coaching classes and photocopy kiosks mushroom around education hubs, auxiliary businesses catering to the athletes fight for space in this densely-populated area. The neighbourhood’s fruit juice shops, kiosks selling boiled eggs, sports apparel outlets and chemist shops are mostly frequented by fit and lean boys and girls.

Naveen Kumar is one such beneficiary of the Kotla-JLN ecosystem. His clothes store, which he has been running for over seven years, supplies “foreign reject” apparel to athletes. Hand-me-down domestic branded clothes also make their way to Naveen’s collection. If bargained right, a T-shirt can be bought for as less as Rs 50. Stores such as these are lifesavers for athletes living on a shoestring budget.

If North Delhi’s Mukherjee Nagar is where the country’s UPSC aspirants head to and Mandi House attracts theatre artistes, Kotla Mubarakpur has now emerged as a village of sporting strugglers. (Express Photo by Abhinav Saha)

“Athletes tell me in advance what kind of apparel they need and I sort it from the pile of clothes that arrive,” Naveen explains.

“I don’t know where they get these clothes from. Once we got a jersey of some school in Australia,” says Sonam’s coach Sanjeev.

Steeplechaser Mohammed Abbas does have issues with Kotla’s poorly ventilated rooms and dingy lanes, but is happy to adjust for the convenience that comes with living in the area.

“You will get everything here and for a reasonable price. There are good food options and they all treat athletes nicely,” says the 19-year-old state medallist who works part-time as a BPO call agent.

Manoj Kumar, co-owner of the popular Kailash restaurant, says 60 per cent of their revenue comes from sportspersons. “I can’t give you the number of athletes visiting each day but if you come this evening, you will find them taking up all the tables. There is hardly any space left for others,” says the manager.

For most athletes, though, eating at a budget dhaba is a luxury so on most days, they cook their meals. In Ankit’s room, the responsibilities have been divided. “Two are in charge of cooking, one has to do the cleaning and we also have one person whose job is to run errands (from the third floor),” explains Ankit’s roommate, Ashish.

Rooms without fans and a ticking body clock

The rent for a single room, shared by three or more athletes, ranges from Rs 3,000 to 6,000. Azad Gautam, a middle-distance runner who had to go on a hunger strike to persuade his family to let him come to Delhi, shares a room with three others. The room doesn’t have a ceiling fan and Delhi’s unforgiving summer months have begun to kick in. “The budget is a little tight this month. We will see if we can get a fan soon,” he says. “At least this area has some sunlight; some athletes live in areas where you can’t tell if it is night or day,” adds steeplechaser Abbas, who lives on the floor above Azad’s.

Azad has seen worse — his room in Kotla Mubarakpur is an upgrade from his home in Bulandshahr. “Barish mein chhath tapakti thi gaon mein (At our village home, the roof would leak during the rains). Until my elder brother found a job, we didn’t have enough for three proper meals. Woh ek sangharsh tha, aab ye ek sangharsh hai (that was one struggle, this is another),” says Azad, who moved to Delhi early this year.

Ankit Kumar, who works as delivery boy, during a practice session at JLN Stadium. (Express Photo by Abhinav Saha)

The “sangharsh” is relentless. With every passing year, the pressure from family to quit and take up a job keeps mounting.

Abbas, who has been trying to win a national-level medal for over five years, compares the lives of Kotla’s athletes to those of UPSC aspirants.

“Everything is temporary, tension is permanent. Every day before going to bed, doubts creep in. Every morning when we wake up, there is pressure to achieve something. Athletes have a very short career. I know I have very little time left,” says the 18-year-old.

Since most athletes are in their early 20s, they know they need to make a breakthrough quickly. They have to make the most of their 20s when their bodies are at peak fitness levels. “We know that we have to get our breakthrough before we turn 28-29. There are many senior athletes at JLN who are still hoping to bag their first national medal. It is tough,” says Abbas.

A medal at the Athletics Federation of India’s national-level meets is the bare minimum these youngsters have to achieve if they hope to ever turn pro. A medal at the nationals makes them eligible for applying in PSUs and other central government agencies. But a national medal in athletics is not easy. “Out of every 100 athletes who start off, only five will eventually be able to make a career out of it. We know this fact but yet we give it everything we have got. We athletes are a little crazy but that’s also what pushes us,” says Abbas.

There’s also the stress of societal and family pressure to “settle down”. “If I had still been in my village, my parents would have got me married off. My dreams of representing India would have been put to rest. But now that I have come here and earned a name for myself, the mindset of people in my village is changing,” says Sonam.

Kanta Prasad, who bagged two medals in long-distance running at the Delhi state meet this year, ran away from his home in Hamirpur district of UP in 2017 to escape marriage. After working in Ghaziabad as an office boy for a few years, he decided he had had enough. “I walked up to an auto and asked him to drop me off at the best athletics stadium in the region. He said it would cost me Rs 150 and dropped me at JLN. I had only seen JLN in photos and was mesmerised by what I saw. Those canopies at the main stadium gave it such a grand look,” he recalls. Kanta now works at a juice stall at JLN’s Gate No.1. He can’t afford a room at Kotla yet so sleeps on top of a kiosk in the open.

Then there is sprinter Mohammed Airaf, who also doubles as the hairstylist of most of the JLN athletes. The Moradabad resident has been a full-time barber since he was 10. After a rigorous day at the stadium, he barely gets any rest since the 19-year-old has to rush to the salon he works at in Kotla on a “50/50 deal” — he gets to keep half of his daily earnings; the other half goes to the owner in lieu of using the salon’s facilities.

“I didn’t know he was a barber when one of my students brought him to train under me. He is still young but has a lot of hunger to do well. For now, his cutting skills are better than running,” says Delhi state chief coach Dinesh Rawat, who is now a regular customer at Airaf’s salon.

Amidst all these struggles, sports remains the only balm. The hours spent slogging at the stadium remain their only escape. Abbas sums it up: “When we leave Kotla’s dingy area and enter the stadium it’s like jahannum ki aag se nikal kar jannat me agaye (We have escaped the fires of hell and reached heaven”.

After all, option kya hai.





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Private general insurers push up market share, competition set to intensify | Insurance News


Private sector non-life insurance companies have increased their market share in the financial year 2023-24 (FY24) amid intense competition in the sector, mainly in the health and motor businesses. The overall market share of private non-life insurers has witnessed a sustained increase to 65 per cent for FY24 from 62 per cent in FY23 and 59 per cent in FY22 highlighting the persistent growth differential between the public and private sectors.

The non-life general insurance industry reported a lower growth during FY24 with a premium income of Rs 2.89 lakh crore, a rise of 12.78 per cent compared to the 16.3 per cent growth in premium income at Rs 2.56 lakh crore in FY23, according to figures released by the General Insurance Council.

Competition is likely to increase, especially in the health segments as new companies have commenced operations while others are waiting in the wings to enter the segment. Till date, motor third party rate hike has not been announced for FY25, which could impinge on the growth.

Additionally, tensions around the Red Sea and the Iran-Israel conflict may impact the marine segment. However, intensified competition, an uncertain international geopolitical environment and elevated inflation may negatively affect economic growth and subsequently impact the non-life insurance sector.

The industry’s growth is driven by the health and motor insurance segments. However, compared to last year, there was a decline in growth due to a fall in liability, crop insurance and credit guarantee, while fire and marine segments reported subdued growth numbers compared to last year.

Private general insurers push up market share, competition set to intensify

Life insurance segment grows 2%

Further, for the month of March 2024 as well, the growth rate was comparatively lower as growth in health was offset by slower growth in motor and a fall in the fire segment. New India Assurance has remained the leading player with a premium income of Rs 37,035 crore in FY24, a rise of 7.40 per cent over the last year.

PSU general insurers’ March 2024 numbers rose by 9.9 per cent, more than double the of 4.0 per cent in March 2023. However, the annual performance, although positive, was muted by nearly 130 bps compared to last year. On the other hand, the private sector general insurers reported a growth of 9.5 per cent for March 2024 as against 13.2 per cent in March 2023.

“The FY24 numbers have demonstrated robust growth which can be primarily attributed to group health and motor insurance (premiumisation of the market with SUV sales increasing their share in the PV segment,” said a CareEdge Ratings report.

Meanwhile, specialised insurers posted a drop of 28.9 per cent in March 2024 compared to a rise of 14.1 per cent in March 2023. Similarly, the FY24 numbers continued to reduce by 29.3 per cent vs. a growth of 5.1 per cent in FY23. This has been primarily because crop insurance premiums of Agriculture Insurance Company reduced by 32.1 per cent for FY24, as select public sector general insurers and a few private general insurers picked up a larger proportion of crop insurance premiums.

Standalone private health insurers (SAHI) continued their growth momentum as the March 2023 numbers topped the Rs 4,000 crore mark from Rs 3,000 crore in February 2024 and coming in higher by 25.9 per cent over March 2023 as they continue to gain share in retail health from PSU insurers and increasing their share of the group health pie. Further with IRDAI approving two SAHIs in F24, competition is expected to accelerate even further in FY25. Health insurance premiums continue to be the primary growth driver of the non-life insurance industry. This has increased the segment’s market share from 33.3 per cent for FY22 to 37.6 per cent for FY24. The health segment has grown by 20.2 per cent for FY24, which is lower than the growth of 23.2 per cent witnessed for FY23.

“The industry’s growth will continue to be driven by the health and motor insurance segments as they account for around 68 per cent of the premiums. Broadly speaking the first quarter of the financial year accounts for around 20 per cent of the sector’s premiums and this trend is likely to persist in FY25,” CareEdge Ratings said.





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DSK scam: In presence of ED officials, family of DS Kulkarni collects documents from his office, bungalow in Pune | Pune News


The family of Pune-based realtor D S Kulkarni of the DSK Group on Friday collected some documents and electronic gadgets from his office on JM Road and a bungalow on Senapati Bapat Road in Pune, in the presence of Enforcement Directorate (ED) officials.

Kulkarni had sought permission from a court in Mumbai to take certain documents and electronic gadgets from his office and bungalow seized by the ED, as he required them for the court case against him.

As per the court’s order, ED officials opened the office and bungalow and allowed Kulkarni’s family to collect the materials. The ED officials then sealed the properties again. The officials video-recorded the entire procedure and also prepared a record of documents and other materials taken by Kulkarni’s family.

Since October 2017, the Economic Offences Wing (EOW) of Pune City police has been probing the DSK Group for allegedly cheating around 35,000 depositors and investors to the tune of Rs 1,083 crore, siphoning of Rs 711 crore received in the form of loans, and Rs 111 crore accepted through debentures and a land deal in Fursungi involving embezzlement of Rs 184 crore.

The ED has also launched an investigation into the alleged money laundering case by the group as per provisions of the Prevention of Money Laundering Act (PMLA). In February 2019, the ED had attached assets worth Rs 904 crore of the DSK Group for allegedly defrauding small investors.

According to a statement then issued by the ED, Kulkarni, his wife Hemanti and their son and executive director of the DSK Group allegedly floated eight partnership firms in Mumbai, Pune and Kolhapur to collect deposits from “gullible investors”.

The agency said between 2006 and 2017, the firms raised about Rs 1,129 crore from over 35,000 investors. The immovable properties attached by the ED include land, buildings, flats, insurance policies and cash deposits in bank accounts.

The ED statement said the three officials of the group, “layered and integrated” the funds received by the eight partnership firms “through various high-value sham transactions under cover of capital, advance against property and director’s loan between 40 group companies” of DSK to project it as “untainted money”.

The ED has alleged that the money was then laundered to four DSK firms in India and the US, as well as to the bank accounts of the Kulkarnis. The ED statement also said the laundered money was utilised to purchase properties in India and the US, to repay bank loans and to purchase high-value LIC policies for the Kulkarni family, among others.


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