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The DDA on Tuesday said that it will hold a draw of lots on August 25 for about 600 flats for waitlisted applicants of its 2021 Housing Scheme. These housing units are from the inventory left over after surrender of flats from the scheme by several allottees. The DDA however, did not disclose the price range of these flats. A senior official said, over 600 flats will be part of this draw of lots. The Delhi Development Authority (DDA) on March 10 had allotted 1,353 flats to people under the housing scheme through a draw of lots, streamed online. The 2021 Housing Scheme was launched on January 2. Applications were accepted till February 16, with 1,354 flats on offer. These flats under various categories are located in Dwarka, Jasola, Manglapuri, Vasant Kunj and Rohini. Of the over 1,350 flats, the costliest ones are worth Rs 2.14 crore in the high-income group (HIG) category. The maximum number of 757 flats were offered in the middle-income group (MIG) category. The DDA has decided to conduct a draw for allotment of flats to waitlisted applicants under the Housing Scheme 2021 on August 25, slated at 3 PM onwards, officials said. The draw of lots will be based on random number generation system and will be held in the presence of independent observers comprising, a retired judge and a senior officer of the government of India, the DDA said. The general public can view the live telecast of the draw on through webex platform, official said. People surrender flats due to many constraints like civic facilities, accessibility from main city, last-mile connectivity and transportation and safety issues. The last DDA housing scheme was launched in March 2019, offering nearly 18,000 flats under four categories – 488 (HIG), 1,555 (MIG), 8,383 (LIG) and 7,496 (EWS).
Coronavirus Case and Fatality Rate in India, Coronavirus Third Wave Highlights: India once again crossed the 40,000-mark with 46, 164 new coronavirus cases were detected on Thursday. It was the second day in a row when the Covid deaths were above the 600-mark. At 604, there was a slight dip in the daily Covid fatalities, the national bulletin said. One of the key factors in the latest spike in the daily cases is the post-Onam surge in Kerala. The state, which has been reporting more than half of the total cases in the country, has reported over 31,000 cases in the last 24 hours. This is the highest that the The test positivity rate of Kerala has touched a frightening level of 19 per cent, an Indian Express report says. Another worrying sign is the rising active cases in India. The government data shows that there was a jump of around 11,000 active cases in the last 24 hours. At present, India has 3,33,725 active Covid-19 cases, the health update says. Also Read: What does India entering 63 per cent, the health ministry data says. On the vaccination front, India has now achieved a new milestone as over 60 crore Covid jabs have been administered nationwide during the mass vaccination drive. The daily testing is at a moderate level of nearly 18 lakh Covid tests conducted in a day, the ICMR data shows. Meanwhile, the World Health Organization has said that the pace of new coronavirus cases has stabilised. The UN agency says that globally, 4.5 million cases are being reported in a day. This comes after a sharp spike that was witnessed in the last 60 days. India is still among the top nations reporting a maximum number of cases, the WHO tally shows. Along with India, the US, Brazil, Iran and Britain have been reporting a high number of coronavirus cases. Also Read: Hyderabad begins mop-up drive to vaccinate those who have missed out on shots In India, a lot is being talked about the endemic phase of the coronavirus pandemic after the statement by WHO While the current phase may have reported moderate levels of new infections, the point is about an unpredictable trajectory in future. Major states such as Bihar, Uttar Pradesh and Karnataka have reopened schools and unlocked key economic activities. Apart from this, the festive season can also impact the Covid recovery in India. Along with under 1-crore Covid jabs on daily basis, the cumulative coverage is still far from the desired levels. Here are the latest Covid updates from India and around the globe:
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading flat on Thursday following global rates as investors turned cautious ahead of US Federal Reserve Chair Jerome Powells speech this week. On Multi Commodity Exchange, gold October futures were trading Rs 17 down at Rs 47,162 per 10 gram, as against the previous close of Rs 47,179. Silver September futures were ruling at Rs 63,201 per kg, down Rs 71. In the previous session, silver futures ended at Rs 63,272 per kg. Globally, Spot gold was flat at $1,790.63 per ounce. Prices fell 0.7% in the previous session, its biggest one-day decline in more than two weeks, according to Reuters. US gold futures rose 0.1% to $1,793.00. Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart COMEX gold has strong resistance in the 1810-1830 area and we are seeing some weakness from this zone where 1775 is a critical support level; any major weakness is expected only below this level. Eying the US Fed Chairman Jarom Powells speech in the Jackson hole symposium tomorrow, Gold is trading sideways. Coming to MCX gold, it has a critical support zone in the 47025-46825 area and any move below this can lead to any meaningful correction where 46580 will be the next support. On the upside, 47300-47500 is an immediate supply zone whereas 47750 is a critical hurdle. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities COMEX gold trades little changed near $1790\/oz after a 1% decline yesterday. Gold trades little changed as gains in US dollar is countered by choppiness in equities as market players position for Fed Chairman Support from virus risks, global growth worries and geopolitical tensions are countered by weaker investor interest. Gold may remain sideways ahead of Fed Chairmans comments however global uncertainty may keep prices supported. NS Ramaswamy, Head of Commodities, Ventura Securities Today, we expect the MCX Gold Oct prices to trade sideways. After breaking above the 100 EMA level on daily chart, prices are again back below the same level and now hovering near the 20-day moving average. On hourly chart, prices need to sustain above the 47,400 mark on an hourly closing basis for further upside. On the downside, key support is seen at 47,000 level breaking below which we may expect prices to test the levels of 46,700 on intraday basis. On the Comex front, prices are struggling to sustain above $1800\/ounce mark. Key resistance is at $1810\/ounce on closing basis. On the downside, key support is seen at $1770\/ounce level. MCX SILVER Sep prices are also likely to trade sideways for intraday. On hourly chart, prices need to sustain above the 63,500 mark on hourly closing basis. We may expect prices heading towards 64,500 level after this breakout. On the Comex Front, immediate resistance is at $24 Breaking above this level, prices may head higher towards $25.00\/ounce level. Sandeep Matta, Founder – TRADEIT, Investment Advisor Gold prices seem in hibernation mode and operating comfortably within the range of $1770-$1810 Market participants are keenly eyeing the upcoming economic symposium which could become the new catalyst for gold to surge. Gold on MCX also tanked and traded in deep stress throughout the day. The outlook is negative until it crosses and sustains above 47500 level. The momentum indicators are suggesting some more profit booking and market participants are advised to follow key pivotal levels. Key level for GOLD AUG Contract Financial Express Online does not bear any responsibility for their advice. Please consult your investment advisor before investing.)
Nifty futures turned positive and were trading 24 points or 0.14 per cent up at 16,692 on the Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50. Going ahead, analysts see 16600 followed by 16500 as immediate supports; whereas on the flipside, 16700 to be the level to watch out for. From here on, the direction is likely to be dictated by the banking space only and hence, it would be important to keep a close watch on it, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking), said. Stocks to watch Infosys: Infosys Public Services Inc. (IPS), a subsidiary of Infosys announced that it will enable Manitoba Public Insurance (MPI), to digitize driver licensing, vehicle registration, and International Registration Plan (IRP) services for over 900,000 Manitobans. ONGC: Megha Engineering Infrastructures Limited (MEIL) is all set to deliver USD 860 million worth 47 oil and gas rigs to ONGC Limited by end of next year, a senior official of the Hyderabad-based infra major said on Thursday. SAIL: SAIL has targeted to bring down its debt between Rs 15,000- 20,000 crore in the next couple of months, chairperson Soma Mondal told reporters on the sidelines of the inauguration of the MSTC new headquarters. SpiceJet: SpiceJet The airline expects to start operations of PNB, UCO Bank, Bank of Maharashtra: The Appointments Committee of the Cabinet (ACC) has approved the extension of the tenure of SS Mallikarjuna Rao, MD CEO of Punjab National Bank, by about four-and-a-half months through January 31, 2022, when he is due for superannuation. Similarly, the tenure of Atul Kumar Goel, MD CEO of UCO Bank, and AS Rajeev, MDCEO of Bank of Maharashtra, by two years each.
US Vice President Kamala Harris who is on an Asian visit reached the Vietnamese capital Hanoi with a delay of about three hours caused by the fear of Havana syndrome. Harris was scheduled to travel from Singapore to neighbouring Vietnam on Tuesday but her arrival was delayed reportedly due to the fear of Havana syndrome, the Indian Express quoted AP as saying. What is Havana syndrome? The high powered entourage of the US Vice President Harris came to a sudden halt after reports indicated that a person had possibly been infected with Havana syndrome. White House press secretary Jen Psaki was quoted as saying that the case had come to light of the US administration but not been confirmed. Psaki also said that Harris only resumed her travel to the Vietnamese capital once a mandatory security check had been conducted. The first case of the so-called Havana syndrome came to light in the year 2016 when US diplomats and other officials had reportedly fallen ill in Havana, the capital of Cuba. The infected US officials had reportedly started getting strange physical sensations and heard weird sounds. Other symptoms reported among the US officials included nausea, severe headache, hearing loss, fatigue and sleep disorders. Since 2016, the mysterious illness has been reported among dozens of US diplomats and officials in even other parts of the world and the illness has come to be called Havana syndrome. If US Canada, which is a close ally and neighbour of the United States has also reported the presence of syndrome in some of its officials and diplomats. While several of the infected officials have been cured of the Havana syndrome symptoms after treatment, many continue to suffer from the weird symptoms. The personal as well as professional lives of such officials has also been badly impacted due to the manifestation of strange sounds, fatigue, dizziness and hearing problems. How have Cuba and the US responded to Havana syndrome? Cuba and the US have a decades old ideological rivalry as the former espouses communism whereas the US is the undisputed leader of the predominantly capitalist world. The ideological rivalry has on a number of occasions also expanded to the realm of geopolitics with Cuba accusing the US of meddling in its internal affairs. Quite understandably Cuba on its part has not spoken much about the so-called Havana syndrome and has maintained that it has no knowledge about the illness. While the US investigative agencies have for years indicated that the Havana syndrome has been intentionally directed against the US officials and diplomats, the agencies are yet to come out with any conclusive evidence on the same. As recently as December 2020, the US National Academies of Sciences (NAS) said that the syndrome may have been directed by energy beams. The NAS which studied the symptoms in over 40 such US officials concluded that directed pulsed radio frequency (RF) energy was behind the Havana syndrome. The NAS had also recommended to the US administration that a prompt response action must be formulated for similar incidents in future for the safety of the US diplomats serving in different countries around the world.
Pakistan-based terror groups Jaish-e-Mohammed and Lashkar-e-Taiba are UN Security Council proscribed entities that need to be called out and condemned in the strongest possible terms, Foreign Secretary Harsh Vardhan Shringla has said. Addressing the media at the UN Security Council stakeout here on Monday, Shringla underlined that the Council resolution on Afghanistan, adopted under Indias Presidency, refers to individuals and entities designated by the world organisation. Lashkar-e-Taiba and Jaish-e-Mohammed as well as the Haqqani Network are proscribed terror entities under UNSC resolution 1267 (1999) concerning ISIL (Daesh), al-Qaeda, and associated individuals, groups, undertakings and entities. JeM founder Masood Azhar and LeT leader Hafiz Saeed are also listed as global terrorists under the 1267 Sanctions regime. Todays UN Security Council resolution. is a very important and timely pronouncement, coming as it does under Indias Presidency of the UN Security Council. I want to highlight the fact that the resolution makes it very clear that Afghan territory should not be used to threaten or attack any other country, in particular also underlines the importance of combating terrorism. It also refers to those individuals and entities that have been designated under Security Council Resolution 1267, Shringla said. In that context, I may mention that the LeT and the JeM, are UN Security Council proscribed entities, terror entities that need to be called out and condemned in the strongest possible terms. So, I think from that point of view, it has been quite unequivocal in the Council and I think that also reflects the views of Council members as we understand it from the discussions he said. Shringla chaired meetings of the Security Council as President of the powerful 15-nation UN body as Indias month-long presidency comes to an end on Tuesday. The Council adopted a strong resolution drafted by France, the UK and the US, with 13 members voting in favor and permanent veto-wielding members China and Russia abstaining. Responding to questions from reporters after the adoption of the resolution, Shringla said that as a neighbour of Afghanistan, a country with whom India has historical connection, the resolution as well as the Councils engagement over the month of August on Afghanistan has been very very important. Ive already mentioned to you about the number of outcomes on Afghanistan that the Council has produced over the last month and I think all of these are very, very significant outcomes, he said. Under Indias Presidency for the month of August, the Council held three sessions on Afghanistan and issued three press statements on August 3, 16 and 27, the last one strongly condemning the deplorable attacks near Hamid Karzai International Airport in Kabul on August 26. On the penultimate day of Indias Presidency, the Council issued a strong resolution on Afghanistan that again condemned in the strongest terms the attacks near the Kabul airport. The attack, claimed by the Islamic State in Khorasan Province, an entity affiliated with the Islamic State in Iraq and the Levant (Daesh), resulted in the deaths and injuries of over 300 civilians and 28 military personnel, and takes note of the Talibans condemnation of this attack, it said. The resolution demands that Afghan territory not be used to threaten or attack any country or to shelter or train terrorists, or to plan or to finance terrorist acts, and reiterates the importance of combating terrorism in Afghanistan, including those individuals and entities designated pursuant to resolution 1267 (1999), and notes the Talibans relevant commitments. Shringla said Indias endeavour over the last 20 years has been to provide development assistance to the people of Afghanistan. Over the last two decades, we have extended over USD 3 billion of assistance to Afghanistan in infrastructure development, capacity building, education, agriculture, areas that are important for the people of Afghanistan, he said. It is learnt that India, as Council President, worked very closely on the Afghanistan resolution and played an important, constructive and bridging role. Indias concerns and views have been taken on board and reflected in the resolution. The fact that the resolution, which came just a day before Indias Council presidency ends and which has strong language on combating terrorism, underscores that India kept the focus in the Council on the situation in Afghanistan throughout its Presidency month. The resolution is seen as a first in terms of highlighting the situation in the war-torn country, including underlining the need to build on Afghanistans gains over the last 20 years. The August 3 Security Council statement on the Escalating Violence in Afghanistan issued by Council President Indias Permanent Representative to the UN Ambassador T S Tirumurti had reaffirmed that there is no military solution to the conflict and declared that they do not support the restoration of the Islamic Emirate. The Council had expressed its deep concern about the high levels of violence in Afghanistan following the Talibans military offensive, and had called for an immediate reduction of violence. The August 16 statement that came a day after the Taliban took control of Kabul had reaffirmed the importance of combating terrorism in Afghanistan to ensure the territory of Afghanistan should not be used to threaten or attack any country, and that neither the Taliban nor any other Afghan group or individual should support terrorists operating on the territory of any other country.? The August 27 statement on the airport attacks had underlined the need to hold perpetrators, organisers, financiers and sponsors of these reprehensible acts of terrorism accountable and bring them to justice. The Council had reiterated the importance of combating terrorism in Afghanistan to ensure the territory of Afghanistan should not be used to threaten or attack any country, and that no Afghan group or individual should support terrorists operating on the territory of any country. While the August 27 statement said that no Afghan group or individual should support terrorists operating on the territory of any country, it was learnt that the specific reference to the Taliban here, as made in the August 16 statement, was deleted at the request of China.
BSE Sensex and Nifty 50 resumed record closing high spree after a days blip on the weekly FO expiry day. BSE Sensex ended up 514 points or 0.90 per cent at 57,852, while NSEs Nifty 50 index settled at 17,234, up 0.92 per cent. Index heavyweights such as Tata Consultancy Services (TCS), Reliance Industries Ltd (RIL), Hindustan Unilever Ltd (HUL), Housing Development Finance Corporation (HDFC), HDFC Bank, Kotak Mahindra Bank contributed the most to the indices gain. India VIX, the volatility index, gained 0.4 per cent to settle at 14.24 levels. Broader markets gained in line with equity benchmarks. BSE MidCap gained 0.93 per cent or 225 points to end at 24,297.51. BSE SmallCap index surged 0.80 per cent or 215 points to settle at 27,195.12. Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities Markets were back in action after yesterdays small correction and benchmark Nifty found support near 17050 level. After a muted opening the index successfully cleared the intraday resistance of 17150 and is comfortably trading above the same which is largely positive. The intraday rally indicates further uptrend from the current levels but the market has formed a double top kind of formation. For the trend following traders, 17150 would be the key support level, and above the same the uptrend structure could continue up to 17300-17350 levels. On the flip side, if the Nifty slips below 17150, it may trigger a quick intraday correction till 17100-17075 levels. Deepak Jasani, Head of Retail Research, HDFC Securities Nifty reversed the losses of the previous day and closed at another record high on Sept 02. Nifty opened gap up and kept rising through the day to close almost at the intraday high. At close Nifty was up 157.9 points or 0.92% at 17234. Nifty reversed the losses of the previous day and nullified the bearish signal. The advance decline ratio has improved to much above 1:1. FPIs seem to be in a mood to keep buying Indian stocks. The Nifty keeps breaching resistances one after the other in fresh territory. Nifty could now stay in the 17340-17154 band for the next 1-2 sessions. Vinod Nair, Head of Research, Geojit Financial Services Domestic indices nudged higher tracking cues from positive economic data, FII buying and mixed global markets ahead of the release of US job data. Economic data is nudging the performance of core sectors like capital goods industrials while the recent high performance of the market is also tempting investors to shift to safer defensive sectors. All major sectors followed the market trend while the auto sector lost ground due to weak sales. Rohit Singre, Senior Technical Analyst at LKP Securities Index again showed positive move and closed a day at 17233 with gains of nearly one percent forming a bullish candle on the daily chart. The index has shifted its support to 17175-17050 zone if managed to hold above-said levels we may see more northward moment in coming sessions also dips around said levels will be again fresh buying opportunity and if failed to hold then we may see good profit booking still make or break level is at 17k mark, on the higher side strong hurdle is coming near 17300-17350 zone. Ashis Biswas, Head of Technical Research at CapitalVia Global Research The market witnessed the continuation of a positive trend, after sustaining above the level of 17100. If the market sustains above the level of 17200-17250, it is expected that the market to gain momentum, leading to an upside projection till 17400-17450 level. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.
Wall Street equity index SP 500 currently sits at its all-time highs of 4,479, gaining more than 21% this year already. However, the rally may not be over as analysts UBS Wealth Management expect the index to scale 5,000 by the end of next year, gaining another 12% from current levels. Our read is that growth will stay strong for at least the next four quarters, Meanwhile, the global brokerage firm reiterated its Nifty 50 target of 15,500 in June this year, seeing a small downside to the target. After the covid induced scare in March 2020, SP 500 has nearly doubled, jumping 94% to date. As this earnings trajectory is confirmed, we expect the SP 500 can reach 5,000 by the end of 2022, The Chief Investment officer further added that he expects rates of growth and inflation to stay well above historical norms for the next six to 12 months, and this should continue to fuel robust corporate earnings growth. So far consumption in the US has been pushed higher by the excess savings that consumers accumulated during 2020 and have been spending since reopening. The same has started to fade away now. However, UBS analysts believe that now rising employment figures will turn up to support consumer spending. In the previous month, nonfarm payrolls was above expectations with 943,000 new jobs. Payrolls, according to UBS are below pre-pandemic levels, and could grow further. Historically, when this measure has been below 39, the headline ISM index has remained above 54 for over a year, indicating strong business sentiment and real growth, For the current year, UBS Wealth Management has increased its target for SP 500 for 2021 to 4,600 from 4,500 earlier, according to MarketWatch. This increase comes on the back of solid economic and corporate profit growth, in union with a US Fed that is still-accommodative. Meanwhile, in India, benchmark indices have scaled fresh all-time highs recently and hover around the record highs. The Nifty 50 is above 16,600 and inching closer to the all-time high of 16,701. In the base case, UBS had pegged Nifty 50 at 15,500 while the bear case scenario expects the index to fall to 13,100 levels. On the other hand, the bull case scenario given by UBS analysts sees the Nifty 50 at 16,700.
Serum Institute of India (SII) has informed the Centre that it will be able to supply around 20 crore doses of COVID-19 vaccine Covishield in September itself to Government to India and private hospitals, official sources said. The Pune-based SII has already supplied 12 crore doses of the COVID-19 vaccine in August, they said. Director, Government and Regulatory Affairs at SII, Prakash Kumar Singh has communicated to the Union Health Ministry that the firm has further enhanced its production capacity and it will be able to supply approximately 20 crore doses of Covishield in September itself to Government of India and private hospitals, an official source said. In a production plan submitted to the Centre in May, SIIs director had communicated that the production of Covishield would be ramped up to 10 crore each in August and September, sources had said. Later in May-end, Singh communicated to Union Home Minister Amit Shah that Covishield production would be ramped up to 10 crore doses in June. We are committed to enhancing the production capacity of our Covishield vaccine and have been working round-the-clock in spite of various challenges being faced by us because of COVID-19 pandemic. We are pleased to inform that in the month of June we will be able to manufacture and supply nine to 10 crore doses of our Covishield vaccine to our country as compared to our present production capacity of 6.5 crore doses in May, he had said in a communication to Shah.
India and the United States have signed an agreement for cooperation in the development of Air-Launched Unmanned Aerial Vehicle (ALUAV), in yet another step to further expand bilateral defence and military cooperation. The defence ministry said on Friday that the Project Agreement (PA) for ALUAV was signed on July 30 under the overall framework of the Defence Technology and Trade Initiative (DTTI). The pact was signed between the Ministry of Defence and the US Department of Defence. The defence ministry described it as a significant step towards deepening defence technology cooperation between India and the US. The Ministry of Defence and the US Department of Defence signed a Project Agreement (PA) for ALUAV under the Joint Working Group Air Systems in the Defence Technology and Trade Initiative (DTTI) on July 30, it said in a statement. The PA pact falls under the ambit of the Research, Development, Testing and Evaluation (RDTE) agreement between the two sides that was first signed in 2006 and renewed in January 2015. The PA outlines the collaboration between Air Force Research Laboratory, Indian Air Force, and Defence Research and Development Organisation towards design, development, demonstration, testing and evaluation of systems to co-develop an ALUAV Prototype, the ministry said. It said the main aim of DTTI is to bring sustained leadership focus to promote collaborative technology exchange and create opportunities for co-production and co-development of future technologies for Indian and US military forces. Under DTTI, Joint Working Groups on land, naval, air, and aircraft carrier technologies have been established to focus on mutually agreed projects in respective domains. The PA for co-development of ALUAV has been overseen by the Joint Working Group on Air Systems and is a major accomplishment for DTTI, the ministry said. The Indo-US defence ties have been on an upswing in the last few years. In June 2016, the US had designated India as a Major Defence Partner. The two countries have also inked key defence and security pacts over the past few years, including the Logistics Exchange Memorandum of Agreement (LEMOA) in 2016 that allows their militaries to use each others bases for repair and replenishment of supplies as well as provides for deeper cooperation. The two sides have also signed COMCASA (Communications Compatibility and Security Agreement) in 2018 that provides for interoperability between the two militaries and the sale of high-end technology from the US to India. In October last year, India and the US sealed the BECA (Basic Exchange and Cooperation Agreement) agreement to further boost bilateral defence ties. The pact provides for sharing of high-end military technology, logistics and geospatial maps between the two countries.