"Country's Trust, Modi's Guarantee": EAM S Jaishankar As BJP Ahead In Three States

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"Country's Trust, Modi's Guarantee": EAM S Jaishankar As BJP Ahead In Three S...

by Manisha Das

NEWS HIGHLIGHTS

External Affairs Minister S Jaishankar on Sunday said that the people of India trust only "Prime Minister Narendra Modi's ki guarantee" as BJP appears to have a comfortable lead in Assembly polls in three states - Chhattisgarh, Madhya Pradesh and Rajasthan.

New Delhi, Dec 3: External Affairs Minister S Jaishankar on Sunday said that the people of India trust only "Prime Minister Narendra Modi's ki guarantee" as BJP appears to have a comfortable lead in Assembly polls in three states - Chhattisgarh, Madhya Pradesh and Rajasthan.

Reacting to the trends of the Election Commission of India, Jaishankar wrote in a Hindi post shared on X, "Country's trust, Modi's guarantee." The text on the image shared by Jaishankar on X reads, "In India, people trust only one guarantee and that is 'Modi's Guarantee'."

The electoral contest has gone wrong for the Congress in Madhya Pradesh where they were pinning their hopes on a return to power. As the counting of votes continues, the BJP has taken a comfortable lead in Madhya Pradesh and Rajasthan, while also aiming to capture Chhattisgarh from Congress.

In Telangana, the Congress is poised to oust the K Chandrasekhar Rao-led BRS government to wrest power in another southern state. Congress has been wiped out of Madhya Pradesh with the BJP winning its fourth assembly election in the state.

Incumbent Chief Minister Shivraj Singh Chouhan and the BJP decimated the Congress heading towards a clean sweep in Madhya Pradesh. As results of the Assembly polls came in, the Congress appeared on the verge of being voted out in Rajasthan as the state stays true to its cyclic voting trend, while in Chhattisgarh the BJP is poised to edge out the Congress in the state.

The lone spark of joy for the Congress has come from Telangana where it is poised to form a government on its own. According to the Election Commission of India's latest trends, the Congress is leading on 65 seats while the Bharat Rashtra Samithi (BRS) is ahead on 39 and the BJP leading on 9.

The BJP appeared to upset the ruling Congress' applecart in Chhattisgarh, forging ahead in 53 of the 90 assembly seats, while the grand old party led in 34 seats, as per the latest information available with the Election Commission.

According to ECI, BJP crossed the halfway mark in Rajasthan with its candidates leading in 112 seats while the Congress was ahead in 70 seats.

(ANI)

Foreign Portfolio Investments Drop To Rs 2,916 Cr On Back Of High Valuations, Capital Gain Tax Hike

by Shambhu Datta Mishra

New Delhi, July 27: Net investments by Foreign Portfolio Investors (FPIs) in the Indian equity market declined to Rs 2,916 crore for the week ending July 26, due to investor selling amid budget uncertainty.

As per data from the National Securities Depository Limited, last week foreign investors injected Rs 15,420 crore into Indian markets, but their buying declined significantly for the week July 22-26.

So far in July, the net investment by FPIs in the equity market stands at Rs 33,688 crore. This year's total investment by foreign investors has now surged to Rs 1,39,010 crore.

"The Budget 2024-25 has not sparked any significant excitement in the market, while it was both populist and prudent. The increase in short- and long-term capital gains taxes added to the volatility on budget day. Although the government's emphasis on fiscal discipline and growth is appealing, FIIs are cautious due to current high valuations and muted expectations for Q1FY25 results" said Vinod Nair, Head of Research at Geojit Financial Services.

He further added, "Meanwhile, DIIs continue to employ a 'buy on dips' strategy, which contributed to market gains on the week's last trading day, particularly in the pharma, auto, metal, IT, and FMCG sectors."

The volatility of FPI flows extends beyond India, affecting other markets as well. Countries like Brazil, Indonesia, Malaysia, Philippines, and South Korea have witnessed FPI inflows this week while the markets in Taiwan, Thailand, and Vietnam have experienced outflows.

"Market focus has swiftly moved on from the Union Budget, unveiled in the week, to the ongoing Q1FY25 earnings season. The FY2025 Union Budget delivered a judicious balance between capital expenditure, fiscal prudence, and welfarism. FPI flows are expected to remain volatile" said Shrikant Chouhan, Head of Equity Research, Kotak Securities.

This year's trend in foreign investment has been erratic. Foreign investors were net sellers in January, April, and May, cumulatively selling equities worth around Rs 60,000 crore. However, they turned into net buyers in February, March, and June, with cumulative purchases amounting to Rs 63,200 crore.

(ANI)

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Raj & DK To Bring Action Fantasy Drama 'Rakt Bramhand'; Call It 'Uncharted Territory'

by Shambhu Datta Mishra

Mumbai, July 27: Filmmaker duo Raj & DK are gearing up to bring their first action-fantasy series, 'Rakt Bramhand - The Bloody Kingdom', which they describe as 'uncharted territory', making it all the more thrilling for them.

The makers took to social media and shared the announcement, dropping an intriguing poster featuring a massive bejeweled throne with blood spots.

The post was captioned: "We've got BIGGGGG news that'll stir your blood! We're pumped to announce our first ever action-fantasy series... now filming."

The series promises a gripping, edgy narrative set against the backdrop of a fantastical kingdom, complete with bloody action and spectacular visuals.

For this project, Raj & DK have partnered with director Rahi Anil Barve and long-time collaborator Sita R. Menon, under their production company, D2R Films.

In a statement, Raj & DK said: "This is uncharted territory, which makes it all the more thrilling for us. Our goal is to develop a fictional world that is both original and reminiscent of the fantastical tales we have heard in our childhood."

"We are having an amazing time working with the very talented Rahi and our uber versatile partner Sita to bring this unique vision to life. Working with Netflix has been excellent, and we have their enthusiastic support to back the unconventional vision for Rakt Bramhand," they added.

Monika Shergill, Vice President of Content at Netflix India, added: "After the outstanding success of the genre-bending 'Guns & Gulaabs', we're thrilled to team up with the masterful duo of Raj & DK for another defining series. 'Rakt Bramhand - The Bloody Kingdom' will be Netflix India’s first-ever mega action-fantasy series and is set to redefine the genre by combining grand-scale action with a thrilling storyline."