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Equities trade higher ahead of RBI policy review outcome (Lead)
Mumbai, Oct 4 (IANS) Positive global cues, coupled with healthy buying in healthcare, oil and gas and FMCG stocks, pushed the key Indian equity indices higher during the mid-afternoon trade session on Wednesday.
Index heavyweights like Sun Pharma, ITC, Power Grid, Reliance Industries and Dr. Reddy’s Lab aided in the upward trajectory of the indices.
According to market observers, investors remained cautious ahead of the monetary policy review outcome of the Reserve Bank of India due later during the day.
At 12.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 53.55 points, or 0.54 per cent, to trade at 9,913.05 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,522.17 points, traded at 31,661.14 points — up 163.76 points, or 0.52 per cent.
The Sensex has so far touched a high of 31,688.73 points and a low of 31,457.78 points during intra-day trade.
The BSE market breadth was bullish — 1,487 advances and 921 declines.
“After a tepid start, the benchmark indices gained some momentum with the Nifty testing its crucial 9,900 mark. Gains were, however, capped as investors stayed cautious ahead of the Reserve Bank of India’s policy outcome scheduled for later in the day,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
“The monetary policy committee of the RBI is expected to keep its interest rate unchanged today despite a sharp slowdown in economic growth. Shares of all three state-owned oil marketing companies were trading higher by up to 4 per cent on BSE in early morning trade after the government cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday,” he added.
On Tuesday, the benchmark indices surged to close on a higher note as positive global cues, coupled with healthy buying in automobile, consumer durables and oil and gas stocks, lifted investors’ sentiments.
The Nifty50 rose by 70.90 points, or 0.72 per cent, to close at 9,859.50 points, while the Sensex closed at 31,497.38 points — up 213.66 points, or 0.68 per cent.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.