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Markets’ upward bias likely to continue (IANS Insight-Market Watch)

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By Arun Kejriwal
The week gone by had one day of correction and one day of solid gains. The remaining three days were flat but volatile and choppy. BSESENSEX gained 376.77 points or 1.05% to close at 36,386.61 points. NIFTY was up 112 points or 1.04% to close at 10,906.95 points.

Dow Jones gained 710.40 points or 2.96% to close at 24,706.35 points. The government continues to remain shut down as the Democrats are unrelenting now with Trump behaving in a manner unbecoming of the president. Things are unlikely to get sorted out soon.

Results from the large companies are on track and are seeing positive movement post declaration of their results. After the IT giants TCS and Infosys, it was the turn of Reliance and Hindustan Unilever this week. Even Wipro reported a good set of numbers and the share gained.

SEBI has advised Larsen and Toubro that its buyback offer is not in compliance with section 68(2)(d) in terms of the net debt and has therefore advised the company not to proceed with the buyback offer. This would put pressure on the share when trading begins on Monday. Shares of the company lost Rs 52 or 3.80% during the week and closed at Rs 1,318.

Sun Pharma has been in the news for all the wrong reasons in the last few quarters. This time around the media whether print or electronic is talking about a second letter from the whistle-blower. The company has written to SEBI and asked them to investigate the matter. Meanwhile the shares of Sun Pharma were on the receiving end and lost significant ground. Shares were down Rs 52.45 or 11.83% at Rs 390.75.

Markets are likely to continue their upward bias in the coming week. Corporate results seem to be positive and they could provide the trigger for the week. The biggest trigger however is the fact that people want to short any rally and hence we witness high intra-day volatility daily. Refrain from shorting the market.

(The writer is founder, Kejriwal Research and Investment Services)

–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

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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.

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