LIVE updates: 'Centre monitoring situation', says BJP on Adani stock rout

The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Stay tuned for the latest updates.

11:47 PM

US considering plan to down Chinese balloon over Atlantic

The Biden administration is considering a plan to shoot down a large Chinese balloon suspected of conducting surveillance on US military, by bringing it down once it is above the Atlantic Ocean where the remnants could potentially be recovered, according to four US officials.

 

The officials, who spoke on the condition of anonymity to discuss the sensitive operation, said it was unclear whether a final decision had yet been made by President Joe Biden.

 

In a brief remark Saturday in response to a reporter's question about the balloon, Biden said: We're going to take care of it. The balloon was spotted Saturday morning over North Carolina as it neared the Atlantic coast.

 

Biden had been inclined to down the balloon over land when he was first briefed on it on Tuesday, but Pentagon officials advised against it, warning that the potential risk to people on the ground outweighed the assessment of potential Chinese intelligence gains.

11:30 PM

Budget has outlined development roadmap of country for next 25 years: Mandaviya

Union Health Minister Mansukh Mandaviya on Saturday said the Union Budget for 2023-24 has outlined the development roadmap of the country for the next 25 years.

 

At a "Budget pe Charcha" programme in Gurugram in Haryana, the minister interacted with a group of people, including intellectuals and traders, and shared his views on the budget.

 

Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24 in Parliament on February 1. Mandaviya said this was the first budget of "Amrit Kaal" -- the 25-year period up to the centenary of India's independence.

10:50 PM

Five new judges appointed to SC to take oath on Monday

The five new judges appointed to the Supreme Court on Saturday will take the oath of office at 10.30 am on February 6, sources in the apex court said.

 

Chief Justice of India D Y Chandrachud will administer the oath to the five judges in a ceremony on the top court premises, they said.

 

Earlier in the day, Union Law Minister Kiren Rijiju tweeted to announce the appointment of Justice Pankaj Mithal, Chief Justice, Rajasthan High Court; Justice Sanjay Karol, Chief Justice, Patna High Court; Justice P V Sanjay Kumar, Chief Justice, Manipur High Court; Justice Ahsanuddin Amanullah of Patna High Court; and Justice Manoj Misra of Allahabad High Court as apex court judges.

 

Their names were recommended by the Supreme Court Collegium on December 13 last year.

10:39 PM

Front-of-package warning labels can discourage unhealthy food choices: ICMR-NIN study

A study by the ICMR-National Institute of Nutrition on acceptability and potential use of different formats of front-of-pack nutrition labels in promoting informed food choices suggests 'warning labels' can deter choice and consumption of even moderately unhealthy foods.

 

It also showed that 'summary ratings' like health star or Nutri-Score can help identify healthier variants among the available foods.

 

Summary labels provide a brief and concise overview of a product's key features and benefits, often including information about positive as well as negative nutrients. Warning labels, on the other hand, provide information about potential hazards associated with a product as they take into consideration the nutrients of concern like sugars, fats and salt.

10:11 PM

Indian Army announces a change in recruitment process for Agniveers

10:07 PM

India, France, UAE unveil plans for co-operation under trilateral framework

India, France and the United Arab Emirates on Saturday unveiled an ambitious roadmap for cooperation in a plethora of areas including defence, energy and technology under a trilateral framework, a move that comes amid the geopolitical turmoil triggered by the conflict in Ukraine.

 

The plan was finalised during a phone conversation among External Affairs Minister S Jaishankar, his French counterpart Catherine Colonna and UAE's Sheikh Abdullah bin Zayed Al Nahyan. READ MORE...

9:46 PM

LIVE: Fire breaks out in a factory in Gujarat's Umargam

9:25 PM

Adani row: Financial markets highly regulated, Centre monitoring situation, says BJP

Amid the raging controversy over Adani Group's stocks, the BJP on Saturday said financial markets are highly regulated and the Centre is closely monitoring the situation.

 

Stocks of the Adani Group have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.

 

The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

9:22 PM

P T Usha alleges security threat in her academy; breaks down before media

Legendary athlete and Indian Olympic Association (IOA) president P T Usha on Saturday broke down before the media alleging that illegal constructions were being carried out at her academy campus in Kozhikode district and strangers were trespassing into the property posing a security threat to the inmates.

 

Addressing a press conference in New Delhi, she said those at the Usha School of Athletics had been facing such harassment and security issues for some time and it has intensified after she became the Rajya Sabha Member.

 

Usha had been nominated to the Upper House by the BJP in July 2022.

9:12 PM

UAE set to host Asia Cup, venue to be finalised in March

The Asian Cricket Council will decide on an alternate venue for the Asia Cup ODI tournament in March after BCCI secretary Jay Shah and PCB chairman Najam Sethi had their first formal meeting in Bahrain on Saturday.

 

The Asia Cup was initially allotted to Pakistan and was scheduled in September this year but Shah, who is also the ACC chairman, had announced last October that India will not travel to Pakistan.

 

It is understood that United Arab Emirates with three venues -- Dubai, Abu Dhabi and Sharjah -- are favourites to host the tournament but the decision has been withheld for the time being.

9:05 PM

ASG Hospital's Rs 526-cr resolution plan for Vasan Eye Care gets NCLT nod

The National Company Law Tribunal (NCLT), Chennai, has given nod to a Rs 526-crore resolution plan of ASG Hospital for Chennai-based eye care chain Vasan Health Care.

 

Through an order passed on February 3, NCLT has cleared decks for ASG to take over the business of Vasan Eye Care, once dues to creditors, employees, and stakeholders are paid. As per the plan, dues will be cleared within 30 days from the date of approval. This was the first case admitted in Chennai under the Insolvency and Bankruptcy code.

8:49 PM

GSI team inspects J&K's Doda for ascertaining underlying factors for cracks in buildings

A team of experts from the Geological Survey of India (GSI) on Saturday inspected a village in Jammu and Kashmir's Doda district to ascertain the underlying factors for the development of cracks in nearly two dozen concrete buildings, an official said.

 

Doda Deputy Commissioner Vishesh Paul Mahajan said the GSI experts visited the affected Nai Basti village in Thathri tehsil to know the reason for the cracks in 19 residential houses, a mosque and a religious school for girls.

 

Mahajan, who along with other senior officers including Senior Superintendent of Police Abdul Qayoom met the affected families, said the GSI team will submit its report soon.

8:26 PM

ISRO-NASA built satellite ready to be shipped to India for launch

An earth-observation satellite jointly developed by NASA and ISRO that will help study Earth's land and ice surfaces in greater detail is all set to be shipped to India later this month for a possible launch in September.

 

ISRO Chairman S Somanath visited NASA's Jet Propulsion Laboratory (JPL) in the US state of California on Friday to oversee the final electrical testing of the NASA-ISRO Synthetic Aperture Radar (NISAR) satellite before being shipped to India.

 

This mission will be a powerful demonstration of the capability of radar as a science tool and help us study Earth's dynamic land and ice surfaces in greater detail than ever before, Somanath said at the formal send-off ceremony organised at the JPL which was attended by senior scientists from the two space agencies.

8:13 PM

Commodity bourse MCX's Q3 net profit up 12.56% at Rs 38.79 crore

Leading commodity bourse MCX on Saturday posted a 12.56 per cent rise in its consolidated net profit to Rs 38.79 crore for the third quarter ended December 2022.

 

Its net profit stood at Rs 34.46 crore during the same quarter of the previous fiscal, according to a regulatory filing.

 

The company's total income rose on a consolidated basis to Rs 163.65 crore in the December 2022 quarter from Rs 104.06 crore in the year-ago period. MCX largely offers derivatives in the non-commodity segment.

8:06 PM

Four women die in Tamil Nadu stampede during free distribution of sarees

Four women died in a stampede at Vaniyambadi in Tamil Nadu where a private organisation was distributing free sarees as part of the Thaipooyam festival celebrations.

 

Police said that around 1,000 women reached the place where the saris were being distributed. An stampede ensued leading to many women getting injured. Several women were admitted to a hospital in Vaniyambadi Taluk and four of them, who were serious, died in the hospital.

 

Many of the injured are serious. Police have commenced an investigation. Further details are awaited.

8:00 PM

IDFC First Bank to raise Rs 2,196 cr via preferential allotment of shares

IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore.

 

Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of Rs 58.18 per unit, including premium of Rs 48.18 per share, IDFC First Bank said in a regulatory filing.

 

The proposal is subject to acceptance of the offer by the board of IDFC and approval of the shareholders of the bank, it said.

7:59 PM

RP Sanjiv Goenka Group to invest Rs 10,000 cr in Uttar Pradesh

RP Sanjiv Goenka Group said it will invest Rs 10,000 crore in Uttar Pradesh. The announcement was made by group head Sanjiv Goenka during a meeting with Chief Minister Yogi Adityanath.

 

"Dr Sanjiv Goenka in a meeting today with the Honourable Chief Minister of Uttar Pradesh Shri Yogi Adityanath has announced an investment of Rs 10,000 crore in the state..," the group said.

 

Out of this, Rs 7,500 crore will be invested in renewables, while power distribution and retail sectors will receive Rs 1,000 crore each.

7:49 PM

Bharti Airtel acquires 23% stake in Indus Towers held by subsidiary Nettle Infra

Telecom operator Bharti Airtel has increased its direct stake in Indus Towers by acquiring 23.01 per cent shares held by its completely owned subsidiary Nettle Infrastructure, a regulatory filing said on Saturday. Bharti Airtel now holds 47.95 per cent stake in Indus Towers.

 

The telecom operator earlier directly held 24.94 per cent stake and 23.01 per cent through its subsidiary Nettle Infrastructure.

 

Bharti Airtel has acquired the 23.01 per cent stake of Indus Towers from Nettle to directly own 47.95 per cent in the mobile tower firm.

 

This is pursuant to the "composite scheme of amalgamation approved by the Hon'ble National Company Law Tribunal, Chandigarh bench, vide its order dated January 25, 2023 and becoming effective from February 1, 2023", the filing said.

7:21 PM

Indian regulators halt eye products production at Global Pharma Health Chennai site

Chennai-based Global Pharma Healthcare which has been under the scanner of the USFDA for potential bacterial contamination of its eye-drops, has been asked to stop production of its ophthalmic range of products at its site. A joint team of officials from the Central Drugs Standard Control Organisation (CDSCO) and State Drug Controller inspected the site on Friday.

 

In the joint investigation report (Business Standard has a copy of the report) the drug inspector CDSCO South Zone C Manivillavan and Deepa Joseph, senior drugs inspector, Kancheepuram zone, Director of Drugs Control, Tamil Nadu have noted that the manufacturer was instructed to stop manufacturing all products under the category of ophthalmic preparation until the completion of the investigation.

7:19 PM

Number of airports in country to go up to over 200: Scindia

The Civil Aviation Ministry has drawn up plans to boost air connectivity by taking the total number of airports operating in the country to over 200 over the next five-six years under its vision of increasing the 'width and depth of air penetration,' Minister Jyotiraditya Scindia said here on Saturday.

 

Scindia, here on a brief visit, said in its 67 years of independence the country saw only 74 new airports being built while in the last 8.5 years it has been increased to 147 under the Prime Minister Narendra Modi rule.

 

"We are just one short of doubling that number. The 148th airport will be also completed this month itself which means that what India took 66-67 years to build and under the leadership of Prime Minister Narendra Modi that has been done in a period of nine years." he told reporters.

7:08 PM

India, France and UAE unveil plans for cooperation under trilateral framework

India, France and the United Arab Emirates on Saturday unveiled an ambitious roadmap for cooperation in a plethora of areas including defence, energy and technology under a trilateral framework, a move that comes amid the geopolitical turmoil triggered by the conflict in Ukraine.

 

The plan was finalised during a phone conversation among External Affairs Minister S Jaishankar, his French counterpart Catherine Colonna and UAE's Sheikh Abdullah bin Zayed Al Nahyan.

 

A joint statement said it was acknowledged that defence is an area of close cooperation between the three countries.

6:46 PM

Thousands of orphans will get opportunity to study at DU free of cost: VC

Delhi University Vice Chancellor Yogesh Singh on Saturday stated that thousands of orphan children, including those who lost their parents to COVID-19, will get an opportunity to pursue higher education free of cost with the university's new initiative to reserve seats for them.

 

The vice chancellor said the university has been responsible for providing education to the students seeking higher education without any discrimination on any grounds.

 

The varsity recently decided to reserve seats in each of its undergraduate and postgraduate programmes for orphans under supernumerary quota from the next academic year.

6:39 PM

Pakistani drone carrying contraband shot down by BSF along Rajasthan border

A Pakistani drone carrying about 6 kg narcotics has been shot down by the Border Security Force along the International Border in Rajasthan on Saturday, a senior officer said. The flying machine was brought down during the intervening night of February 3-4 in Srikaranpur area of Sriganganagar sector of the state.

 

"A Pakistani drone along with two bags containing six packets of suspected narcotics, weighing about 6 kgs, has been recovered by a joint team of the force and local police," a BSF spokesperson said.

 

A similar drone carrying about 5 kg drugs was shot down by the border force in Punjab on Friday.

6:32 PM

Delhi govt seeks Rs 927 cr from Centre for G20 summit preparations

Delhi Deputy Chief Minister Manish Sisodia on Saturday wrote a letter to the Centre seeking a grant of Rs 927 crore to take up special development work for the G20 summit in the national capital.

 

In a letter to Union Finance Minister Nirmala Sitharaman, Sisodia said it will not be easy for the Delhi government to spend an extra Rs 927 crore from its limited resources for the G20 summit preparations.

 

Sisodia, who also holds the finance portfolio, also said the Delhi government will extend full cooperation to the Centre for successfully hosting the G20 summit. 

6:26 PM

National Security Advisor Ajit Doval to meet his UK counterpart Tim barrow in London today

National Security Advisor Ajit Doval to meet his UK counterpart Tim barrow in London today

6:19 PM

Committed to ensuring market integrity, says Sebi amid Adani crisis

Amid a raging controversy over a meltdown in Adani group stocks, regulator Sebi on Saturday said it is committed to ensuring the stock market's integrity and all necessary surveillance measures are in place to address any excessive volatility in individual shares.

 

Without naming the Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.

 

Officials confirmed that the statement has been issued in the wake of the Adani matter only. READ MORE...

5:50 PM

Axis Bank says it is comfortable with exposure to Adani Group

Axis Bank on Saturday said its exposure to Adani Group entities stood at 0.94% of its net advances on Dec. 31, adding that it remained comfortable with its exposure.

 

"Our exposure to Adani Group is primarily to the operating companies in the Ports, Transmission, Power, Gas Distribution, Roads, Airports etc," the bank said.

 

The Adani Group, led by billionaire Gautam Adani, is reeling from a U.S. short-seller's scathing report in January that has cratered its shares, prompted calls from opposition lawmakers for a wider probe and the central bank to check on banks' exposure to the conglomerate.

5:37 PM

Adani row: Indian regulators are very competent to handle the situation, says Piyush Goyal

Union Minister for Commerce and Industry Piyush Goyal on Saturday said regulators are very competent to handle the situation and will take appropriate action, regarding the allegations of fraud against billionaire Gautam Adani's companies that triggered an unprecedented stock crash.

 

He also termed the opposition stalling the Parliament's proceedings on the issue as "unfortunate".

 

"The regulators in India are very competent and our financial markets are amongst the most respected and well regulated markets in the world. As regards the loss, that's the share market's valuation loss, not the loss of any individual or people's wealth," Goyal told reporters here.

5:36 PM

Mansukh Mandaviya appointed as election co-incharge for Karnataka polls

5:36 PM

India will get into global bond indices on own terms: Official

India will not bend over backwards to get included in the global bond indices, a top finance ministry official said on Saturday.

 

Deploying a sartorial analogy, Finance Secretary TV Somanathan said the indices are an exclusive club or gymkhana, which insists on entry only for those wearing ties.

 

"...if we get into this club, it will be with our dhoti and saree. We will not change our domestic policies to suit foreign investors," he said, addressing a post-budget interaction with industry players in the financial capital.

 

He said there are both positives and negatives of such an inclusion, which was spoken about in a previous budget announcement, and India will not "bend over backwards" to gain entry.