Month: April 2025

Indian stock indices closed the week on a sour note, extending losses from the previous session. They were weighed down by the Trump reciprocal tariffs and the uncertainties surrounding them.

Sensex closed at 75,364.69 points, down 930.67 points or 1.22 per cent, while Nifty closed at 22,904.45 points, down 345.65 points or 1.49 per cent, respectively. At one point, Sensex dropped over 1,000 points, only to erase some losses before the day’s closing. IT, metal, pharma, realty, oil and gas, were the top losers today, data showed.

The Sensex slumped about 2,100 points this week when the Trump administration implemented reciprocal tariffs on trading partners as part of the “Fair and Reciprocal Plan”. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.

Equity markets worldwide slumped after US President Donald Trump’s sweeping trade tariffs stoked fears of an all-out trade war and a global economic recession.

“Global equity markets witnessed a sharp selloff in the aftermath of the US imposing reciprocal tariffs on most major economies. Indian Indices outperformed, as Indian markets did not react as much as other markets yesterday, following the news flows on tariffs,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Vinod Nair, Head of Research, Geojit Investments, said, “The recent implementation of higher-than-anticipated U.S. tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications. The likelihood of retaliatory measures against the U.S. has further heightened uncertainty.”

“Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected. As Q4 approaches, a sequential improvement in corporate performance is anticipated. However, prevailing weak market sentiment suggests that the phase of consolidation may persist in the near term,” Nair added.

The US President issued an executive order on reciprocal tariffs, imposing additional ad valorem duties ranging from 10 percent to 50 percent on imports from all trading partners.

The baseline duty of 10 percent will be effective from April 05, 2025, and the remaining country-specific additional ad valorem duty will be effective from April 09, 2025.

The additional duty on India is 27 per cent. (ANI)

Actor Sara Ali Khan recently took a spiritual trip and visited the Kamakhya Temple in Guwahati to offer her prayers.

The actress shared pictures from her pilgrimage on Instagram, giving fans a glimpse of her peaceful moments at the holy site.

Sara posted a series of pictures where she was seen wearing a white chikankari salwar kurta. Along with the pictures, she shared a poem, encouraging her fans to slow down and embrace life.

“Moments of stillness amidst the perpetual flow. A purposeful reminder to breathe and go slow. Listen to the whispers of the river, feel the suns glow. Wander deep, embrace life and allow yourself to grow,” read the caption of her post.

Meanwhile, on the work front, Sara was recently seen in Sky Force, a film directed by Sandeep Kelwani and Abhishek Kapur. The movie stars Akshay Kumar in the lead role, along with debutant Veer Pahariya.

In the coming months, the audience will see Sara sharing screen space with Aditya Roy Kapur in Metro In Dino. Helmed by Anurag Basu, the anthology film also stars Ali Fazal, Fatima Sana Shaikh, Anupam Kher, Neena Gupta, Pankaj Tripathi, and Konkona Sen Sharma in lead roles.

Sharing more details about the film, Basu, in a press note shared by the film’s team, had earlier said, “Metro In Dino is a tale of the people and for the people! It has been a while since I have been working on this one and I am glad to be collaborating with a powerhouse like Bhushan Kumar yet again, who has always been like a pillar to me!”

“The storyline is very fresh and relevant, and I look forward to collaborating with amazing artists who bring that essence of contemporary aura with them. As music plays a very important role in any film, I couldn’t be happier to be collaborating with my dear friend Pritam, who has added life to the characters and story with his work,” he added. (ANI)

The wait is finally over! Rajinikanth’s film ‘Coolie’ has got a release date.

On Friday, the makers announced that the film would hit the theatres on August 14, 2025.

“Sound-ah yethu! Deva Varraaru #Coolie worldwide from August 14th,” a post on official X account of Sun Pictures read.

The production house shared a thrilling poster of the upcoming film featuring Rajinikanth. He could be seen sporting a bearded look.

Directed by Lokesh Kanagaraj, Coolie also stars Upendra, Akkineni Nagarjuna, Soubin Shahir, Sathyaraj, and Shruti Haasan among others.

Rajinikanth also has ‘Jailer 2’ in kitty.

On the occasion of Makar Sankranti, the makers officially announced the film’s sequel with a special promo featuring director Nelson Dilipkumar and music composer Anirudh Ravichander.

Nelson expressed his gratitude to Rajinikanth and announced the film on X with a caption that read, “Immensely happy to announce my next film #Jailer2 with the one and only #Superstar #Thalaivar @rajinikanth sir and with my favourite @sunpictures #Kalanithimaran sir and my dearest loving friend @anirudhofficialand thanks to my team @KVijayKartik @Nirmalcuts @KiranDrk #pallavisingh #chethan @kabilanchelliah #suren (sic).”

The first part was released in 2023. (ANI)

All India Majlis-e-Ittehadul Muslimeen Chief and Hyderabad MP Asaduddin Owaisi has approached the Supreme Court against the Waqf Amendment Bill 2025.

The bill passed in both Lok Sabha and Rajya Sabha now awaits President Droupadi Murmu’s assent to become an act.

All India Muslim Personal Law Board, in a post on X, vowed to hold protests nationwide against the Bill.

“The government’s stance regarding the Waqf Amendment Bill 2025 is regrettable. The All India Muslim Personal Law Board will soon undertake nationwide protests and legal action against the Waqf Amendment Bill 2025,” the AIMPLB said.

Earlier today, Congress Lok Sabha MP Mohammed Jawed moved the Supreme Court against the Waqf Amendment Bill.

Congress MP and party General Secretary in charge of Communications Jairam Ramesh today announced that the party will soon challenge the “constitutionality” of the Waqf Amendment Bill in the Supreme Court after it was passed in the Parliament in the early hours today.

In a post on the social media platform X, the Congress leader outlined the party’s ongoing legal actions, stating that the party was already challenging several laws in the Supreme Court, including the Citizenship Amendment Act (CAA) of 2019, amendments to the Right to Information (RTI) Act of 2005, and amendments to the Conduct of Election Rules (2024). Additionally, the party is intervening in the court to uphold the Places of Worship Act, 1991.

“The INC’s challenge of the CAA, 2019, is being heard in the Supreme Court. The INC’s challenge of the 2019 amendments to the RTI Act, 2005, is being heard in the Supreme Court. The INC’s challenge to the validity of the amendments to the Conduct of Election Rules (2024) is being heard in the Supreme Court. The INC’s intervention to uphold the letter and spirit of the Places of Worship Act, 1991, is being heard in the Supreme Court. The INC will very soon be challenging the constitutionality of the Wakf (Amendment) Bill, 2024, in the Supreme Court,” Ramesh said.

Parliament passed the Waqf Amendment Bill 2025 in the early hours of Friday after a marathon and heated debate.

Rajya Sabha sat beyond midnight to pass the legislation. Chairman Jagdeep Dhankhar said, “Ayes 128 and Noes 95, Absent zero. The Bill is passed.”

Lok Sabha, which took up discussion on the Waqf (Amendment) Bill on Wednesday, passed it past midnight after a marathon debate with 288 MPs voted in favour of the Bill while 232 against it.

The government introduced the revised bill after incorporating the recommendations of the Joint Parliamentary Committee, which examined the legislation introduced in August last year. The bill seeks to amend the Act of 1995 and improve the administration and management of Waqf properties in India.

The Bill aims to overcome the shortcomings of the previous act and enhance the efficiency of Waqf boards, improving the registration process and increasing the role of technology in managing waqf records. (ANI)

The Bharatiya Janata Party (BJP) on Friday launched a blistering attack on West Bengal Chief Minister Mamata Banerjee, holding her responsible for large-scale corruption in the state’s school recruitment process.

In a press conference here today, BJP leader Sambit Patra asserted that accountability would be ensured under the rule of law and stated that if the BJP came to power in West Bengal, Mamata Banerjee would face legal repercussions.

“Didi jail jayengi, albat jayengi. Hindustan mai kanoon ka shasan hai. The day BJP forms a government in Bengal, the full force of the law will be brought upon Mamata Banerjee,” he said.

The party’s remarks came a day after the Supreme Court upheld the Calcutta High Court’s order cancelling the appointment of over 25,000 teachers and non-teaching staff due to recruitment irregularities.

Addressing the press conference, BJP leader Sambit Patra alleged that Mamata Banerjee’s administration has institutionalised corruption and suppressed probes into the scam.

“A few days ago, Mamata Banerjee went to Oxford and called herself a tigress. But no tigress engages in corruption. The way her government has allowed corruption to flourish in Bengal, lakhs of people have suffered,” he said.

Patra attacked CM Mamata Banerjee’s government and said that the Supreme Court had itself said that credibility and legitimacy had been denuded under her governance.

“The Supreme Court, in its verdict delivered by Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar, found serious manipulation in the recruitment process conducted through the School Service Commission (SSC). The apex court stated that the entire selection process was vitiated by manipulation and fraud. Credibility and legitimacy have been denuded,” stated Patra.

“The Calcutta High Court, in its April 22, 2024, ruling, had declared 25,780 recruitments invalid after discovering that OMR sheets were tampered with and undeserving candidates were selected in exchange for bribes. The court had also ordered a CBI probe into the scam,” he said.

Patra further attacked the Trinamool Congress (TMC) government for allegedly obstructing investigations, saying, “When the CBI began probing the scam, Mamata Banerjee and her party leaders attacked the agency to shield the corrupt.”

Questioning the silence of the opposition, Patra asked, “Had such serious allegations been made against any NDA Chief Minister, Rahul Gandhi would have raised a storm in Parliament, calling it the ‘murder of democracy.’ Where is he now? Where are the INDI Alliance leaders?”

Predicting legal consequences for Banerjee, Patra declared, “Didi jail jayengi, albat jayengi. Hindustan mai kanoon ka shasan hai. The day BJP forms a government in Bengal, the full force of the law will be brought upon Mamata Banerjee.”

The SSC recruitment scam is one of the most high-profile corruption cases in Bengal, with multiple arrests and allegations of bribes in job allocations. The BJP has vowed to continue pressing for accountability, making corruption a central issue in its political battle against the TMC.

The Supreme Court on Thursday upheld the Calcutta High Court’s decision to quash the recruitment of more than 25,000 teachers and non-teaching staff by the West Bengal School Service Commission (SSC) in 2016 for the state-run and aided schools.

The bench of Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar found that the West Bengal SSC’s selection process was based on large-scale manipulations and fraud.

“In our opinion, this is a case wherein the entire selection process has been vitiated and tainted beyond resolution. Manipulations and frauds on a large scale, coupled with the attempted cover-up, have dented the selection process beyond repair and partial redemption. The credibility and legitimacy of the selection are denuded”, the apex court bench stated in its judgement.

The apex court found no reason to interfere with the direction of the High Court that the services of “tainted” candidates must be terminated, and they should be required to refund any salaries/payments received.”Since their appointments were the result of fraud, this amounts to cheating. Therefore, we see no justification to alter this direction”, the bench added.

The top court’s verdict came on a petition filed by the West Bengal government challenging an April 2022 order of the Calcutta High Court, which had cancelled the recruitment of more than 25,000 teachers and other staff for state-run and aided schools. The top court reserved its verdict in the matter on February 10.

The Court further clarified that because the entire recruitment process was vitiated, the candidates whose recruitment was “untainted” will also have to be terminated. However, such candidates will not have to refund any payments made to them.

The top court granted liberty to “untainted” candidates to reapply to their previous jobs in their respective state departments. In such cases, the court stated, they will receive their previously held jobs in their respective departments.

As regards candidates whose appointments are cancelled but who are not classified as “tainted” and have previously worked in different state government departments or autonomous bodies, the Court stated that such candidates can apply to return to their former positions. (ANI)

The Budget Session of Parliament, which began on January 31, 2025, has officially come to a close with both Houses being adjourned sine die today.

Both houses will now reconvene during the Monsoon session of Parliament; however, the dates have not been announced yet.

Rajya Sabha Chairman Vice-President Jagdeep Dhankhar, during his valedictory remark in the 267th session of the upper house, extended his gratitude towards the members of the house for their “active participation and valuable contribution”.

“Hon’ble Members, we have come to the conclusion of a very productive 267th session of the Sabha. As we conclude the sitting of the session, I extend my gratitude to each one of you for your active participation and valuable contribution,” Dhankhar said.

He noted that the house functioned for 159 hours during the session, bringing its productivity to 119 percent.

He stated that the House had its longest-ever sitting on Thursday, April 3, starting at 11 am on April 3 and continuing until 4:02 am on April 4. He further stated that a record 49 private members’ bills were also introduced in the upper house.

“Overall, House functioned for a total of 159 hours, including more than 4 hours after midnight. The productivity of this session stood at 119 per cent. On 03.04.25, RajyaSabha began its proceedings & held its longest-ever sitting from 11 AM to 4:02 AM the next day, marking a historic milestone,” the Rajya Sabha Chairman said.

“Record 49 private member’s bills were introduced in the Upper House. Rajya Sabha Chairman thanks everyone and appreciates the efforts taken by members and staff alike,” he added.

Meanwhile, Lok Sabha Speaker Om Birla said the lower house of Parliament underwent 26 sittings from the commencement of the Session on January 31.

“We are at the end of the fourth session of the 18th Lok Sabha. This session started on January 31, 2025. In this session, we had 26 sittings, and the total number was about 118 per cent,” Birla said while addressing the lower house during his closing remarks.

During the session, 10 government bills were introduced, and 16 bills, including the Waqf Amendment Bill and the Mussalman Wakf (Repeal) Bill, were passed.

One of the standout points of this session was the passing of the Waqf Amendment Bill of 2025.

The Parliament passed the bill in the early hours of Friday after a marathon and heated debate.

Dhankhar said, “Ayes 128 and Noes 95, Absent zero. The Bill is passed.” The House sat beyond midnight to pass the legislation.

The Lok Sabha, which discussed the Waqf (Amendment) Bill on Wednesday, passed it past midnight after a marathon debate.

The government introduced the revised bill after incorporating the recommendations of the Joint Parliamentary Committee, which examined the legislation introduced in August last year. The bill seeks to amend the Act of 1995 and improve the administration and management of waqf properties in India.

The Bill aims to overcome the shortcomings of the previous act and enhance the efficiency of Waqf boards, improving the registration process and increasing the role of technology in managing waqf records.

The Budget Session of the Parliament was convened in two parts; it commenced on January 31 and went on till February 13. The second part of Parliament’s budget session began on March 10. (ANI)

Nadeem Akhtar, another JD(U) leader resigned from the party making him the fifth member to leave over the party’s support for the Waqf Amendment Bill.

His resignation follows that of four other leaders, including JD(U) leader Raju Nayyar, Tabrez Siddiqui Alig, Mohammad Shahnawaz Malik and Mohammed Kasim Ansari.

Earlier, JD(U) leader Raju Nayyar wrote in his resignation, “I resign from JD(U) after Waqf Amendment Bill is passed and supported in the Lok Sabha.”

He went on to express his deep disappointment with the party, stating, “I am deeply hurt by the JD(U) voting in favour of this black law, which oppresses Muslims.”

“I resign from the post of former state secretary of JD(U) youth and primary membership of the party. I request to send a letter to the Honorable CM Nitish Kumar and relieve me from all responsibilities,” he added.

The All India Muslim Personal Law Board (AIMPLB) had urged all secular political parties, including BJP allies and MPs, to oppose the Waqf Amendment Bill.

In a letter addressed to JDU National President and Bihar Chief Minister Nitish Kumar, Tabrez Siddiqui Alig expressed deep disappointment, stating that the party had “betrayed the trust of the Muslim community.”

While, in his letter, Mohammad Shahnawaz Malik wrote, “Millions of Indian Muslims like us had the firm belief that you are the flag bearer of purely secular ideology. But now this belief has been broken.”

Mohammed Kasim Ansari stated that he was resigning as the party’s stance on the Waqf Amendment Bill had “deeply hurt” millions of Muslims.

The resignations comes at a critical time for JDU, as Bihar gears up for the assembly elections.

The Parliament passed the Waqf Amendment Bill 2025 in the early hours of Friday after a marathon and heated debate. Rajya Sabha Chairman Jagdeep Dhankhar said, “Ayes 128 and Noes 95, Absent zero. The Bill is passed.” The Mussalman Wakf (Repeal) Bill, 2024, has also been passed in the Parliament. (ANI)

US President Donald Trump’s 27 pc tariff on gems and jewellery industry will cause a disruption in the industry as US is one of the major exporting destinations for India, says Industry experts.

The US accounts for nearly one-third of India’s USD 32 billion gem and jewellery exports. With the new tariffs, products like cut and polished diamonds, which previously faced no duty, will now attract 27 per cent tariff.

Gold and platinum jewellery will face 32-34 per cent duty, while silver jewellery could be taxed as high as 40.5 per cent. Other items such as lab-grown diamonds and imitation jewellery will also see significant hikes, going up to 38 per cent.

According to Ramit Kapur, Managing Director of GSI India, the hike will hurt major categories like cut and polished diamonds and studded gold jewellery, which constitute a large share of exports.

However, he added that “Despite the challenges, high-value studded jewellery will remain resilient, as discerning US buyers prioritize quality, craftsmanship, and certification–areas where India excels. However, pricing and competitiveness will be pressured, requiring Indian manufacturers to adapt. Demand for studded jewellery continues to be robust, but this tariff change calls for quick action by policymakers as well as industry captains to ensure India continues to lead the global jewellery market”.

Rajesh Rokde, Chairman, Gem and Jewellery Council of India (GJC) said “Tariffs are more than economic measures; they redefine the dynamics of trade partnerships. The gem and jewellery sector, with its reliance on delicate global collaborations, faces challenges that call for strategic foresight. It’s not just about navigating the cost but understanding how these shifts recalibrate the competitive landscape globally,.”

However, Saurabh Gadgil, CMD of PNG Jewellers, said domestic businesses like his won’t be impacted as India does not import jewellery from the US. He added that the tariff hike may also hurt the US economy, as it imports many goods from Asia that will now become costlier, potentially leading to inflation and slower growth.

He said, “More importantly, this policy will affect the entire world, and not just the United States. Thus, reciprocal reactions are awaited and Indian players need to see how this unfolds in the days to come”

Experts also warn that Indian exporters, especially small businesses, may lose share in US markets to other countries not facing these duties. They urge quick action from Indian policymakers to protect the country’s leadership in the global gems and jewellery trade. (ANI)

Kolkata Knight Riders became the first team in the Indian Premier League’s history to register 20-plus wins against three different teams following their resounding victory over Sunrisers Hyderabad in the ongoing edition of the cash-rich league.

Kolkata stood triumphant after executing the blueprint for success against the Sunrisers to perfection on their home turf. The Knight Riders pummelled and silenced the Pat Cummins-led side with an emphatic 80-run success.

As KKR got its hands on the second win of the season, the defending champions became the first team to secure 20-plus wins against three different sides. Kolkata boasts 20 victories each against Sunrisers Hyderabad and Royal Challengers Bengaluru. KKR has also stood victorious a whopping 21 times against Punjab Kings in the cash-rich league.

KKR’s dominance began after SRH skipper Cummins put them to bat. Their decision initially paid off after they sent Quinton de Kock and Sunil Narine back to the dressing room for single digits, reducing KKR to 16/2.

However, the momentum swung in KKR’s favour following a swift counterattack led by skipper Ajinkya Rahane (38 in 27 balls, with a four and four sixes) and Angkrish Raghuvanshi (50 in 32 balls, with five fours and two sixes).

The Sunrisers momentarily bounced back after KKR lost the two stars in a flurry. Venkatesh Iyer (60 in 29 balls, with seven fours and three sixes) and Rinku Singh (32* in 17 balls, with four boundaries and a six) took the brunt on their shoulders and powered KKR to 200/6 in their 20 overs with a 91-run stand for the fifth wicket.

SRH’s pursuit of 201 was derailed in the powerplay after losing its top order in the powerplay. Vaibhav Arora (3/29) and Varun Chakravarthy (3/22) stood out, as only Heinrich Klaasen (33 in 21 balls, with two fours and two sixes) and Kamindu Mendis (27 in 20 balls, with a four and two sixes) posed a threat to Kolkata’s supremacy.

With this win, KKR’s campaign is somewhat back on track, with two wins and two defeats. They are in the fifth spot. SRH are at the bottom with a win and three losses. (ANI)

After two Muslim leaders resigned from the party over its stance on the Waqf Bill, another leader from the party, General Secretary of the JD(U) Minority Department, Tabrez Siddiqui Alig also resigned in protest on Friday.

In a letter addressed to JDU National President and Bihar Chief Minister Nitish Kumar, Siddiqui expressed deep disappointment, stating that the party had “betrayed the trust of the Muslim community.”

The General Secretary of the JD(U) Minority Department, Mohammad Tabrez Siddiqui, wrote in his letter, “I believed that JDU would always stand for secularism, social justice, and the protection of minority rights. But supporting this bill has shaken my faith.”

“I never expected that JDU would support this bill. Some people close to your party have brought JDU to such a state that it has deviated from its basic principles. This type of decision has been taken against the Muslim community that supported the party for the last 19 years. This act is a betrayal of the trust of millions of supporters who repeatedly made you reach the post of Chief Minister,” the letter said.

Concluding the letter, the leader stated, “My conscience does not allow me to stay in JDU anymore. I am resigning from the party with immediate effect.”

This resignation comes at a critical time for JDU, as Bihar gears up for the assembly elections.

Earlier, JDU’s Minority State Secretary and Mohammad Shahnawaz Malik announced his resignation through a letter addressed to party president Nitish Kumar.

In the letter, Malik wrote, “Millions of Indian Muslims like us had the firm belief that you are the flag bearer of purely secular ideology. But now this belief has been broken.”

He said the way JDU MP Lallan Singh supported the bill in the Lok Sabha has deeply hurt the sentiments of Muslims. “We are deeply saddened by the attitude and style in which Lallan Singh gave his speech and supported this bill,” Malik said.

Meanwhile, Mohammed Kasim Ansari in his resignation letter to Bihar Chief Minister and JD(U) chief Nitish Kumar, said that the party’s stance on the Waqf Amendment Bill had “deeply hurt” millions of Muslims.

“With due respect, I wish to state that millions of Indian Muslims like me had unwavering faith that you were a true flagbearer of secular ideology. However, that belief has now been shattered. The stand taken by JD(U) regarding the Waqf (Amendment) Act 2024 has deeply hurt millions of dedicated Indian Muslims and party workers like me,” Ansari wrote.

The Parliament passed the Waqf Amendment Bill 2025 in the early hours of Friday after a marathon and heated debate. Rajya Sabha Chairman Jagdeep Dhankhar said, “Ayes 128 and Noes 95, Absent zero. The Bill is passed.” The Mussalman Wakf (Repeal) Bill, 2024, has also been passed in the Parliament. (ANI)