Latest news with #Vijayakumar
The Hindu
5 hours ago
- Politics
- The Hindu
Forum urges revocation of Gandhigram Institute of Rural Health and Family Welfare Trust's ‘Reframed Service Rules 2024'
Professors and educationalists through a forum named 'Save Gandhigram Rural Health Committee,' urged the institution for revocation of 'Reframed Service Rules 2024,' which were learned to be violating the welfare of the employees of the institution. P. Vijayakumar, former general secretary, Madurai Kamaraj, Manonmaniam Sundaranar, Mother Teresa, and Alagappa University Teachers' Association, said that the Gandhigram Institute of Rural Health and Family Welfare Trust was 100% funded under the Union Ministry of Health and Family Welfare. He added that as per the direction of the ministry, the institution must follow the rules and regulation of the Government of Tamil Nadu. But, from April 2024, the institution implemented the 'reframed service rule 2024,' which were framed by the institution without following the direction of the ministry, Mr. Vijayakumar alleged. As the new norms violated the original rules and regulations, the actions of the institution to terminate six teaching and non-teaching staff against the original norms were worrying, he observed. 'Even when the Tamil Nadu government increased the superannuation to 60 years, the new rule of the institution has refixed as 59 years for employees,' Mr. Vijayakumar pointed out. 'Application of fundamental rules is not included in the 'Reframed Service Rule 2024'. Instead of crediting 30 days earned leaves per year, only 12 days will be credited as per the new rules,' he stated. Elaborating on the rules pertaining to earned leave, he said, 'As per the old rules, for permanent employees the maximum limit of 240 days earned leave will be accumulated, but in new rules the earned leaves cannot be carried forward beyond one subsequent calendar year. At the expiry of the subsequent calendar year, the accumulated leave of the preceding calendar year will automatically expire. Further, no encashment of earned leave is permissible at any time.' 'Though the G. O (Ms) No 84, Human Resources Management ( Department, dated 23.08.2021 mandates maternity leave for 365 days the newly framed rules permit only 180 days,' he noted. In addition to this, structural annual increments and promotions have been delayed and denied unjustly since reframing the rules, he alleged. Stating the move by the institution as unjust, he said that it would affect the quality of the institution, which has played a major role in promoting public health in rural areas of the State. To maintain the institution's quality, the employees demand immediate revocation of the newly framed rules, he said.
Mint
8 hours ago
- Business
- Mint
FPIs turn sellers in June after 2-month buying streak. Will Iran-Israel tensions trigger more outflows?
Stock market today: Rising tensions in the Middle East appear to have caught the attention of overseas investors, who turned bearish on the Indian stock market in June after two consecutive months of net purchases. FPIs have alternated between buying and selling so far this month but have largely stayed on the sidelines in most sessions, withdrawing ₹ 4,192 crore through exchanges, according to NSDL data. The escalating conflict between Iran and Israel — with the U.S. now officially entering the war by launching attacks on Iran alongside Israel — has brought fresh concerns to Indian stock market, impacting the sentiment of overseas investors, especially as Indian stock market are already viewed as expensive compared to other Asian peers. Despite continued FPI selling, the Indian stock market has remained resilient in June so far, with both front-line indices gaining nearly 1%, thanks to strong support from domestic institutional investors (DIIs), primarily driven by mutual funds. DIIs acquired shares worth over ₹ 59,000 crore in June so far, following net purchases of ₹ 66,194 crore in May. Mutual funds alone contributed more than ₹ 35,900 crore in June, compared to ₹ 53,260 crore in the previous month. Although FPI inflows have fluctuated over the past six months, strong domestic buying has helped sustain market momentum — even amid heightened geopolitical tensions, global trade war concerns, and rich valuations. FPIs turned into net buyers in April by infusing ₹ 4,223 crore, according to the depositories data. Before this, foreign portfolio investors (FPIs) had pulled out ₹ 3,973 crore in March, ₹ 34,574 crore in February, and a substantial ₹ 78,027 crore in January. Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, "After a big buy figure of ₹ 19,860 crore in May, FIIs turned less confident in June, with bouts of selling and buying. Net FII activity in June till the 20th is a sell figure of ₹ 4,192 crore (NSDL)." He added that in the first half of June, FIIs were sellers in FMCG, power, consumer durables, and IT sectors, while they were buyers in financials, chemicals, capital goods, and real estate. 'The buying reflects fair valuations and good prospects in those segments, while the selling points to relatively high valuations and diminished outlook in others,' he explained. FIIs have also remained net sellers in the debt market. 'The yield differential between U.S. and Indian sovereign bonds is at a historic low of around 2%. Given the currency risk, investing in Indian bonds doesn't make sense currently, and this trend of FPI selling in bonds is likely to continue,' Dr. Vijayakumar noted. Vipul Bhowar, Senior Director – Listed Investments at Waterfield Advisors, stated that the trend of Foreign Portfolio Investment (FPI) reversed in April and strengthened considerably in May, marked by positive inflows. The inflows in May were the highest in eight months, indicating a resurgence of interest from foreign investors in Indian markets. However, he noted that geopolitical tensions, including the ongoing conflict between Israel and Iran, along with broader global uncertainties, have led to a cautiously optimistic approach in June. He added that improving domestic fundamentals and a favorable long-term growth outlook suggest that, if global conditions stabilize, India could witness more sustained and stable FPI inflows in the future. Vijayakumar, echoed this view, stating that global uncertainty dominated by geopolitics — particularly the war in West Asia — will continue to shape FPI activity going forward. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
India Today
12 hours ago
- Business
- India Today
Sensex tumbles 700 points: Why is the stock market falling today?
Benchmark market indices plunged in early trade on Friday after the United States carried out airstrikes on key nuclear facilities in Iran. This has triggered fresh geopolitical uncertainty and rattled investor sentiment around 9:31 am, the BSE Sensex was down 679.12 points, trading at 81,729.05, while the NSE Nifty50 fell over 199.30 points to 24,913.10. Broader market indices mirrored the slide, and volatility indicators jumped sharply, signalling a bumpy trading session the hardest-hit were IT stocks, with Infosys, TCS, HCLTech, and Shriram Finance among the top losers. Global growth concerns and rising geopolitical instability weighed heavily on the sector. In contrast, oil and energy stocks found some footing, buoyed by a spike in crude oil prices to a five-month high following the strikes. The market's sharp reaction underscores investor anxiety about potential supply disruptions in the Gulf region, especially if tensions escalate IN FULL PANIC MODE YETDr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that while the US bombing marks a serious escalation in West Asia, markets are still not in full-blown panic mode.'Even though the US bombing of Iran's three nuclear facilities has worsened the crisis in West Asia, the impact on the market is likely to be limited,' Vijayakumar uncertain factor now is the timing and nature of the Iranian response. If Iran targets and damages US defence facilities or harms American personnel, the fallout could be more severe. But for now, the market seems to believe that there are limits to how far Iran can retaliate.'According to him, despite the rise in crude prices and elevated tensions, the absence of panic in Asian markets and the muted reaction of US futures suggest that investors are still hoping for restraint from both also dismissed the possibility of a full closure of the Strait of Hormuz as largely unlikely, noting that such a move would hurt Iran and its allies more than the US or SHOULD INVESTORS DO?Amid the volatility, experts suggest that long-term investors stay calm and avoid knee-jerk reactions.'The market construct continues to favour a 'buy on dips' strategy,' Vijayakumar noted, pointing out that geopolitical shocks typically cause short-term turbulence but rarely derail long-term fundamentals, unless they lead to a sustained also recommend sticking with high-quality stocks, maintaining adequate liquidity, and avoiding leveraged bets. For those with a low risk appetite, it may be wise to wait for signs of stability before making fresh stocks may remain under pressure if global risk sentiment worsens, while energy and defence-linked sectors could see near-term tailwinds. Investors are advised to closely watch for signals from the US and Iran over the coming the full impact of the US-Iran escalation is yet to unfold, markets are clearly on edge. For now, investors will be closely tracking diplomatic developments and any signs of a retaliatory strike by the conflict deepens or oil supply chains are visibly disrupted, most experts believe the correction could be short-lived, offering opportunities for patient, long-term buyers.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Trending Reel
India Today
12 hours ago
- Business
- India Today
Will Iran close Hormuz Strait? What it means for oil prices in India and world
Oil prices jumped to a five-month high after Iran's Parliament approved a proposal to close the Strait of Hormuz. The final decision, however, rests with the country's Supreme National Security proposal comes shortly after the United States carried out major airstrikes on Iran's key nuclear facilities over the weekend, raising tensions in the region and leading to fears of a possible disruption to global oil Strait of Hormuz is a narrow waterway connecting the Persian Gulf with the Arabian Sea. It is one of the most important oil transport routes in the world. Nearly 20% of all global crude oil passes through this disruption to this route could cause a sharp rise in oil prices and affect countries across the world, especially those that depend heavily on oil imports like supertankers, Coswisdom Lake and South Loyalty, made sudden U-turns while passing through the strait after the recent US strikes, reported Bloomberg. Though such movement could be part of normal shipping behaviour, it underlines growing concerns in the shipping industry about the safety of vessels in the is currently no sea route alternative to the Strait of Hormuz. Countries like Saudi Arabia and the UAE do have oil pipelines that bypass the strait, but their combined capacity of around 6.8 million barrels per day is far less than the 20 million barrels that move through Hormuz COULD IT AFFECT OIL PRICES?If Iran does go ahead and block the Strait of Hormuz, oil prices could spike globally. Brent crude, which already rose on Monday, could see much sharper gains. According to a report by Goldman Sachs, if the flow of oil through the Strait is reduced by half for a month and remains down by 10% for another 11 months, Brent could briefly peak at around $110 per a more moderate scenario, where Iranian oil supply drops by 1.75 million barrels per day, Brent could reach a high of $90 per barrel, then ease to around $60-70 by 2026 as supply bank also said, 'While the events in the Middle East remain fluid, we think that the economic incentives, including for the US and China, to try to prevent a sustained and very large disruption of the Strait of Hormuz would be strong.'IMPACT ON INDIAFor India, a country that imports over 80% of its crude oil needs, any rise in oil prices is a matter of concern. Higher oil prices mean higher fuel costs, which can lead to inflation. It also puts pressure on the government's budget, as subsidies rise and the import bill becomes more Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, 'Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat and the Strait had never been closed. The fact is that the closure of Hormuz Strait will harm Iran and Iran's friend China more than anyone else.'Higher oil prices could also affect Indian industries that rely heavily on fuel, such as transportation, airlines, and manufacturing. Companies may pass on increased costs to consumers, pushing prices of goods and services LIKELY IS THE CLOSURE?While the approval by Iran's Parliament has raised alarm, actual closure of the Strait of Hormuz is seen as unlikely by many experts. Historically, Iran has not blocked the strait, even during past conflicts. This is mainly because Iran itself uses the strait for its oil exports. Disrupting this passage would harm its economy and affect its biggest buyer, which is the strait would also mean possible military escalation. It could involve laying mines, attacking ships, or launching cyberattacks. Any of these would likely trigger international responses, making the situation more dangerous for all premiums for ships passing through the region are expected to rise, increasing the cost of transporting oil and gas. This, in turn, could make everything from fuel to food more expensive situation in the Middle East remains tense and unpredictable. Much will depend on how Iran responds in the coming days. advertisement
India Today
14 hours ago
- Business
- India Today
Stock markets slide amid US-Iran tensions: Buy the dip or wait it out?
Domestic equity markets opened the week deep in the red, tracking losses across global markets after the United States launched airstrikes on key Iranian nuclear sites. This marks the most direct Western military action against Iran since the 1979 13 major sectors on the NSE opened lower, with IT and financials leading the losses. The weakness was in line with Asian peers, as global investors digested the possibility of further escalation in the Middle East, a region critical to global oil supply and prices spiked to a five-month high in early trade before cooling slightly, offering a cushion to energy stocks. But the broader market mood remained NEXT? Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that while the attack marks a significant geopolitical escalation, it may not necessarily spark a prolonged market sell-off unless Iran retaliates in a way that drags the US into a wider conflict.'Even though the US bombing of Iran's three nuclear facilities has worsened the crisis in West Asia, the impact on the market is likely to be limited,' Vijayakumar noted.'The uncertain factor now is the timing and nature of the Iranian response. If Iran targets and damages US defence facilities or harms American personnel, the fallout could be more severe. But for now, the market seems to believe that there are limits to how far Iran can retaliate.'advertisementHe also added that fears of the Strait of Hormuz being closed, a long-standing risk in oil markets, are overblown. 'That threat has never been executed. A closure would hurt Iran and its allies like China more than anyone else.'WHAT SHOULD INVESTORS DO?Despite the red start, analysts aren't sounding alarm bells yet. Most recommend staying calm and resisting the urge to sell into panic.'The market construct continues to favour a 'buy on dips' strategy,' said Vijayakumar. 'Geopolitical shocks usually cause short-term volatility, but unless they lead to sustained conflict, they rarely disrupt long-term fundamentals.'For now, investors are advised to stick to high-quality stocks, avoid leveraged positions, and maintain liquidity. Those with lower risk appetite may choose to wait for signs of stability before making fresh and defence stocks could benefit in the near term, while IT and export-oriented sectors may stay under pressure if global sentiment markets already at elevated levels, any spike in geopolitical risk tends to hit sentiment faster. For now, the key trigger will be how Iran chooses to respond and how much the US and its allies escalate then, this correction may well offer a buying opportunity, but only for those with the patience and risk appetite to weather some turbulence.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Trending Reel
