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Current Affairs 23 July 2019

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Current Affairs 23 July 2019

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Current Affairs is a type of broadcast journalism where the emphasis is on detailed analysis and discussion of news stories that have recently occurred or ongoing at the time of broadcast. The article Current Affairs 23 July 2019 includes News summary on current events of International, National, Education, Banking, Markets, Sports, Awards, Appointments and Books importance of 23 July 2019.

shape International

Massive protests held in Puerto Rico after governor refuses to step down

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Key Highlights
  • Hundreds of thousands of people have taken to the streets in Puerto Rico to demand the resignation of the island's embattled governor, Ricardo Rosselló.

  • It comes a day after Mr. Rosselló said he would not step down over a leaked online chat in which he and top aides exchanged obscenity-laced messages.

  • He said he would leave office next year, at the end of his term.
The US government is introducing a new fast-track deportation process that will bypass immigration courts.

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Key Highlights
  • Under the new rules, any undocumented migrants who can't prove they've been in the US continuously for more than two years can be immediately deported.

  • The policy is expected to be published on Tuesday, and then implemented across the country with immediate effect.

  • However, the American Civil Liberties Union (ACLU) rights group has said it plans to challenge the policy in court.
Conservative leadership - Johnson and Hunt await result of vote

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Key Highlights
  • Either Boris Johnson or Jeremy Hunt will become the new Conservative leader on Tuesday as the result of the contest to succeed Theresa May is announced.

  • The outcome of the ballot of about 160,000 Tory members will be revealed at just before midday in London.

  • The victor will officially become prime minister on Wednesday.

  • Mr. Johnson, a former mayor of London, is seen as the clear favorite although a number of senior figures have said they will not serve under him.
South Korea fires warning shots at Russian warplanes

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Key Highlights
  • The three Russian planes had entered the South Korean air defense identification zone with two Chinese military planes.

  • South Korean jets fired warning shots after a Russian military plane violated South Korea’s airspace on July 23, Seoul officials said, in the first such incident between the countries.

shape National

PM Modi asked me to mediate between India and Pakistan on Kashmir - Trump

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Key Highlights
  • U.S. President Donald Trump on Monday offered to mediate the decades-long Kashmir dispute between India and Pakistan, saying Prime Minister Narendra Modi had asked him to.

  • "I was with Prime Minister Modi two weeks ago and we talked about this subject and he actually said 'Would you like to be a mediator or arbitrator', I said 'Where', He said 'Kashmir'.

  • Because this has been going on for many, many years," Mr. Trump said at the White House, where he was hosting Pakistan's Prime Minister Imran Khan.
Amit Shah counters opposition charge that amendments will pack NHRC with ‘yes men’

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Key Highlights
  • The Protection of Human Rights (Amendment) Bill, 2019 was cleared by a voice vote in the Rajya Sabha amid criticism from the Opposition that the legislation will ensure that only the government’s nominees are appointed to the National Human Rights Commission. The Bill was cleared by the Lok Sabha on Friday.

  • Responding to the criticism, Union Home Minister Amit Shah said at the conclusion of the debate that such an apprehension was unfounded. “The chairperson is not appointed by Prime Minister on recommendation of Home Minister.
Opposition accuses the government of trying to dilute the effectiveness of the law

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Key Highlights
  • The Lok Sabha on Monday passed the Right to Information (Amendment) Bill, 2019 three days after it was introduced. It seeks to amend the landmark transparency law and bring in changes involving the salaries and tenures of Information Commissioners (ICs) at the States and Centre.

  • As per the amendment ICs — who currently have five-year tenures — will have “terms as may be prescribed by the central government” and salaries, instead of being on par with that of Election Commission officials, will be decided by the Central government.
Rajya Sabha disrupted over Sonbhadra killings, Karnataka political crisis

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Key Highlights
  • Rajya Sabha witnessed repeated disruptions on Monday as opposition members raised slogans over the Sonbhadra killings, the political crisis in Karnataka and mob lynchings.

  • Proceedings were washed out in the first half of the session, with opposition MPs from the Congress, SP, BSP, DMK, TMC, CPI and CPI(M) among others, raising slogans since the start of the day. Earlier Congress MPs staged a protest outside Parliament against the Sonbhadra incident.

shape Banking

RBI's accommodative stance will depend on economic data

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Key Highlights
  • The Reserve Bank of India’s Governor Shaktikanta Das said policy makers have effectively delivered more easing than the three interest-rate cuts this year suggest, signalling a more cautious stance on future action.

  • In his interview, Das said he sees signs of a recovery in economic growth and further monetary policy steps will depend on incoming data.

shape Markets

Today Markets live Updates
  • Kotak Mahindra Bank Q1: Profit jumps 32.7 percent to Rs 1,360.2 crore versus Rs 1,024.9 crore, NII grows 22.8 percent to Rs 3,173 crore versus Rs 2,582.9 crore YoY; gross NPA inches up at 2.19 percent versus 2.14 percent, net NPA falls to 0.73 percent versus 0.75 percent QoQ.

  • TVS Motor Company Q1: Profit falls 2.9 percent to Rs 142.3 crore versus Rs 146.6 crore, revenue rises 7.2 percent to Rs 4,468.6 crore versus Rs 4,168.4 crore YoY.

  • United Spirits Q1: Profit jumps sharply to Rs 197 crore versus Rs 81 crore, revenue rises 10 percent to Rs 2,218 crore versus Rs 2,009 crore YoY.

  • Coromandel International Q1: Profit dips 30.8 percent to Rs 62.43 crore versus Rs 90.21 crore, revenue declines 15.7 percent to Rs 2,130.7 crore versus Rs 2,528.45 crore YoY.

  • Mastek Q1: Profit slips 11.7 percent to Rs 24.2 crore versus Rs 27.4 crore, revenue slips 7.3 percent to Rs 247.5 crore versus Rs 267.1 crore QoQ.

  • Kirloskar Ferrous Industries Q1: Profit jumps to Rs 18.39 crore versus Rs 10.46 crore, revenue falls to Rs 482 crore versus Rs 496.3 crore YoY.

  • Lakshmi Machine Works Q1 Consolidated profit dips to Rs 10.5 crore versus Rs 35.7 crore, revenue falls to Rs 458.8 crore versus Rs 587.9 crore YoY.

  • Allsec Technologies Q1: Consolidated profit at Rs 11.92 crore against loss Rs 1.87 crore; revenue rises to Rs 67.38 crore versus Rs 66.34 crore QoQ.

  • Can Fin Homes Q1: Profit jumps to Rs 80.98 crore versus Rs 73.22 crore, total income from operations increased to Rs 484.14 crore versus Rs 402.63 crore YoY.

  • Aptech Q1: Profit falls to Rs 3.08 crore versus Rs 3.56 crore, revenue falls to Rs 51.56 crore versus Rs 51.74 crore YoY.

  • Cupid Q1: Net profit at Rs 8.2 crore versus Rs 4.5 crore, revenue at Rs 34.1 crore against Rs 17.3 crore, YoY

  • TVS Motor Singapore to invest USD 7 million in Scienaptic Systems, an AI-powered decision platform

  • Just Dial Q1: Profit surges 48.8 percent to Rs 57.3 crore versus Rs 38.5 crore, revenue increases 13.6 percent to Rs 240.2 crore versus Rs 211.4 crore YoY.

  • Vadilal Industries: Rajesh Gandhi has resigned from the post of Chairman of the company w.e.f. July 22, 2019, appointed Vijay Shah as chairman.

  • Bandhan Bank: Bank appointed Sanjeev Naryani as Head - Business.

  • Alpha (India): Company received a contract of Rs 0.72 crore from Mineral Exploration Corporation Ltd for the survey of minerals.

  • BSE signs MoU with the Shanghai Stock Exchange.

  • Gokaldas Exports: ICRA revised the long term rating for the captioned Line of Credit from BBB- (Outlook Stable) to BBB (Outlook Positive) and the short term rating for the captioned Line of Credit from A3 to A3+.

  • KEI Industries: ICRA reaffirmed the rating assigned to long term bank facilities as A/Stable.

  • Any close below 11,250 levels would lead to an extension of the fall towards 200 day SMA which is placed around 11,100 levels.

  • Mitessh Thakkar of mitesshthakkar.com recommends buying Asian Paints with a stop loss of Rs 1386 and target of Rs 1440 and Zee Entertainment above Rs 368 with the stop loss of Rs 363 and target of Rs 382.

  • At the end of June 2019, promoter shareholding in private sector lender was 19.78 percent, out of which Rana Kapoor and his wife held 11.88 percent

  • Revenue of the company jumped 97 percent at Rs 34.13 crore against Rs 17.28 crore.

  • The project will be implemented by BUIDCO with financial assistance from the World Bank under the NMCG

  • CLSA maintained its buy rating but raised its target to Rs 1,750 from Rs 1,665 earlier. The global brokerage firm is of the view that lower funding cost is likely to aid growth but valuation remains rich

  • The company now have a total of 99 ANDA approvals (88 final approvals and 11 tentative approvals) from USFDA.

  • The management sounded cautious on the industry, saying 2-wheeler growth is expected to remain negative for rest of fiscal due to muted economic activity

  • The top gainers from NSE include Power Grid, UPL, Infosys, Titan Company and ITC while the top losers are HDFC, Zee Entertainment, Adani Ports, HDFC Bank, and Bajaj Auto.

  • Nomura also maintained buy call on the stock with a target price at Rs 765 per share. It said the company is the most cost-effective SME advertising platform relative to peers

  • According to Angel Commodities, on Monday, spot gold rose marginally by 0.01 percent to close at $1424.7 per tonne. Gold prices were pressurized after markets expected a smaller rate cut which supported the Dollar.

  • The company has lower penetration compared to the leader which provides higher scope for further growth.

  • We have incorporated the latest numbers to our models for the company and continue to remain positive for the company.

  • We expect the sales and profitability momentum of Aditya Birla Fashion to persist.

  • KR Choksey is bullish on Tata Elxsi has recommended buy rating on the stock with a target price of Rs 1008 in its research report dated July 19, 2019.

  • KR Choksey is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2683 in its research report dated July 22, 2019.

  • HDFC Securities is bullish on Dabur India has recommended buy rating on the stock with a target price of Rs 470 in its research report dated July 22, 2019.

  • Arihant Capital recommended hold rating on TVS Motor with a target price of Rs 399 in its research report dated July 23, 2019.

  • Arihant Capital recommended hold rating on Bandhan Bank with a target price of Rs 528 in its research report dated July 22, 2019.

  • Arihant Capital recommended hold rating on Dabur India with a target price of Rs 446 in its research report dated July 19, 2019.

  • Arihant Capital recommended accumulating rating on ACC with a target price of Rs 1736 in its research report dated July 19, 2019.

  • Sharekhan is bullish on HDFC Bank has recommended buy rating on the stock with a target price of Rs 2750 in its research report dated July 22, 2019.

  • Motilal Oswal is bullish on Larsen and Toubro Finance Holdings has recommended buy rating on the stock with a target price of Rs 140 in its research report dated July 22, 2019.

  • Motilal Oswal is bullish on Future Lifestyle Fashions has recommended buy rating on the stock with a target price of Rs 575 in its research report dated July 22, 2019.

  • Despite the big names disappointing traders, there are stocks that have encouraged brokerages to raise target price on them

  • We expect volatility to inch higher this week as participants will unwind and rollover their derivatives positions due to schedule F&O expiry on July 25

  • Prabhudas Lilladher recommended hold rating on TVS Motors with a target price of Rs 405 in its research report dated July 22, 2019.

  • Dolat Capital is bullish on Dhanuka Agritech has recommended buy rating on the stock with a target price of Rs 526 in its research report dated July 22, 2019.

shape Sports

17-yr-old shooter Manu Bhaker gets admission in Lady Shri Ram College

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Key Highlights
  • CWG 2018 gold medallist shooter Manu Bhaker will pursue Political Science at the Lady Shri Ram College in Delhi.

  • The 17-year-old will pursue the course under the sports quota. "Congratulations to our young #shooting champion.

  • Our TOPS athlete has won gold medals at CWG and various World Cup and has earned quota for 2020 Olympics," Sports Authority of India tweeted.

shape Awards

Carnatic vocalist S. Sowmya selected for Sangita Kalanidhi Award 2019

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Key Highlights
  • The Music Academy’s Executive Committee unanimously selected Carnatic vocalist S. Sowmya for Sangita Kalanidhi Award 2019.

  • She will preside over the 93rd annual conference of The Music Academy which is scheduled to be held from December 15, 2019 to January 1, 2020.

shape Appointments

Kalraj Mishra sworn in as the new Governor of Himachal Pradesh

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Key Highlights
  • Former Union Minister of Micro, Small and Medium Enterprises & a veteran Bharatiya Janata Party (BJP) leader Kalraj Mishra, aged 78, was sworn in as the 26th governor of Himachal Pradesh replacing Acharya Devvrat, who has been transferred and appointed as the Governor of Gujarat. The oath taking ceremony was held at Raj Bhawan, Shimla.

  • He had resigned as the Minister for Micro, Small and Medium Enterprises in 2017 after he crossed the age of 75 beyond which BJP leaders are barred from occupying official posts and cannot contest elections.
Acharya Devvrat sworn in as governor of Gujarat

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Key Highlights
  • Indian politician Acharya Dev Vrat(60) sworn in as the 20th governor of Gujarat. He took the oath in Sanskrit. He succeeded Om Prakash Kohli.

  • He has been associated with arya samaj pracharak and served previously as the principal of a Gurukul in Kurukshetra, Haryana.

shape Books

Author Sunil Mishra’s book ‘Who Stole My Job enters second print Run’

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Key Highlights
  • India’s leading publishing house Srishti publishers and distributors announced the second print of ‘Who Stole My Job’ by nationally acclaimed author SunilMishra.

  • The book was first released in April 2019 and has received a very positive response from readers across the globe.

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