Rudra investment provides the best market analyzed the technical and derivative report, The benchmark indices settled marginally lower on Wednesday ahead of the expiry of September Futures and Options (F&O) contracts due on Thursday. The S&P BSE Sensex ended at 36,542, down 110 points while the broader Nifty50 index settled at 11,054, down 14 points. Among sectoral indices, the Nifty FMCG index fell 1.5 per cent led by a fall in ITC and Hindustan Unilever. The Nifty IT index, on the other hand, settled 1.9 per cent lower weighed by Infosys and Tata Consultancy Services (TCS).
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• New telecom policy aiming $100 bn investment, 4 mn jobs gets Cabinet nod.
• India to cut Iran oil import in Nov; Tehran may lose another major customer.
• Flipkart acquires Upstream Commerce to optimize pricing of products.
• HDIL reaches a settlement with Bank of India over dues worth Rs 5.11 bn.
SC declares Aadhaar constitutionally valid, strikes down some provisions :
The Supreme Court Wednesday declared the Centre’s flagship Aadhaar scheme as constitutionally valid but struck down some of its provisions including its linking with bank accounts, mobile phones and school admissions. A five-judge constitution bench headed by Chief Justice Dipak Misra held that while Aadhaar would remain mandatory for the filing of IT returns and allotment of Permanent Account Number (PAN), it would not be mandatory to link Aadhaar to bank accounts and the telecom service providers cannot seek its linking for mobile connections.
It would not be mandatory for school admissions, as also for the examinations conducted by the Central Board of Secondary Examination, National Eligibility cum Entrance Test (NEET) for medical entrance and the University Grants Commission.
The bench also struck down the national security exception under the Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016.
Observing that Aadhaar was meant to help the benefits reach the marginalized sections of society, it said the scheme takes into account the dignity of people not only from personal but from the community point of view as well and served the much bigger public interest.