YSR Congress president Y S Jaganmohan Reddy,
who opposed the bifurcation of Andhra Pradesh, plans to resume his
'Odarpu Yatra' (tour to console people) in Telangana and address a
public meeting in Khammam district soon, sources said. A decision to
this effect was taken at the Telangana district co-ordinators' review
meeting chaired by Y S Jagan Mohan Reddy, sources said. "He plans to
undertake his unfinished 'Odarpu Yatra' tour to all nine Telangana
districts, except Khammam, which he has already visited," YSRCP
spokesperson Gattu Ramachandra Rao told reporters here today. Dates and
tour details would be announced shortly, he said,
dismissing "propaganda" that the YSRCP had no base in the Telangana
region. Jaganmohan Reddy plans to "console" about 250 families in the
Telangana region, which would begin with a public meeting at Khammam, he
said. Jaganmohan had originally undertaken his tour to console
families of those who died of shock after the death of the late Y S
Rajasekhara Reddy. His tour had faced stiff resistance from rival
political parties and others in Telangana, due to the demand for
separate statehood in the region. Since a decision has been taken on
separate statehood for Telangana, the focus should now shift towards
development and YSRCP is going ahead on those lines, the spokesperson
said.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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