1. Sensex falls for 3rd day in a row, ends 174 points down, Nifty settles below 7,750

Sensex falls for 3rd day in a row, ends 174 points down, Nifty settles below 7,750

The BSE Sensex and NSE Nifty fell for third day in a row on Wednesday as sentiment remained weak in the absence of any positive trigger amid weak Asian cues.

By: | New Delhi | Updated: January 6, 2016 4:58 PM
sensex, nifty, bse, nse

The BSE Sensex opened in negative terrain on Wednesday tracking global cues, while NSE Nifty traded below 7,800. (Photo: PTI)

The BSE Sensex and NSE Nifty fell for third day in a row on Wednesday as sentiment remained weak in the absence of any positive trigger amid weak Asian cues. The broader NSE index ended 0.56 per cent lower while the benchmark BSE index fell 0.68 per cent at close. Sensex settled the day 174.01 points down at 25,406.33, while NSE Nifty dropped 43.65 points to close at 7,741.00.

“Markets slipped sharply lower on account of huge selling pressure across the globe. Geopolitical risks posed by North Korea’s latest nuclear test and geopolitical tensions in the Middle East, China’s economic slowdown worries, weakening of rupee against dollar and weak global cues weighed on the sentiment of the street; thereby posting losses, ” Gaurav Jain, director, Hem Securities said.

Asian stocks markets fell on Wednesday and most emerging currencies retreated as China allowed the yuan to weaken further, stoking fears about its slowing economy, while a North Korean nuclear test heightened geopolitical tensions.

Oil fell to its lowest in more than 11 years on Wednesday, down around 2 per cent, as the row between Saudi Arabia and Iran was seen extinguishing any chance of major producers cooperating to cut production in the face of mounting global over supply.

Not much support came from Nikkei Services Purchasing Managers’ Index (PMI) that touched a ten-month high in December driven by a significant rise in new business orders but the overall health of the economy remains fragile amid a weak manufacturing sector.

In the 50-share index, Vedanta(down 3.95 per cent), ITC (down 3.03 per cent), Hindalco (2.60 per cent), ICICI Bank (down 2.53 per cent) and Tata Motors(down 2.52 per cent) were among the major losers. On the other hand, Reliance (up 2.38 per cent), Cipla (up 1.51 per cent), TCS (up 1.41 per cent), BPCL (0.95 per cent) and IndusInd Bank (up 0.80 per cent up) were among the top gainers.

ITC was the worst Sensex performer that slid 2.96 per cent followed by ICICI Bank that fell 2.59 per cent. Others losers included Tata Motors, M&M, Maruti Suzuki, Adani Ports, Asian Paints, ONGC, Hero MotoCorp, Lupin, L&T, Sun Pharma, Axix Bank and HUL

Metal sector stocks including Tata Steel, Vedanta Ltd and Hindalco too were at the receiving end after base metals retreated in global market.

“Key benchmark indices in India toed the flat line for most of the trading day before witnessing sharp selling pressure in afternoon trade. Plagued by fears of an economic slowdown in China, investors in India chose to ignore the Nikkei India Services PMI reading, which rose to a 10 month high of 53.6 in December, 2015. Metal, auto and FMCG stocks were under pressure with the respective sectoral indices losing 1.85 per cent, 1.36 per cent and 1.89 per cent. With oil prices hitting an 11 year low, energy stocks attracted some buying interest, ” Shreyash Devalkar, fund manager – equities, BNP Paribas Mutual Fund.

Bucking the trend, RIL gained the most by surging 2.67 per cent while Cipla gained 1.40 per cent. TCS, Coal India and HDFC Bank also rose by up to 1.75 per cent.

Sectorwise, the BSE FMCG index suffered the most by falling 1.57 per cent, followed by metal 1.48 per cent, capital goods 1.32 per cent, auto 1.24 per cent, realty 0.85 per cent and banking 0.81 per cent.

On the global front, Chinese markets rallied after two straight days of losses. Meanwhile, European markets were also down in their early trade as investor assessed the global growth outlook.

Markets through the day

3.30 pm: Sensex dips 174 points to close at 25,406.33. Nifty settles 43.65 points down at 7,741.

3.29 pm: Sensex falls 200.45 points at 25,379.89. NSE Nifty was trading 47.95 poinst down at 7,736.70.

3.17 pm: Bank of India shares were trading 0.04 per cent at Rs 114.20 after the public sector bank alloted 2 crore shares to LIC valued at Rs Rs 264.12 crore. Sensex was trading 183.47 points down at 25,396.87. NSE Nifty was trading 46 points down at 7,738.40.

2.46 pm: HMT shares were trading 11.36 per cent up at Rs 56.85 after government on Wednesday decided to close three unviable units of HMT including the once popular HMT Watches, along with HMT Chinar Watches and HMT Bearings, by offering an “attractive” voluntary retirement scheme (VRS) to the employees as per 2007 pay scales. Sensex was down 162.55 points at 25,417.79. NSE Nifty was trading 37.20 points down at 7,747.45.

2:23 pm: State Bank of India shares dropped 0.39 per cent on BSE and 0.30 per cent on NSE. SBI along with its associate bank State Bank of Travancore (SBT) has reportedly sold loans extended to a unit of Kohinoor Group, as the company is struggling to repay its liabilities primarily due to a slowdown in the real estate business.Sensex was trading 147.42 points down at 25,432.92. NSE Nifty was trading 45.30 points down at 7,739.35.

2.01 pm: Sensex was trading 144.21 points down at 25,436.13. NSE Nifty was trading 35.70 points down at 7,748.95. European stocks fell on Wednesday, hit by weakness in the commodity sector as concerns over the Chinese economy resurfaced after it allowed the yuan to weaken further. The FTSEurofirst 300 was down 0.6 percent at 1,402.07 by 0812 GMT, with basic resources stocks, including miners, down 2.4 percent, the biggest sectoral faller.

1.58 pm: Sensex was trading 84.55 points down at 25,495.79. NSE Nifty was trading 1.50 points down at 7,783.15. BSE Metal index was down 0.70 per cent.

1.47 pm: SRF Ltd shares were trading 5.57 per cent up at Rs 1351.20 after it said it would begin operating the Chennai plant in phases after the factory was temporarily shut last month due to flooding on heavy rainfall. Sensex was trading 15.87 points down at 25,564.47. NSE Nifty was trading 0.80 points up at 7,785.45.

1.28 pm: Sensex was trading with gains of 23.46 points at 25,603.80. NIfty was trading 12.45 points up at 7,797.10. BSE Oil and GAs index was up 1.44 per cent and BSE Energy index was up 1.92 per cent.

1.13 pm: Bharati Shipyard shares gained 4.96 per cent at Rs 33.85 after the company informed BSE that a meeting of the Board of Directors of the company will be held on Thursday to consider the allotment of convertible warrants to Non-Promoters on preferential basis. Sensex was trading 27.21 points down at 25,553.13. NSE Nifty was trading 5.15 points down at 7,779.50.

12.50 pm: Thiru Arooran Sugars stocks were trading 4.01 per cent up at Rs 46.70 after it informed the bourses that it has received Rs 232 crore as advance against export of sugar over the next 8 years. The advance received has been primarily used for repayment of the credit facilities availed by the company from various Banks. Sensex was trading 21.86 points down at 25,558.48. NSE Nifty was trading 3.45 points down at 7,781.20.

12.43 pm: Lack of definite cues continue to restrict the momentum as BSE Sensex and NSE Nifty trade with small gains and losses amid volatility. Sensex was trading 18.77 points down at 25,561.57. NSE Nifty was trading 0.15 points down at 7,784.50. BSE FMCG index down 1.15 per cent.

12.10 pm: Andhra Bank shares were trading 1.42 per cent up at Rs 64.40. Sensex was trading 8.61 points up at 25,588.95. NSE Nifty was trading 5.85 points up at 7,790.50.

11.49 am: SITI Cable Network shares were trading 3.23 per cent down at Rs 37.50 after the Essel group company on Wednesday said it plans to raise up to Rs 680 crore through issuance of warrants and optionally fully convertible debentures (OFCDs) to promoter companies. Sensex was trading 10.87 points down at 25,569.47. NSE N ifty was trading 0.75 points up at 7,785.40.

11.28 am: Glenmark Pharmaceuticals shares were trading 0.21 per cent up at Rs 934.75 after the company said it has received a tentative nod from the US health regulator for generic version of Sanofi-Aventis’ cardiac drug Multaq. Sensex was trading 17.51 points down at 25,562.83. NSE Nifty was trading 1.15 points down at 7,783.50.

11.10 am: RPP Infra Projects shares were trading 2.58 per cent up at Rs 111.20 after it received an order from Karnataka State Police Housing & Infrastructure Development Corporation for construction of 212 numbers of police quarters in Dharwad District under Police Gruha 2020 Scheme for Rs 30.50 crore. Sensex was trading 2.09 points down at 25,578.25. NSE Nifty was trading 2.95 points up at 7,787.60.

10.30 am: Sensex was trdaing 4.87 points up at 25,585.21. NSE Nifty was trading 1.50 points at 7,786.15. Narayana Hrudayalaya debuted at Rs 291.00 on the BSE, up by 41 points or 16.4% from its issue price of Rs 250. The scrip is currently trading at Rs 323.00 and has touched  a high and low of Rs 323.50 and Rs 291.00.

10.09 am: Sensex was trading 42.49 points down at 25,537.85. NSE Nifty was trading 14.25 points down at 7,770.40.

9.54 am: Indian rupee was trading lower by 22 paise at 66.82 against the dollar in early trade at the Interbank Foreign Exchange market on increased demand for the US currency from importers. Sensex was down 34.28 points at 25,546.06. NSE Nifty was trading 15.20 points down at 7,769.45.

9.38 am: Royal Orchid Hotels shares were trading 8.16 per cent up at Rs 108.65 after it informed BSE that SBI Mutual Fund has sold 22,98,035 shares constituting 8.4381 per cent of paid up share capital of Royal Orchid Hotels. Sensex was trading 42.14 points down at 25,538.20. NSE Nifty was down 17.05 points at 7,767.60.

9.24 am: Sensex was trading 62.46 points down at 25,517.88. NSE Nifty was trading 19.30 points at 7,765.35. SpiceJet shares were trading 1.04 per cent up at Rs 82.95 after the low-cost airline announced network expansion and flight frequencies on 10 routes, including extra services on the Delhi-Kabul sector.

9.15 am: The BSE Sensex opened in negative terrain on Wednesday tracking global cues, while NSE Nifty traded below 7,800. Sensex opens 68.89 points down at 25,511.45. NSE Nifty was trading 3.40 points up at 7,788.05. Piramal Enterprises shares were trading 1.99 per cent up at Rs 1006.

8.45 am: The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Wednesday tracking SGX Nifty and global markets.

At 8.42 am, SGX Nifty was trading 19 points down at 7,762.

Asia stocks were subdued early on Wednesday as floundering crude oil prices continued to dampen risk sentiment, while the dollar and yen drew support from anxiety over global growth and geopolitical risk stemming from Iran-Saudi tensions. Hang Seng and Nikkei were down 0.54 per cent and 1.21 per cent, respectively. Shanghai was up 0.24 per cent.

The Dow and S&P 500 finished slightly higher on Tuesday, stabilizing after a weak start to the new year, though investor nervousness stayed high.

On Tuesday, BSE Sensex and NSE Nifty closed lower in a choppy trade on Tuesday as overall market sentiment remained cautious due to continued worries about China stock markets. Sensex fell 43.01 points to end at 25,580.34, while Nifty shed 6.65 points to settle at 7,784.65.

Narayana Hrudayalaya will make its stock market debut on Wednesday and will be listed on both National Stock Exchange (NSE) as well as on the BSE.

Tags: NiftySensex
  1. H
    Harry Potter
    Jan 6, 2016 at 10:05 am
    Annus horribilis for L&T - Annus mirabilis for L&T executive, 3 of these failed executives are in 2015 Top-10 Highest Paid pro executives of India Inc. L&T bres have displa geriatric trait of biting more than they can chew. Later cry foul policies, political situations etc. Hydrocarbon projects losses of 900 cr, they concede it as error of judgment, underestimating risks, aggressive bidding, and overestimating capabilities. Cost overruns in Hyderabad/Riyadh metro, 5k cr of stagnating investment in defence - they want to build ‘India’s defence capabilities’ – please do BUSINESS of profits. GoI is under no obligation to commit fixed orders. Laxmi Mittal the steel magnet have no time to cry/blame - dead busy expanding his empire from north pole to south pole, no less India lover, still holds Indian Pport, will do business in India at right time. Why L&T is asking for VGF? Do your calculations bear risk – simple. Jeff Bezos – Amazon CEO- “when asked whether doing business was easy in India, he said, ''doing business is not easy anywhere. Every country has its quirks, differences and uniqueness, companies must work around them".-------------------------------------------------------------------------------------------------------------Even self-confessed Avatar Purush like Chairman A M Naik seems to be failing to manage L&T - Mr Naik's views on succession - why Mr Naik is slogging at 73 – Quote- You find a man in the world who will kill himself four times a day, has worked for more than a hundred years-- There is no such person.-- None of us here (at senior level) are working for money -UnQuote. LnT stock touched 18 month low of 1251 (Jan 04, 2016) , from peak of 1879 (July 10 2015). Lost whopping 30 percent in last 6 months. Net debt as on 30 Sep 2015, - 98 thousand crores. Would it hit 3 yr low of 722 in a quarter or two? People who have invested in L&T stock have either lost or gained less than zero risk FD investment in 5-6 years. Only exception are L&T top bres - LnT top-bres were on selling spree, Chairman Mr Naik sold his LnT shares worth 70 crores in 20 days - March 2014. Same is applicable to only other listed company of the group L&T Finance, not made any money for investors for last 6 years. No impacts on tenures of top bres nearly or above 70 yrs. All above age of 60 should be smoked out of L&T, Leave Now ! --------------------------------------------------------------------------------------------------------------------------------------------------------To quote Mr Naik "there is no bloody owner at L&T". It is not just Mr Naik L&T is personal fiefdom of a old-men club, it is divided between septuagenarians vertical wise - CEO Mr Vekataramanan (alas hanged boots, Sep 2015), responsible for hydrocarbon business and its heavy losses. Mr Magapu is responsible for stagnating IT business L&T Infotech and L&T Tech services, Mr Deosthali is CEO of L&T Financeholding, LnT Finance not made any money for shareholders in 6-7 yrs,, Mr MV Kotwal man in charge of L&T's defence forays, 5k crores of futuristic investment in defence is junking. These gentlemen are nearly/above 70. Please GOOGLE - L&T fraud / forgery / harment / risk / succession / default / corruption - to know more about blood curdling Egyptian Mummies. Like Satyam L&T was also barred by the World Bank over forgery. To quote Mr Naik "CEO and company are two sides of the same coin they represent each other. PM Mr Modi should intervene to restore insutional integrity at L&T. It is like BCCI a cozy club of septuagenarians, all above age of 60 should be smoked out of L&T. All above 60 at L&T Leave Now!. Career span of 50 years as paid employees in a company where state owned LIC/UTI are biggest stake holders - SCANDALOUS - in a country where millions are job less. PM Mr Modi, should intervene to fix retirement age at LnT from SCANDALOUS 75 to 60 - ASAP!! All and sundry above 60 at L&T, leading the pack Mr Naik (aged 73) Leave Now!!---------------------------------------------------------------------------------------------------------------Please allow me to give you all a glimpse (trailer) of a public sponsored circus - Gymnastics by 70 ton Gorillas and Dinosaurs on-going show at L&T please refer BS articles - L&T: International orders worth Rs 30,000 cr at risk - and - why analysts are angry with L&T. Some excerpts - What has angered analysts the most is that the company did not in any way prepare the market for a Rs 900 crore loss. - L&T calls it an error of judgment, as it underestimated risks and overestimated its own capability- Investors and analysts allege the company frequently changes the financial reporting structure, making year-on-year comparison difficult. Some exotic nonsense by geriatric in chief - why Mr Naik is slogging to find successor - " you find a man in the world who will kill himself four times a day, has worked for more than a hundred years;--The day you find such a man he is my successor." - Mr Naik is right, well chronicled life span in modern times is 122 years. On one hand top-bres are taking their compensation and retirement to the highest level possible, on other hand FIRING young talented employees - Please GOOGLE --"Cl Action Suit Seeks $100 Million for Pregnancy Discrimination, Other Violations".Can employees, investors, analyst TRUST these dinosaurs - All and sundry above 60 Leave Now!!-----------------------------------L&T in melting - devil or the deep blue sea - stake or post losses. L&T in melting - devil or the deep blue sea - stake or post losses. Complete stake at Dhamra Port (Rs 2500 crores) to Adani group saved LnT from posting losses in q1-2014. LnT Inra stake to Canadian FII (2000 crores) saved LnT from posting losses in q2-2014. LnT Finance not made any money for shareholders in 6-7 yrs, 10% stake sold to Bains, 1300 crores. Kuttapali Port deal final with Adani. On a look out to sell Rajpura Power plant – cost 9600 crores. Plans to sell 15% stake at LnT Infotech to raise 2k crores. Threatened to pull out from Hyderabad Metro 16 k crores, LnT opts out of GAIL tender to build LNG carrier, ss Kachchigarh Gujarat port project. L&T’s commercial real estate project in Chandigarh sold to Carnival Group – Rs 1785 crores. LnT Halol Shamlaji Tollway defaults on Rs 1014 crore loan. LnT Chennai Tada Tollway defaults on Rs 475 crore loan. Inherent malignancies – Hydrocarbon and Ship Building losses of Rs 900 cr each, Hyderabad Metro cost overruns Rs 4k crores, Rs 5k crores stagnating investment in Defence. Financial mismanagement charges see a dozen leaving L&T Hydrocarbon arm. Aging CXO-MD potion of septuagenarians, leading the pack 73 yrs old Chairman Mr Naik completed 50 yrs with LnT as Paid Employee. LnT stock touched 18 month low of 1270, from peak of 1879 - Total consolidated debt 98 thousand crores - would it hit 3 yr low of 722 in a quarter or two? ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- L&T Chairman (aged 73) Mr Naik-s brainchild, LnT Infotech is stunted juvenile. Founded as LnT-IT in late 80s, renamed to LnT Infotech in 1997 claiming to touch $1 billion in revenues since 2010 – still not there. Cognizant founded in 1997 is more than $10 billion in revenues. Sans DNA destruction of work culture and mockery of corporate governance at LnT, LnT Infotech could be what TCS is for TATAgroup companies, a great saviour for old-economy TATA companies. LnT Infotech a proven laggard, in news for failed attempt to bid for Satyam, Patni, Polaris, Hexaware, rumoured sell off to Fujitsu. Perennial entry/exit of lateral CXOs, listing gimmicks – it’s in shambles. Year 1999, Mr Naik appointed CEO of LnT group, Infosys headcount in March 2000 nearly 5k, now nearly 1.7 lakhs and LnT Infotech is nearly 20k. What policy paralysis, RBI rates etc Mr Naik wants to blame for this most dismal performance in IT space? LnT has failed to cut even 1% of IT business pie of $116 billion in India. LnT Infotech in IT space for more than quarter of a century (25 years) and not even $1 billion in revenues, headcount less than 20k! Please GOOGLE – white collar criminal equivalent of rape and murder- “Cl Action Suit Seeks $100 Million for Pregnancy Discrimination, Other Violations”. All and sundry above 60 at L&T Leave Now!!-------------------------------------------------------------------------------------------------L&T is an example of brazen disregard for merit and professionalism , a mockery of corporate governance. L&T legacy of true founders Danish engineers Mr Ln and Mr Toubro is in clutches of despotic geritocracy. Leading the pack of engineers who joined L&T in 60s is Chairman Mr Naaik. State owned LIC and UTI are biggest stakeholders, upto 10 and 17% each. Mr Naik's views on succession - why Mr Naik is slogging at 73 – QUOTE- You find a man in the world who will kill himself four times a day, has worked for more than a hundred years-- There is no such person.-- None of us here (at senior level) are working for money -UNQUOTE. Please refer ToI article – Vibrant Gujarat summit Day 1: 25 private jets bring high-flyers. Excerpts –Cabinet ministers arrived via scheduled flights -- private jet of AM Naik left immediately after arriving –. State owned LIC/UTI are biggest stakeholders at L&T, PM Mr Modi should intervene to restore insutional integrity at L&T and fix retirement age to 60. It is like BCCI a cozy club of septuagenarians, all above age of 60 should be smoked out of L&T. Please GOOGLE - L&T fraud / forgery /harment / risk / succession / default to know more about blood curdling Egyptian Mummies. Like Satyam L&T was also barred by the World Bank over forgery. PM Mr Modi should intervene to restore insutional integrity at L&T. It is like BCCI a cozy club of septuagenarians, all above age of 60 should be smoked out of L&T. All above 60 at L&T Leave Now.---------------------------------------------------------------------------------------------- 3 of the failed executives of sinking ship L&T are in list of 2015 top ten highest paid pro executives of India Inc, leading the pack Chairman Mr Naik 27 crores. Cost of public sponsored circus at L&T - number ofCxOs/MDs at L&T and all its subsidiaries (138)- their CTC? Just CEO (Mr Venkatraman alas retired Sep 2015) and Executive chairmen of L&T pegged at Rs 14 and 27 crores, Mr Dubhashi of L&T Finance 21 crores only. KUMBH-MELA factories of old to very-old CXOs/MDs. L&T top bres have displa geriatric trait of biting more than they can chew and digest, than they are putting blame on policies etc. Where they not aware of Telengana movement? Now asking VGF - blackmailing newly formed state, threatened to pull out. How many farmers get Viability Gap Funding before committing suicide? They have implemented international hydrocarbon projects at losses of 900 crores, they concede it as error of judgment, underestimating risks, aggressive bidding, overestimating capabilities. 5000 crores they have invested in defence, again crying foul on name of policies. Biggest shareholders at LnT are state owned LIC/UTI. PM Mr Modi should intervene to fix retirement age at LnT to 60 - ASAP. All and sundry above 60 at L&T Leave Now!!----------------------------------------------------------------------------------------------------------------------------------------------------------------Frank De Souza appointed CEO of Cognizant at 38, HRD Minister Ms Irani 38, Vivek Murthy, Surgeon General - US, is 37. Vishal Sikka, Infosys CEO 46, Cyrus Mistry TATA top-man 44, N Chandrasekaran appointed CEO of TCS at 46, Raghuram Rajan appointed RBI Governor at 50, Indira Nooyi appointed CEO of PEPSI at 50. Rajeev Suri, CEO Nokia 47. Arun Sarin appointed CEO of Vodafone at 50. Staya Nadel, CEO Microsoft 46, Ajaypal Singh Banga appointed CEO Master Card at 50. Tulsi Gabbard, youngest woman in the US to be elected to a state legislature at age of 21. India got its first PM born post independence. Avg age of India in 2020 will be 29. Credit goes to Charcoal Colored Hair (Eyebrows) and White Elephant Syndrome. L&T is plagued with A MaN made leadership crisis. L&T is India Inc's biggest Geritocracy - (by, for and of Geriatrics), leading the pack Chairman Mr AM Naik, oldest (aged 73, compensation 27 crores) one of the highest paid ‘professional’ honcho in India Inc. Mr Naik's views on succession - why Mr Naik is slogging at 73 – Quote- You find a man in the world who will kill himself four times a day, has worked for more than a hundred years-- There is no such person.-- None of us here (at senior level) are working for money -UnQuote. Please refer ToI article – Vibrant Gujarat summit Day 1: 25 private jets bring high-flyers. Excerpts –Cabinet ministers arrived via scheduled flights -- private jet of AM Naik left immediately after arriving –. State owned LIC/UTI are biggest stakeholders at L&T, PM Mr Modi should intervene to restore insutional integrity at L&T and fix retirement age to 60. It is like BCCI a cozy club of septuagenarians, all above age of 60 should be smoked out of L&T------------------------------------------------------------------------------------------------------------------------Here is the list of lateral CEOs who left L&T, Dr Panda (L&T Tech Services) of scam tainted Satyam is an exception ---Its a Catch-22 situation young insiders are not good enough for the top jobs at LnT and its subsidiaries, outsiders (laterals) cant with stand Despotic Gritocracy the old-men club. Top-men-eater Egyptian Mummies. Infotech ex-CEO Mr Banerji, two last joint CEOs Mr Chopra and Dr Aghi – QUIT. Mr Ravi Uppal CEO LnT Power (Mr Naik's potential successor)–QUIT. CEO LnT General Insurance Mr Joydeep Roy – QUIT. CEO LnT MF Mr Sanjay Sinha – QUIT. Old-men club is singing this bad chorus and opera a distorted version remix of Brayan Adams songs - 18 till I die and Summer off 69 - oh ya!. The band joined LnT some time in 60s. This public sponsored deafening cacophony and distortion should be stopped.--------------------------------------------------------------------------------------------------------------------Please GOOGLE - L&T fraud / forgery / harment / risk / succession / default / corruption - to know more about blood curdling Egyptian Mummies. Like Satyam L&T was also barred by the World Bank over forgery. PM Mr Modi should intervene to restore insutional integrity at L&T. It is like BCCI a cozy club of septuagenarians, all above age of 60 should be smoked out of L&T. All above 60 at L&T Leave Now!
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