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India Claims 4th Place in Global Stock Market Rankings, Surpassing Hong Kong.

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Image Source: PTI

India secured the fourth spot in global market valuation, outpacing Hong Kong with a market capitalization of $4.3 trillion on January 22, according to Bloomberg. This achievement marks another triumph in India’s ongoing bull rally since hitting a multi-year low in March 2020. Contributing to this surge are global factors, including a shift toward a China-plus supply chain strategy, favoring India as a key alternative manufacturing source.

Internationally, the prolonged post-pandemic slowdown in China, juxtaposed with India’s resilient economic performance, has prompted increased fund allocation to the Indian market by international managers. Domestically, India stands out as one of the world’s fastest-growing major economies, driven by robust tax collections, controlled inflation, strong corporate earnings, and a stable currency.

The stark performance contrast between India and Hong Kong is evident, with India’s benchmark Sensex surging two-and-a-half times since March 2020, while Hong Kong’s Hang Seng index has seen a 33% decline. This exceptional outperformance, coupled with the listing of various companies, has propelled India to surpass Hong Kong in market capitalization.

Suman Bannerjee, CIO at Hedonova, sees India’s rise as a milestone, underscoring the nation’s economic resilience. He emphasizes that this achievement not only signifies numerical triumph but also positions India as a key player in the global financial arena, reflecting the country’s economic fortitude and promising prospects for investors navigating the vibrant Indian stock market landscape.

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Leopard Enters Home in North Delhi’s Wazirabad, Injures Three.

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Representational Image | Source: Eric Kilby (Flickr)

A startling incident unfolded in North Delhi’s Wazirabad as a leopard ventured into a house, leaving three individuals injured, officials reported.

The victims, identified as Mahender, Akash, and Rampal, encountered the unexpected visitor. Deputy Commissioner of Police (North) Manoj Meena revealed that upon receiving a distress call, the police team swiftly mobilized to Jagatpur village at Wazirabad, responding to the incident near Adarsh Nagar around 6.14 am. Forest officials were also alerted, and a collaborative effort ensued.

A team comprising seven officials from the forest department, fire department, and local police successfully contained the leopard in a room. Subsequently, the elusive feline was safely captured around 11.45 am, averting further harm.

Interestingly, this was not the first instance of a leopard’s incursion into the Jagatpur area, located adjacent to the Wazirabad Biodiversity Park. In 2016, a similar event occurred when an adult leopard strayed into the village. Following numerous sightings reported by residents, forest department officials managed to capture the wild cat and relocate it to the Rajaji National Park in Uttarakhand.

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New Delhi Breaks into Top 10 Cities Worldwide for Billionaires.

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Representational Image | Source: Pixabay

New Delhi has joined the elite club of the world’s top 10 cities with the most billionaires, making its debut at ninth place, with a total of 57 billionaires, as per the latest Hurun Rich List 2024. This marks a significant jump for the national capital, with an increase of 18 billionaires compared to the previous year.

Taking a closer look at the top 10 cities with the highest number of billionaires globally, New York leads the pack with 119 billionaires, followed by London with 97, and Mumbai with 92. Beijing, Shanghai, Shenzhen, Hong Kong, Moscow, and San Francisco also feature prominently on the list.

Mumbai, known as India’s financial powerhouse, has emerged as the fastest-growing billionaire city worldwide, further cementing its status as Asia’s billionaire capital. India, as a whole, welcomed 94 new billionaires, the second-highest after the United States. The country now boasts a total of 271 billionaires.

The surge in wealth among Indian billionaires can be largely attributed to key industries such as pharmaceuticals, automobiles, auto components, and chemicals. Collectively, Indian billionaires hold a staggering $1 trillion in wealth, accounting for 7% of the world’s total billionaire wealth. The average age of Indian billionaires is 67, with 19 of them being women.

Among the standout figures contributing to India’s billionaire club, Gautam Adani and his family have seen a significant increase in wealth, thanks to the success of their energy conglomerate, the Adani Group. Mukesh Ambani and his family have retained their position as India’s richest, with Mukesh Ambani being the only Indian to feature in the world’s top 10 richest individuals.

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New ATM Fraud in Delhi, Fraudsters Leave Their Number Written, Thousands Cheated.

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Representational Image | Source: Pexels

There’s a new sneaky trick scammers are using at ATMs, and it’s pretty clever (but not in a good way). So, this lady in Delhi, Apoorva, went to withdraw some cash from an ATM in Mayur Vihar. She pops in her card, and bam, it gets stuck! Classic move, right?

Now, here’s where it gets interesting. A guy hanging around offers to help and points her to a number written on the machine. She calls it, thinking it’s the bank’s helpline. But surprise, surprise, it’s not! The person on the other end pretends to be a bank agent and tells her to follow some steps to get her card out.

Long story short, she follows the instructions, and the machine goes “Out Of Service.” Meanwhile, the scammer asks for her phone number and convinces her to leave the card in the machine. After a while, she gets a message saying Rs. 21,000 has been debited from her account. Ouch!

Here’s the deal: scammers are using a liquid to make your card stick in the machine. Then, they’ve already written down a fake helpline number for you to call. When you call, they pretend to help but actually scam you. Sneaky, right?

So, if this ever happens to you, don’t fall for it! Dial 100 and get help from the police ASAP. Stay safe out there!

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