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

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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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Delhi Man Shot Dead an Hour Before Birthday After Hug From Attacker

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A 27-year-old man was shot dead in Shahdara, Delhi, late Friday night. Police said he was only an hour away from his birthday when the attack happened. He had gone out to meet a few men to sort out a recent fight.

Police said the shooter hugged him first and then fired at his head.

The firing took place around 11:09 pm near Chhotu Halwai Shop in V Block, Naveen Shahdara. After getting a call about gunshots, a police team reached the spot and found the victim, Gagan, lying with a bullet wound on his head.

Senior officers, local police staff, the Crime Team and forensic experts checked the area. Gagan’s body was taken to GTB Hospital.

Family members said Gagan had stepped outside to meet someone he knew.
His father, Ravi Kumar, told IANS, “He came down to meet the man. They hugged, and then the man shot him in the head. He even fired in the air. By the time I came down, my son was on the ground. I don’t know about any fight.”

Gagan was married and had a baby boy who was only 10 days old.

Police later said Gagan was known in the area for past cases. He had a bullet injury on his right temple and was declared dead at the hospital.

Two men had arrived on a motorcycle. One has been caught along with the bike, while the other is still missing.

Police said Gagan had a fight with the accused earlier, and they had met to settle the matter.

A case has been filed under the Bharatiya Nyaya Sanhita and the Arms Act. The police are looking into the case further.

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Delhi police find fake phone setup, seize more than 1,800 devices

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Delhi Police found a secret phone assembly setup in a narrow lane in Karol Bagh. Five men were caught, and officers took more than 1,800 phones along with software used to change IMEI numbers.

Police said this is one of the biggest cases of IMEI tampering seen in Central Delhi in recent months.

During questioning, the men said they bought old phones from scrap sellers and new outer parts from China. They joined old motherboards with new bodies to make the phones look fresh. After that, they changed the IMEI numbers with a tool called “WRITEIMEI 0.2.2”.

The group said they had been doing this for two years.

The local police team had been keeping an eye on the area for around 15 days after getting a tip. When they reached the building in Beedanpura, they found all five men working on phones and changing IMEI numbers with a laptop.

Police took 1,826 phones—both keypad and touchscreen—along with a laptop, IMEI software, a scanning tool, many phone bodies, and IMEI sticker sheets.

The men caught are Ashok Kumar (45), said to be the main person, along with Ramnarayan (36), Dharmender Kumar (35), Deepanshu (25), and Deepak (19). They were selling these changed phones in local markets.

An FIR has been filed under BNS sections 318(4) and 112, section 65 of the IT Act, and sections 42(3)(c) and 42(3)(e) of the Telecom Act, 2023.

Police are now checking how the parts were sourced, who supplied the motherboards, how the phones were moved to markets, and who else may be linked. Officers said more action may happen soon.

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Delhi Man Arrested After Woman Found Dead in His Car

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A late-night fight in Delhi’s Chhawla area ended in a crime that shocked the neighbourhood. A 44-year-old woman lost her life after her live-in partner, Virendra Singh, attacked her during a heated argument about his drinking.

Police say Virendra, 35, moved her body to his car soon after the fight. He wanted to take it somewhere far, but because he was drunk, he could not drive properly. He left the body in the back seat, went inside the house again, drank more, and fell asleep.

The next morning, a neighbour spotted the woman’s body inside a parked Swift car and alerted the police.

When officers reached the spot, they found injury marks and scratches on the woman’s face. Police later learned that the couple had been staying together for two years. Virendra, who is married and has children, had bought a three-floor house in Chhawla using money from the sale of the woman’s earlier home in Palam.

Around ?21 lakh from that sale was still with Virendra, which often became the reason for fights between them.

During questioning, Virendra accepted that he killed her. He said the fight started because she tried to stop him from drinking, and in anger, he pressed her neck with his elbow.

After this, he called two friends—a man and a woman—who helped him take the body down to the car. They left soon after.

Virendra tried to drive away to get rid of the body but only moved about 100 metres due to his drunken state. He then returned home and slept.

Police arrested him from the house. They are now looking for the two friends who helped him shift the body.

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