Now Bengal govt plans to remove Guv as pvt varsity visitor

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Kolkata, May 28 | After taking a step towards replacing West Bengal Governor Jagdeep Dhankhar with Chief Minister Mamata Banerjee as the Chancellor of state universities, the state government is now considering closing the doors of private universities for the Governor.

Sources said that a process has started to remove the governor from the chair of visitor in private universities and replace him with the state Education Minister Bratya Basu.

“The state cabinet members have in-principally agreed on this initiative and now the proposal will be placed in its next meeting for clearance, following which the government will moot a bill on this count in the floor of the Assembly,” one of the sources from the state Education Department said.

And in case the Governor disagrees to clear the bill then the state government might introduce the new system through an ordinance, the source added.

The state government has already announced that they might adopt this ordinance route in case of the proposed bill on replacement of the Governor with the Chief Minister.

The proposal was cleared by the cabinet on May 26 and a formal announcement on this count was made by Basu on the same day.

Under the existing rule, the Governor, as the visitor of private universities, when present, can preside at the convocation of the university for the purpose of conferring degrees, diplomas, awards and certificates of other academic distinctions.

The visitor also has the power to call for any paper or information relating to the affairs of the university.

The opposition parties have criticized the development and described the initiative as ruining the autonomous nature of the state universities.

The announcement also invited criticism from a section of educationists in the state.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

Share Market Closing Bell: Nifty ends above 15,500, Sensex gains 443 pts

On a weekly expiry day, Nifty opened on positive note and have a dip to make an intraday low at 15367.50 level but showed bounce back moment as managed to close at 15556.65 level with a gain of 143 points. Bank Nifty closed the session at 33135 level with a gain of 289.70 points. 45 Out of Nifty 50 ended in green which suggest broad based buying.

All the sectoral indices managed to close in green expect Energy while Nifty Auto was top gainer. Among Nifty Stock, MARUTI, EICHERMOT, HEROMOTOCO & M&M were the top gainers, While RELIANCE, COALINDIA, POWERGRID & GRASIM were the prima laggards. India VIX closed at 20.88 level with a loss of 1.97%. On Technical Front, The Nifty has formed bullish candle but faced resistance at 21 Four-Hourly Moving Average i.e., 15647 which suggest crossing above the same can show more upside rally.

Nifty has been trading in range of 15200-15700 level while breaching either side can suggest further direction of breakouts. Nifty has given above 50-Hourly Moving Averages which indicate it can show upside moment in the counter. On the Nifty OI Data, On the call side ,the highest OI witnessed at 16000 level while on the put side was at 15500 Niftg level followed by 15300 levels. The momentum indicators Stochastic is trading with a positive crossover on a daily chart which suggest northward journey in the Nifty.

The Nifty may find support around 15200 levels while on the upside 15700 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32300 levels while resistance at 33800 levels.

Overall, Sector specific momentum has been observed, crossing above 15700 Nifty can show more upside rally.

Market entering into buy on dips pattern.

Palak Kothari
Senior Technical Analyst
Choice Broking

Source: Choice India

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