On the back of a positive business outlook, Gokdaldas Exports’ stock hit an all-time high of Rs 505.65 on the BSE in intra-day trade on Wednesday. The company’s stock, which is in the textiles and apparel business, has surpassed its previous high of Rs 488, which it reached on May 5, 2022. It has outpaced the market by 30 percent in the last month, compared to a 4 percent fall in the S&P BSE Sensex.…
Throughout the night, Severe Cyclonic Storm Asani proceeded west-northwestwards at a pace of 5 mph across west-central and adjacent southwest Bay of Bengal, bringing severe rains to parts of the Andhra Pradesh coast.
It was about 300 kilometers southeast of Kakinada (Andhra Pradesh), 330 kilometers south-southeast of Visakhapatnam (Andhra Pradesh), 510 kilometers south-southwest of Gopalpur (Odisha), and 590 kilometers south-southwest of Puri (Odisha) at 5:30 a.m. on Tuesday, according to an India Meteorological Department (IMD) bulletin.
“It is very likely to move nearly northwestwards till tonight and reach the west-central Bay of Bengal off north Andhra Pradesh coast. Thereafter, it is very likely to recurve north-northeastwards and move towards the northwest Bay of Bengal off north Andhra Pradesh and Odisha coasts,” the IMD stated, “It is likely to weaken gradually into a Cyclonic Storm during next 24 hours.”
Light to moderate rainfall with isolated heavy to very heavy rainfall is expected across coastal Andhra Pradesh during the day, and severe rainfall is expected over coastal Odisha beginning Tuesday evening.
On Wednesday, the IMD predicts light to moderate rainfall with heavy to very heavy rainfall in isolated areas over north coastal Andhra Pradesh and heavy rainfall in isolated areas over coastal Odisha and bordering coastal West Bengal. Similarly, on May 12, mild to moderate rainfall is expected over coastal portions of Odisha and West Bengal, with heavy rainfall in isolated spots.
Due to the high sea conditions and gale force winds, the IMD has advised fishermen to suspend all fishing operations across the westcentral and surrounding Bay of Bengal on Tuesday and Wednesday, and the northwest Bay of Bengal till May 12.