Market Outlook: Inflation, FII, economic data key triggers for next week
The market outlook for next week will be guided by key macroeconomic data and the last round of Q2 earnings.
CPI-M leader and former Kannur district panchayat president, PP Divya, who was arrested on Tuesday in connection with the death of Kannur Additional District Magistrate (ADM) Naveen Babu and remanded in judicial custody for 14 days by the Taliparamba Judicial First Class Magistrate Court, filed a bail application in the Thalassery Principal Sessions Court on Wednesday.
The court, after reviewing her petition, will request a police report on the matter. Meanwhile, Naveen Babu’s family has indicated their intent to formally oppose Divya’s release on bail.
In her bail plea, Divya introduces further arguments, contending that the police investigation lacks clarity. She asserts that the investigation report references a statement from District Collector Arun K Vijayan, who noted that Naveen mentioned an unspecified “mistake” before his death. However, the police report has failed to clarify this remark, leaving a critical aspect unaddressed.
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On Tuesday, the Principal Sessions Court in Thalassery had rejected Divya’s anticipatory bail plea, citing that “the circumstances themselves disentitle her to the relief of pre-arrest bail.”
The court observed that Divya’s actions were allegedly premeditated, intending to insult and humiliate a respected, high-ranking government official.
Following the court’s decision, Divya was taken into custody and remanded for 14 days. She is currently housed in the women’s section of Kannur Central Jail.
The remand report filed against PP Divya in relation to ADM Naveen Babu’s death describes her actions as deliberate and calculated, reflecting a “criminal attitude.”
The report highlights the risk of her influencing or threatening witnesses due to her high-ranking position. The report further states that Divya currently faces five separate cases.
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