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India's IT capital Bengaluru came to a standstill on Wednesday as schools closed and many people worked from home. The city experienced its heaviest rainfall in nearly 30 years, causing significant disruption for its 1.4 crore residents. A weather station recorded 186 mm (7.3 inches) of rain on Monday, the highest single-day total since 1997. In total, Bengaluru received 211.7 mm of rain this month, almost double the usual amount for October, according to the India Meteorological Department.Ongoing Concerns About InfrastructureThe heavy rains have renewed concerns about the unplanned development in Bengaluru, known as "India's Silicon Valley," which hosts numerous startups and global companies. "If it rains for even half an hour, flooding happens," Saurabh Kumar, an employee at Wipro, told Reuters. He noted that his apartment complex relies on tractors to transport residents during heavy rains.Tragically, the rains also caused a building under construction in Babusapalya to collapse, leading to the death of five workers. In response to the ongoing rainfall, the local government has advised private companies to allow employees to work from home, with alerts issued through Thursday for continued rainfall.Residents Share Their ExperiencesResidents shared their struggles during the heavy rains. "Water is coming into my house from my kitchen chimney," Sadhana Subramanian, a 40-year-old resident of Banaswadi, also told Reuters. She expressed fear about power outages during such storms. Companies like Deloitte, Mercedes Benz R&D India, and Nokia have also encouraged remote work for their employees.However, some residents, who still must commute to work, expressed frustration over the city's infrastructure. Residents remarked on the "lack of vision in developing the city" after enduring long commutes, stating he purchased a motorcycle after experiencing two-hour travel times for a distance of 11 km (seven miles).The Need for Urban PlanningBengaluru's rapid growth has strained its infrastructure, leading to frequent flooding. Sandeep Anirudhan, founder of the Coalition for Water Security, criticized the unplanned development: "Whatever (development) is happening in our city is unplanned. So, the environment, the drainage networks, the wetlands are being destroyed," Anurudhan told Reuters.Studies from the Indian Institute of Science reveal that the city has lost 88% of its green cover over the past four decades, while concrete areas have increased elevenfold. This change has reduced the city's capacity to absorb rainwater, making over 85% of Bengaluru susceptible to flooding.Experts point out that construction on former lake sites has worsened the situation. Additionally, clogged drains have hindered the flow of rainwater, contributing to the flooding. (Inputs from Reuters) 114493383 114410960 114448758

After hitting a peak of Rs 171 on September 23, the shares of HFCL have constantly been in a downtrend, breaking below its significant exponential moving averages.Currently trading at Rs 120, the stock is placed below its 10, 20, 50 and 100-day exponential moving averages (DEMAs) and trying to sustain above its 200 DEMA.“HFCL has been in a corrective phase for the past month, pulling back significantly from its record high. Today, the stock broke below the crucial support of the 200-day exponential moving average (DEMA), and additional weakness in the broader indices could add more pressure,” said Ajit Mishra - SVP, of Research at Religare Broking.HFCL has broken its weekly trendline, indicating weakness in the stock.“We expect the next support zone to be around 100-105, while any rebound may face resistance in the 125-135 range. Traders should align their positions accordingly,” Mishra added.Despite the stock being in a corrective phase for some time now, the shares of HFCL have an impressive return of 73.9% in the last one year against Nifty50 returns of 25.8% in the same period. However, the stock is down by 26% in the last one month, according to Trendlyne data.On a monthly chart, support for the stock is at 94, another 16% on the downside from the present levels. The momentum indicators on a monthly chart are turning down from the Over-bought levels, showing signs of a downside.The ADX average line is sloping down on a monthly chart with the ADX DI+ line also sloping downside, indicating the upside momentum is reduced.“HFCL's Q2 FY25 financial results show flat performance, indicating no major momentum on the upside. HFCL has poor long-term growth as its net sales are down by -1.50% and its operating profit stands at 2.15% over the last 5 years, all indicating a tough time ahead for the stock,” said Dr. Praveen Dwarakanath, Vice President of Hedged.in while commenting on the fundamental performance of the company.The ROCE for the stock is at 11.1, carrying an expensive valuation of 4.1 enterprise value to capital employed.“Adding to this, it is seen that more than 40% of the promoter's shares are pledged which can further create downside pressure on the stock,” Dwarakanath added.Around 12:15 pm, the shares of HFCL were trading 4% higher at Rs 119.52 on the nSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)