DAILY NEWS: OUR PICKS


Moneylife Digital Team 24 September 2021
Hinduja Global Solutions Ltd (HGSL) provides business process management (BPM) services, primarily back-office processing and contact centre services, to domestic and international clients. As of Q2FY21-22, HGSL had 55 delivery centres in seven countries and 42,769 employees. On 9 August...

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Moneylife Digital Team 23 September 2021
The twists and turns for Thrissur-based Dhanlaxmi Bank do not seem to end. Three people, including former directors, have filed a petition in Kerala High Court (HC) seeking a seat on the bank's board.   Dhanlaxmi Bank’s shareholder KN Madhusoodan, and P Mohanan and Prakash DL have...

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Moneylife Digital Team 23 September 2021
Updated on 24 September 2021 at 4pm to include clarification from DICGC   The Union government has announced that the Deposit Insurance & Credit Guarantee Corporation (DICGC) would be paying a maximum of Rs5 lakh to depositors of 21 banks, including Punjab and Maharashtra Cooperative...

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Clinton Fernandes 23 September 2021
ICICI Prudential Asset Management, the asset manager to ICICI Prudential Mutual Fund, has launched a new international equity index scheme. The ICICI Prudential Nasdaq 100 Index scheme will invest in the stocks part of the tech-dominated NASDAQ 100 index.   This will be the third...

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Moneylife Digital Team 23 September 2021
Indo Count Industries Limited (ICIL) specialises in home textiles with a special focus on bedding and bedlinen. Headquartered in Mumbai, it started its operations as a yarn-spinning company and has, over the years, forward integrated into full-fledged manufacturing of home textiles. ICIL’s...

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R Balakrishnan R Balakrishnan 23 September 2021
The markets have been riding a major bull wave for a year now. New highs have become routine. India Inc is on a roll. Profitability has never been so good. Debt of companies has come down. Income–tax (I-T) collections and goods and services tax (GST) collections are robust. The stage is set...

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Moneylife Digital Team 22 September 2021
Shareholders of IDFC Ltd on Wednesday rejected the proposal to appoint Vinod Rai as a non-independent, non-executive director of the company. Over 62% of shareholders voted against the proposal, the company says in a regulatory filing. Currently, Mr Rai, former comptroller and auditor general...

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Ranganathan V Ranganathan V 22 September 2021
Many societies constantly debate the need for letting terminally sick patients choose a way to end the suffering that cannot be medically relieved. Auditing is almost at the threshold of such a situation.    Its allure is constantly slipping out of the reckoning of the very...

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Vinita Deshmukh Vinita Deshmukh 22 September 2021
In a rare action, Rahul Singh, information commissioner (IC) of Madhya Pradesh (MP) has issued an arrest warrant on 20th September against Dr Vikram Singh Verma, chief medical and health officer (CMHO) of Burhanpur district, who is also the public information officer (PIO). Mr Singh was irked...

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IANS 22 September 2021
The government has again extended the term of Uday Kotak as non-executive chairman of Infrastructure Leasing and Financial Services (IL&FS) to maintain continuity in the resolution plan being operatives for the indebted group.                                         As per a...

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Moneylife Digital Team 22 September 2021
Depositors of 21 banks, including Punjab and Maharashtra Cooperative (PMC) Bank, will receive up to Rs5 lakh from the deposit insurance & credit guarantee corporation (DICGC) within 90 days or by 29 December 2021 under the all-inclusive directions (AID).    The DICGC (Amendment) Act,...

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Moneylife Digital Team 22 September 2021
Like many other textiles stocks, Ambika Cotton Mills (Ambika) has more than doubled from around Rs700 per share a year ago to around Rs1,600 currently. The management follows a conservative, almost a zero-debt policy, financing capacity expansions through internal accruals. This, along with...

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Moneylife Digital Team 22 September 2021
Things at Zee Entertainment Enterprises Ltd (ZEEL) seem to be moving too fast and strangely. Days after the company’s largest shareholder called for an extraordinary general meeting (EGM) to remove Punit Goenka as managing director (MD), the board of directors of Zee Entertainment has...

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Moneylife Digital Team 21 September 2021
Ever since the National Stock Exchange (NSE) scrapped the TER (trade execution range) with effect from 16th August, freak trades in the derivatives segment of NSE had become a recurring routine event. Traders, who regularly suffered huge losses, have expressed outrage on social media every...

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Moneylife Digital Team 21 September 2021
In the aftermath of the pandemic, the Reserve Bank of India (RBI) has been at the forefront of stabilising the financial system to keep liquidity in surplus mode. The average net durable liquidity injected into the banking system since April 2021 is at Rs9.3 lakh crore. However, the excess...

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IANS 21 September 2021
To quicken the pace of stressed asset resolution, the Centre may soon come up with a prepackaged insolvency framework under the Insolvency and Bankruptcy Code (IBC) for large corporates, similar to the one introduced for SMEs.   Official sources said that discussion on having a...

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Moneylife Digital Team 21 September 2021
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 lakh each on the promoter-director and system administrator of Kolkata-based Excel Stock Broking Pvt Ltd for violating the provisions about the access to secondary servers of the National Stock Exchange (NSE)’s...

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Moneylife Digital Team 21 September 2021
Market regulator Securities and Exchange Board of India (SEBI) has mandated that all designated employees of asset management companies (AMC) be paid up to 20% of their monthly compensation in units of the schemes in which they have a role or oversight. According to SEBI, this move would make...

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Moneylife Digital Team 21 September 2021
In a welcome relief, lenders to Dewan Housing Finance Corporation (DHFL) may start receiving payment from Piramal Capital and Housing Finance (PCHFL) this week. DHFL has been undergoing insolvency proceedings at National Company Law Tribunal (NCLT) in Mumbai since 3 December...

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Moneylife Digital Team 20 September 2021
Paras Defence and Space Technologies Ltd (PDSTL) is involved in designing, developing, manufacturing and testing of tier-2 defence and space engineering products and solutions in the domain of defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solutions and...

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