INVESTOR INTEREST


Axis Mutual Fund has sacked its chief trader and fund manager Viresh Joshi, with immediate effect, the fund house said.   On 4th May, Axis AMC had suspended Mr Joshi and another fund manager.   Axis MF, in an official statement, said, "Axis AMC has been conducting a suo moto...

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Moneylife Digital Team 20 May 2022
Markets regulator Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs38.75 crore on 32 entities, including Fortis Healthcare Holdings, in a case related to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to conceal the fraud.   The...

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Moneylife Digital Team 20 May 2022
Incorporated in 2008 as a wholly-owned subsidiary of 3i Infotech Ltd (3i), eMudhra Ltd (eMudhra) is the largest licensed certifying authority (CA) in India with a market share of 37.9% in the digital signature certificates (DSCs) market space in FY20-21, up from 36.5% in FY19-20. It provides...

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Moneylife Digital Team 20 May 2022
The financial results of Gujarat Fluorochemicals (GFL) were in line with our estimates. The consolidated revenue for FY21-22 grew by 49% to Rs3,954 crore and Q4FY21-22 revenue grew by 28% to Rs1,074 crore y-o-y (year-on-year). Operating profit margin expanded by 800bps (basis points) to 31%...

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Moneylife Digital Team 20 May 2022
The insurance regulator  Insurance Regulatory and Development Authority of India (IRDAI) has asked motor insurance providers to discontinue advertisements showing services, like free pick-up and drop of vehicle, which are not part of the insurance cover.   General insurance companies...

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Moneylife Digital Team 20 May 2022
We had mentioned in Thursday’s closing report that Nifty and Sensex decline sharply on US market fall. On Friday, the indices opened gap up and closed with gain. On the National Stock Exchange (NSE), 1,699 stocks advanced, 370 declined, and 55 remained unchanged with advance decline ratio of...

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Moneylife Digital Team 20 May 2022
In April 2022, Reliance Industries and Infosys were the most preferred stocks of Indian mutual funds. The net purchases of Reliance Industries were Rs2,358 crore. Maruti Suzuki and NTPC were the most sold stocks. The net sales of Maruti Suzuki were Rs658 crore and net sales of NTPC were Rs566...

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Moneylife Digital Team 19 May 2022
Market regulator Securities & Exchange Board of India (SEBI) has permanently withdrawn its recognition granted to Indian Commodity Exchange Ltd (ICEX).    In a statement, the market regulator says, "The withdrawal of recognition was pursuant to an order passed by VS Sundaresan,...

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Moneylife Digital Team 19 May 2022
As mentioned in its statement on the development and regulatory policies, the Reserve Bank of India (RBI) says, all banks, automated teller machine (ATM) networks and white label ATM operators (WLAOs) may provide an option to a customer for intero-perable card-less cash withdrawal (ICCW) at...

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Mixed views were expressed by insurance industry experts on the sectoral regulators recent decisions of permitting non-life insurers, foreign reinsurer branches (FRB) and Lloyd's India not to disclose their underwriting performance or NL 40 statement to the public.   Similarly, the...

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Moneylife Digital Team 19 May 2022
Due to strong performance in all segments in Q4FY21-22, SRF’s revenue grew by 36% y-o-y (year-on-year) to Rs3,549 crore. The strong y-o-y growth during the March quarter was primarily driven by strong earnings traction from the chemicals and packaging business. Revenue from chemicals segment...

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Moneylife Digital Team 19 May 2022
VST Tillers Tractors (VST) came out with good numbers for March 2022 as its sales grew by 12% to Rs218 crore on a y-o-y (year-on-year) basis and operating profit declined slightly to 14% from 15% sequentially due to higher raw materials prices. Net profit margin (NPM) was flat at 10%. In the...

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Moneylife Digital Team 19 May 2022
Polycab reported a gross quarterly revenue of Rs3,970 crore, up 17.73% quarter-on-quarter (q-o-q) and 35% year-on-year (y-o-y). Operating profit was Rs476 crore up 31.49% q-o-q and 17.82% y-o-y and net profit was Rs322 crore up 2.22% q-o-q and 18.14%.y-o-y.     According to...

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Moneylife Digital Team 19 May 2022
On Thursday, the indices opened gap down after the US markets ended deeply in red and ended with loss. On the National Stock Exchange (NSE), 414 stocks advanced, 1,679 declined, and 46 remained unchanged with advance decline ratio of 0.25.    The trend of the major indices on...

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Opening another front against Twitter CEO (chief executive officer) Parag Agrawal, Tesla CEO Elon Musk on Tuesday asked the US Securities and Exchange Commission (SEC) to probe whether Twitter's claim on the number of its user base is true.   Replying to a follower who said that if it...

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The shocking implosion of the TerraUSD and Luna crypto-currencies (crypto) threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.   In a crash starting a week earlier, the once bullish TerraUSD and sister coin...

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Moneylife Digital Team 18 May 2022
Tube Investments of India Limited (TII), covered in detail here, came out with their quarterly numbers last week. TII operates three main verticals, viz., engineering, metal formed products and mobility, which are used in major industries such as automotive, railways, construction, mining,...

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Moneylife Digital Team 18 May 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex may pause for breath. On Wednesday, the indices opened gap up and ended with loss. On the National Stock Exchange (NSE), 1,151 stocks advanced, 920 declined, and 65 remained unchanged with advance decline ratio of...

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Moneylife Digital Team 17 May 2022
The Reserve Bank of India (RBI) on Tuesday rejected all four applications it received for ‘on-tap’ licensing of universal banks (UBs). UAE Exchange and Financial Services Ltd and the Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank) are the two prominent names whose...

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Moneylife Digital Team 17 May 2022
For the first time, market regulator Securities and Exchange Board of India (SEBI) has asked Urja Global Ltd—which is found guilty of price manipulation and false statements—to get a 'certificate of authenticity' for its disclosures to the exchange. In the 'humiliating action', the company...

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