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Moneylife Digital Team 23 June 2022
Varun Beverages chairman Ravi Kant Jaipuria has settled a case related to alleged violations of insider trading rules after paying nearly Rs56 lakh towards settlement charges to the Securities and Exchange Board of India (SEBI).   Mr Jaipuria had allegedly communicated unpublished...

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Moneylife Digital Team 23 June 2022
The income-tax (I-T) department has said that the 1% TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges.   The central board of direct taxes (CBDT) issued an FAQ (frequently asked...

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As edtech platforms continue to lay off employees in India, US-based celebrity-driven learning provider MasterClass has announced it is reducing its workforce by 20 per cent.   MasterClass CEO David Rogier said the decision was taken to "adapt to the worsening macro environment and...

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Moneylife Digital Team 23 June 2022
We had mentioned in Wednesday’s closing report that Nifty and Sensex remain under pressure. On Thursday, the indices opened higher and ended with gain. On the National Stock Exchange (NSE), 1,426 stocks advanced, 629 declined, and 80 remained unchanged with advance decline ratio of...

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Moneylife Digital Team 22 June 2022
The central bureau of investigation (CBI), on Wednesday, arrested Sanjay Gupta, owner and promoter of Delhi-based OPG Securities Pvt Ltd, in connection with the National Stock Exchange (NSE) co-location (Colo) scam in which brokers allegedly abused the facility to make gains by getting early...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs30 lakh on Reliance Industries Limited (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake sales in its subsidiary company, Jio Platforms to...

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Moneylife Digital Team 22 June 2022
The Central Bureau of Investigation (CBI) has booked Kapil and Dheeraj Wadhawan, former promoters of Dewan Housing Finance Ltd (DHFL), for allegedly defrauding 17 banks for Rs34,615 crore. The agency is also conducting searches at about 15 locations in Mumbai related to the DHFL...

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Moneylife Digital Team 22 June 2022
Aster DM Healthcare (Aster), which runs hospitals, clinics, retail pharmacies, etc, has a unique business model that it operates in the GCC (Gulf Cooperation Council) as well as in India. Its network consists of 13 hospitals (1,160 beds), 109 clinics and 240 retail pharmacies in the GCC...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to resume investing in foreign stocks within USD 7 billion, which is the aggregate mandated limit for the industry.   SEBI’s decision comes in the backdrop of a correction in global markets that...

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As India prepares for long-delayed 5G spectrum next month, top industry stakeholders have locked horns over the issue of public and private 5G networks and whether the government should allow spectrum directly to the enterprises for operating private captive 5G networks.   The debate...

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Moneylife Digital Team 22 June 2022
The steel industry could face $518 billion in stranded asset risk as countries work towards meeting their long-term carbon neutrality commitments, if the 345.3 million tonnes per annum (mtpa) of emissions-heavy blast furnace basic oxygen furnace capacity (BF-BOF) proposed or under...

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Moneylife Digital Team 22 June 2022
Narayana Hrudayalaya (NH), covered earlier here, came out with weak Q4FY21-22 numbers. The fourth quarter of the year is, traditionally, the strongest quarter for the company; but the Omicron wave resulted in subdued performance for January and February. Operations started recovering in March...

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Moneylife Digital Team 22 June 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex would put in a relief rally. On Wednesday, the indices opened gap down and ended with loss. On the National Stock Exchange (NSE), 623 stocks advanced, 1,458 declined, and 67 remained unchanged with advance decline ratio of...

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On 10th June, US inflation was at 8.6% for May, which is a new 40-year high, causing markets in the US as well as India to crash. On 15th June, the US Federal Reserve (Fed) hiked interest by as much as 75 basis points (bps) at one go, but the hike did not generate the required confidence that...

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Moneylife Digital Team 21 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has rejected a proposal by asset management companies (AMCs) to introduce mutual funds (MF) schemes with insurance features for scheme investment like systematic investment plan (SIP) insure.   In a letter to the...

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Moneylife Digital Team 21 June 2022
The Reserve Bank of India (RBI) has clarified that non-bank institutions cannot load credit lines on prepaid payment instruments (PPIs) like e-wallets and prepaid cards. This clarification from RBI, which is not available on its website till writing this report, would impact credit products...

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Moneylife Digital Team 21 June 2022
Private sector lender Yes Bank on Tuesday announced the launch of floating-rate fixed deposit (FD) for domestic customers. In this new product, the interest rate will keep fluctuating based on the changes in repo rate, allowing the customers of the Bank to enjoy dynamic returns on their fixed...

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Moneylife Digital Team 21 June 2022
Time Technoplast Limited (TTL) is a multinational company (MNC) and one of the leading manufacturers of technology-based polymer and composite products for industrial packaging, automotive and material handling. It has 34 production facilities in 11 countries with a strong presence in Asia &...

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Moneylife Digital Team 21 June 2022
Hikal faced several headwinds in Q4FY21-22 which led revenue to decline by 6% y-o-y (year-on-year) and 2% q-o-q (quarter-on-quarter) to Rs502 crore, due to weak performance from the crop protection segment. Revenue from the crop protection business declined by 17% y-o-y to Rs194 crore, due to...

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Fake crypto-currency (Crypto) exchanges have duped Indian investors of more than $128 million (nearly Rs1,000 crore) as the global Crypto market tanks, a new report claimed on Tuesday.   Cyber-security company CloudSEK said it has uncovered an ongoing operation involving several...

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