ML Sectoral Trends

Stocks of printing & publishing companies and airlines companies soared 31% each and stocks of sugar companies surged 12%. Shares of oil & gas companies, software & IT services companies and consumer products companies declined 3% each. Shares of healthcare companies fell 2%.

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Shah Rukh gets second ED summons in six months
For the second time in six months, the Enforcement Directorate (ED) has slapped a notice summoning Bollywood superstar Shah Rukh Khan in connection with the valuation of shares of his co-owned IPL cricket team, Kolkata Knight Riders, sources said here on Tuesday.
 
The ED is investigating whether the shares of the team were allegedly undervalued as it could be violative of the provisions of Foreign Exchange Management Act (FEMA).
 
Earlier, the ED had served a notice to the team in May this year but Shah Rukh had not appeared before the agency.
 
Prior to that, Shah Rukh was quizzed in 2011 for allegations that KKR had received illegal money transferred from certain foreign tax havens.
 
The company Knight Riders Sports Pvt Ltd, which runs the KKR team, is jointly owned by Shah Rukh, actress Juhi Chawla and her husband Jay Mehta.
 
It is alleged that five million shares of KRSPL were sold to Mehta's company, Sea Islands Investments Ltd, based in Mauritius in 2008 and were reportedly undervalued.
 
Shah Rukh is away on a film shooting assignment and sought time to appear before the investigating agency which has not set any time-frame on the issue.
 
In 2011, Shah Rukh was directed to provide relevant documents including the purchase of players, revenues, advertising details and the team's shareholding pattern.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Urban Inflation

Combined inflation for urban and rural areas increased to 4.41% in September 2015, from 3.74% in August. Inflation in urban areas increased to 3.61% in September, from 2.75% in August, due to a high base effect. Food inflation in urban areas increased to 3.79% in September from 1.71% in August. In urban areas, prices of vegetables remained steady year-on-year, due to the base effect. Inflation related to fuel remained steady in August, at around 3%. Inflation for housing increased marginally to 4.74%. Inflation for clothing hovered around 4%; for miscellaneous items, it increased to 2.29% in September from 2.02% in August.

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