Stocks
Sensex, Nifty move higher on government positive action – Thursday closing report

Further move on Nifty may be indecisive

Indian markets, which opened with a lull on Thursday took a quick plunge into the negative and after hitting the day’s low, the benchmark indices witnessed a gradual recovery. In the last few minutes of the trading session, S&P BSE Sensex re-entered the level above 25,000 for the second time during the day and stayed there till the end.

Sensex opened at 24,828 while the NSE 50-share Nifty opened at 7,400. Sensex hit a low of 24,645 and moved higher to hit a high at 25,044 and closed at 25,020 (up 214 points or 0.86%), while the Nifty moved from the level of 7,361 to the level of 7,485 and closed at 7,474 (up 72 points or 0.97%). The NSE recorded a volume of 161.69 crore shares. India VIX fell 0.75% to close at 15.4475.
 

Except for Bank Nifty (0.33%) all the other indices on the NSE closed in the green. The top five gainers were Metal (3.62%), Commodities (2.71%), MNC (2.48%), Nifty Midcap 50 (2.27%) and CPSE (2.12%).
 
Of the 50 stocks on the Nifty, 38 ended in the green. The top five gainers were BPCL (7.17%), Sesa Sterlite (6.65%), Hindalco (6.10%), Hindustan Unilever (5.21%) and Cairn (4.74%). The top five losers were M&M (1.42%), HDFC Bank (1.22%), IndusInd Bank (1.05%), Cipla (0.92%) and Bank of Baroda (0.86%).
 
Of the 1,596 companies on the NSE, 1,107 companies closed in the green, 441 companies closed in the red while 48 closed flat.
 

Prime minister Narendra Modi on Wednesday, held discussions with Secretaries of all the Ministries and senior officers of the Departments of the Government of India. Such a meeting has taken place after more than eight years. The Prime Minister listened extensively to suggestions and comments of the Secretaries for nearly two and a half hours.

He called upon the senior bureaucrats to simplify and streamline the administrative rules and procedures to make them people-friendly. He also encouraged the officers to take decisions and assured them that he would stand by them.

Prime Minister Modi is reportedly visiting Washington to meet President Barack Obama in September, signalling a new start in ties with a leader once denied a visa by the United States.

Coming back to the markets, Tata Power, which was recently in news over its subsidiary, Tata Power Renewable Energy, successfully commissioning a 25MW solar farm in Maharashtra's Satara district, was among the top four gainers in the Sensex 30 pack. Tata Power rose 3.64%.

Mahindra & Mahindra launched the limited edition 'XUV500 Sportz' in India. Built on its W8 model, the Sportz is priced at Rs. 13.68 lakh (ex-showroom, Mumbai). The stock was the top loser (1.46%) in the Sensex 30 stock.

Shares of oil marketing companies were in focus on Thursday as news made rounds that the oil ministry will consult the Prime Minister's Office (PMO) and Finance Ministry on hiking LPG and kerosene prices. BPCL (6.95%) was among the top two gainers in the ‘A’ group on the BSE.

Credit Suisse has downgraded Max India to underperform with a target price of Rs292 per share. The brokerage says that after the recent 50% run-up on expectations of an increase in insurance FDI limit to 49%, it will offer little upside hereon. The stock was the top loser (6.30%) in the ‘A’ group on the BSE.

US inidices closed Wednesday marginally higher.

Service industries in the US expanded at the fastest pace in nine months in May. The Institute for Supply Management said its services sector index rose to 56.3 last month from 55.2 in April as new orders, order backlogs, and hiring increased.

A private report showed employment rose less than economists projected. Private employers added 179,000 jobs to their payrolls last month after hiring 215,000 workers in April, according to payrolls processor ADP.

The influential US non-farm payroll data for May 2014 is due for release tomorrow, 6th June 2014.

Except for Hang Seng (0.18%), Straits Times (0.02%) and Seoul Composite (0.65%) all the other Asian indices closed in the positive. Shanghai Composite (0.79%) was the top gainer.

European indices were trading in the green. US Futures were also trading higher.

User

Adooye.com, another MLM promising big money just for watching ads!

ADooye is selling its 'packages' with a promise to pay for watching online advertisements and adding more members to the network. The whole things sounds more like a MLM or 'double your money' scheme

Adooye.com, (ADooye) a supposedly US based website, provides online network marketing platform to its members by selling 'packages', which offer around Rs500 for watching 10 advertisements every day. It also offers various 'points' based rewards, bonuses and commisions on adding more people down the line as per binary system used by multi-level marketing (MLM) companies. ADooye is another in a string of MLMs that we have come across, like Speak Asia, Fanbox, Empower Network, QNet and other pyramid and Ponzi schemes that lured people by promising high returns under the pretext of different products and services.
 
Moneylife investigated this company when a worried reader wrote to asking to look into their credentials. Their website states that Adooye is founded by Australian Mathew Reichgruber and Alessandro Sen, and marketed by Delhi based AD Marketing.  This affiliated marketing company, which operates like an MLM sells various 'packages' containing online advertisements, on viewing which the member is rewarded.

In their FAQs section, in response to the question, “So how does it work? And where does the money come from? The sardonic reply is, “we are still developing the whole system and cannot afford for anyone to abuse the idea and outrun us in the end.” However, in its presentation (http://www.adooye.com/Adooye_thomas_latest.pdf) ADooye pitches itself as an 'Affiliate Marketing' company and says that as more viewers watch advertisements, this generates web traffic for advertisers and income for ADoyee.

Apart from this, ADooye earns more income from selling various expensive 'packages', which are nothing but login access to view 10 advertisements daily for 140 days, to its registered members. They have a built network with the help of paid members who generate web traffic, when even for showcasing advertisement they charge money from its members.


If you are amazed by its offers and think its a 'great earning opportunity,' its certainly not! They need you to pay first to get started. ADoyee asks to register online by paying Rs500 and giving referral ID of any active ADooye member (so that the  member will get a commision on your registration). After registering, they ask you to purchase any of their 'packages' which costs from Rs3000 to Rs25,000 with 140 days of validity. These packages offer you nothing but a login panel wherein you see 10 advertisements daily. The costlier the packege, higher your rewards for clicking on the advertisements. It also includes conditions like 'affiliate lock period for ad watch payout' for 20 days.

Many of its agents describe it as an 'MLM company with a legal payment gateway!' As it offers various shopping cards with the points you earn, which you can then use for shopping at various places. Points earned by members can be transfered to your bank account or Adooye card, which lets the points be used for shopping at various places. Adoyee.com said, “The bigger your crowd, the more you earn, there will be an innovative activity of pair and direct referral.” It offers 5% referral and 10% binary commisions on adding another members to network.


Their network of agents often use social media and blogs to market ADoyee and its packages in typical MLM fashion, as the 'best life changing online earning opportunity'. Many of their agents put advertisements on various job portals as the best part time income opportunity. One of their messages says, 'Earn Rs500 in 5 minutes daily just by clicking on advertisement!'


While checking Adooye.com's credentials and safety on scamadviser.com, it reviewed Adoyee.com as a 'Suspicious - Might be unsafe' website based in United States. Scamadviser.com in its review said, “This site is using an anonymous service, which prevents us from identifying the site owner. Be aware that many scam sites use this as a method to hide their identity. The website has been newly registered with a short life expectancy, which follows the pattern used by many fraudulent and dubious websites. Please be vigilant and take extra care before providing any payment information.”


It appears to be nothing but another MLM, which is trying to get money out of your pockets by promising you great monetary returns and non-monetary rewards for nothing. Moneylife has written several articles on frauds that lure people by floating various MLMs and frequently warned investors that “If it looks too good to be true, it usually is.” This is clearly another in the same category.

Officials from ADooye were not immediately available for comments. Our emails sent to them remained unanswered till writing the story. We would incorporate their views as and when we receive it.

User

COMMENTS

Srini

2 years ago

I suspect that Adooye and Flipkart as some connection. If you guys remember that Most of the Ads Adooye use to post were of Flipkart. Almost 80% of ads were related to flipkart.

vijay kumar

2 years ago

you people never learn ..howcan someone pay such a huge money for visiting adds ... dont u hav people something called common sence?

REPLY

Sunil Pratap

In Reply to vijay kumar 2 years ago

Common sense is that which is uncommon...best now to get media to showcase such frauds so people can have better sense in future!!! Hopefully ?

vijay kumar

2 years ago

u people never learn... how can some one giv huge money for visiting ads ...where is u r common sence ?

Srini

2 years ago

Hi All,

One of the gentle man as filed a complaint on Adooye in Bangalore.
Please refer to below link for more detils.
http://epaperbeta.timesofindia.com/Artic...

Also you can refer to Second page of Times of India.

pensubtitles.us

2 years ago

Dear Friends, before joining in Adooye i had lots of query and discussion with the Leader at Bhubaneswar, Odisha and finally i was agreed when received a PDC cheque and put 2.5 Lacks. After received only 20000/- now it is vanished. For that i communicated with Local police , Cyber crime and also send an information thru mail to our Prime minister Mr. Narendra Modi by describing the dids. we need to raise our strong voice which will put impact to this type of bastards.

REPLY

sonumanju

In Reply to pensubtitles.us 2 years ago

nice job u did..pls put this matters in prime ministers facebook and twitter page...

Raghuram

In Reply to pensubtitles.us 2 years ago

Cheaters and looters of Adooye once again coming to cheat innocent public with help of local commission agents.Beware of them .I also lost my hard earned money in Adooye.Pl Don't believe even if the introducer may be your close one. By Raghuram

gaurav srivastava

2 years ago

hi guys i feel these persons are real owners of adooye and have information regarding it


https://http://www.facebook.com/mr.sumanbv?fref=photo

https://http://www.facebook.com/adooye.pankaj?fref=ts

gaurav srivastava

2 years ago

http://adzooz.com/

http://goldenglobeinc.net/

these two sites are of same owner kindly report in cyber crime and trace them out pls

REPLY

pankaj

In Reply to gaurav srivastava 2 years ago

hi gaurav can u call me at 09358424273 gaur here

gaurav srivastava

2 years ago

09358424273 this is a number for a bastard name pankaj in adooye team

REPLY

pankaj

In Reply to gaurav srivastava 2 years ago

bastered gaurav u r promoting mine no my no is always open gave me ur number, guys i am also one like u who cheated by adooye and gaurav type cheap people without knowing any thing promot any one number, if any one have exact info please share with me. gaurav last time don't spread my number

gaurav srivastava

2 years ago

adooye . com is a fraud company i invested one lakh indian rupees and they didnt even gave my money back they run away with my money fraud mother fuckers please be aware friends

Manoj

2 years ago

if prior mentioned link is not working kindly check on this http://www.consumercourtforum.in/f21/ado...

Manoj

2 years ago

Hi Shubha Pradeep,

From todayonwards http://www.adoops.biz. this site also not working and i think they are planning to do some other type of business but we always take care and never give them a chance to come-up with the new name. we all should approach the local Cyber Crime link is http://www.consumercourtforum.in

Gourisankar

2 years ago

Adooye.com | Adooye IP Lookup (IP: 184.168.221.26)
Hostname: adooye.com
IP Address: 184.168.221.26
Host of this IP: ip-184-168-221-26.ip.secureserver.net
Organization: GoDaddy.com, LLC
ISP: GoDaddy.com, LLC
City: Scottsdale
Country: United States
State: Arizona
Postal Code: 85260
Timezone: America/Phoenix

Shubha Pradeep

2 years ago

Guys, after cheating so many people they have started new company with the same concept- http://www.adoops.biz. Please forward this information to as many people as you can, so that we can help the people by getting cheated

REPLY

Sunil Pratap

In Reply to Shubha Pradeep 2 years ago

People need to approach the local Cyber Crime units so this site is shut down before others get duped!!!

dinu

2 years ago

Sangitha and Vijai are investors not promotors.We have to find the owners of the company

REPLY

bangalore

In Reply to dinu 2 years ago

Sangitha and Vijai made their money.. based on their statements so many people invested money. Will they give out their profit to the people who invested based on their statements. I am sure they have earned in thousands if not lakhs. We all saw the cheques of top performers in the website. What about the people who joined new? Why should not these fraud uplinks (investors) distribute the money they earned as profit.

Sunil Pratap

In Reply to dinu 2 years ago

Not a chance that anyone can trace the owners!! Bad luck.......only a face to face confrontation can possible help....that too no money assurances!!

ankalu

2 years ago

plz don't cheat people that is your brothers &sisters,better to go for begging.

DoT says no to Vodafone's request for extending licences

Vodafone may apply for Unified Licence at appropriate time and obtain spectrum through market-related process for continuing the service in seven circles, the Telecom Dept has said

The Department of Telecom (DoT) has rejected Vodafone India's request to extend its licences in seven service areas that are expiring next year. In a note, the DoT said, "(Vodafone's) request for extension of licences in Kerala, Tamil Nadu, Haryana, Rajasthan, UP East, Maharashtra and Gujarat service areas expiring in December 2015 cannot be acceded".

 

Vodafone declined to comment.

 

In 2015-16, 29 licences are expiring, including seven held by Vodafone.

 

Vodafone applied to extend the licences under a provision allowing an extension of 10 years at the wish of the DoT. However, the official note said that circumstances have materially changed since the permits were granted in 1995 and the extension of licences is no longer conducive.

 

DoT cited a 2 February 2012, judgement of the Supreme Court, which cancelled 122 2G-licences that were allocated spectrum through an administrative process without being auctioned, provisions of the National Telecom Policy 2012, and the new licence regime among the reasons for rejecting Vodafone's request.

 

"Vodafone may apply for UL (Unified Licence) at appropriate time and obtain spectrum through market-related process for continuing the service in the service areas where the licences of Vodafone are going to expire in December 2015," the note said.

 

Meanwhile, the DoT has sought the recommendations of the Telecom Regulatory Authority of India for auctioning of spectrum in the 18 service areas where licences are expiring.

 

The 29 licence-holders in these areas together have about 198 megahertz of spectrum. Most of these licences have spectrum in the premium 900 MHz band for which telcos paid about two times more than the base price fixed by the government in the recent auction.

 

They hold about 172 MHz in 900 MHz, and 26 MHz in the 1800 MHz band.

 

In the February spectrum auction, bids of about Rs62,162 crore were received. In the total tally, bids worth Rs23,590 crore were received for 900 MHz spectrum in the Delhi, Mumbai and Kolkata service areas alone. The 1800 MHz band auction fetched bids worth Rs37,572.60 crore.

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