Weekly Moneylife Indices & Sector Trends
INDIAN MARKET TRENDS
 
The Nifty and the Sensex ended flat during the week ended 22nd June. ML Mega-cap Index also ended flat. ML Large-cap Index fell 1%. ML Mid-cap Index and ML Small-cap Index declined 3% each. ML Micro-cap Index went down by 4%.
 
 
 
FUND FLOWS
 
Foreigners: Foreign institutional investors were net sellers of equities...
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  • Lenders approve RIL-JM Financial plan for Alok Industries
    The committee of creditors (CoC) of Alok Industries Ltd has approved a joint resolution plan submitted by Reliance Industries Ltd (RIL) and JM Financial Asset Reconstruction Co Ltd. The resolution plan is valued at about Rs5,000 crore, out of which financial creditors would get around Rs4,000 crore. 
     
    In a release, RIL says, "Pursuant to the order dated 11 June 2018 passed by National Company Law Tribunal (Ahmedabad), the Resolution Plan was put to vote before the committee of creditors -CoC of the Company on 20 June 2018. Pursuant to the voting, the Resolution Plan has received the assent of 72.2% of the voting share of the CoC."
     
    As per the claims admitted by the resolution professional in the case, financial creditors have submitted claims worth over Rs29,000 crore.
     
    Alok Industries is one of the 12 large companies to have been sent to the NCLT for insolvency proceedings after getting shortlisted by Reserve Bank of India (RBI) in June 2017.
  • User

    Driving Detective: Put Off Alerts Automatically while Driving
    We all know that it is dangerous to talk or text while driving. But, invariably, when the phone rings or beeps, there is a tendency to pick it up or view the notification while driving. That is dangerous!
     
    Driving DetectiveDriving Detective automatically detects when you are in a moving vehicle and toggles Do Not Disturb on, silencing alerts for the duration of the drive. Normal operation is restored after you exit the vehicle and move away from it. Do Not Disturb is an Android feature which gives the user control over alerts, specifically which alerts are allowed to notify the user and when.
     
    Driving Detective does not use any GPS data to detect driving. Detection is done completely on device. Detection stops either by walking a short distance away from the car, or remaining parked for more than 15 minutes.
     
    Drive safe—always use Driving Detective!
     
     
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