DAILY NEWS: OUR PICKS


Moneylife Digital Team 24 May 2022
The tracking error for equity exchange traded funds (ETFs)/index funds cannot exceed 2% and the tracking difference for debt funds—averaged over one year—must be within 1.25%, as per the recent circular of the Securities and Exchange Board of India (SEBI) on passive mutual fund (MF)...

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Moneylife Digital Team 24 May 2022
Aether Industries Ltd (AIL) is a specialty chemicals manufacturer and has eight chemistry competencies including Grignard reaction, organolithium and other organometallic chemistry, ethylene oxide and isobutylene chemistry, hydrogenation, homogeneous & heterogeneous catalysis, cross-coupling...

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Moneylife Digital Team 24 May 2022
In Q4FY21-22, Balaji Amines Ltd (BAL) reported stellar set of numbers with revenue growth of 88% y-o-y (year-on-year) and 38% sequentially to Rs779 crore. This was backed by strong volume growth of 18% y-o-y and 22% q-o-q (quarter-on-quarter). Improved capacity utilisation pushed the volumes...

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The enforcement directorate (ED) on Tuesday grilled the National Stock Exchange's (NSE's) former chief executive officer (CEO) and managing director (MD) Chitra Ramkrishna at length at Tihar Jail in connection with the co-location (Colo) scam.   The financial probe agency is...

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After a week-long mayhem in the global crypto exchanges that wiped out hundreds of billions of dollars, a senior official at the International Monetary Fund (IMF) has said that the regulators must put up guardrails to protect innocent investors.   The shocking implosion of the...

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The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre.   Farmers told IANS that the price of cotton seeds has gone up from...

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Forced to pay service charges at a restaurant or food outlet of your choice? Are you aware this is entirely optional and voluntary and insistence on it as mandatory violates your right as a consumer?   The government has scheduled a meeting on 2nd June with the National Restaurant...

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Enforcement Directorate (ED) raids were underway on Tuesday in more than six places in Jharkhand and Bihar in connection with the MGNREGA funds scam case involving suspended IAS Pooja Singhal.   Singhal, the Mining Secretary in Jharkhand, was dismissed from her post soon after her...

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Moneylife Digital Team 23 May 2022
South India Spinners Association (all members unanimously), on 22 May 2022, announced that it has decided to close all mills. “The members will not buy cotton until the cotton price situation is conducive for sustainability of mills,” it says, stopping all procurement of cotton. It has cited...

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Moneylife Digital Team 23 May 2022
The World Health Organisation (WHO) has started a discussion on monkeypox at its 75th World Health Assembly (WHA) that began in Geneva on 22nd May. A key agenda of the WHA is a 'pandemic accord' in which member countries will vote on proposed amendments to the International Health Regulations...

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Parsa Venkateshwar Rao Jr (The Leaflet) 23 May 2022
The Supreme Court’s judgment last week in Union of India versus Mohit Minerals Pvt Ltd Through Director underscores the gap between the GST Council’s purely consultative mandate and the reality in which the states have willingly abdicated their right to tax in favour of an artificial cabal,...

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The World Health Organization (WHO) has honoured India's more than one million Accredited Social Health Activists (ASHA) for connecting people with healthcare services.   ASHA, which means "hope" in Hindi, are among the six recipients of Global Health Leaders Award at the ongoing 75th...

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Moneylife Digital Team 23 May 2022
In Q4FY21-22, Ami Organics’ (Ami) revenue grew by 55% y-o-y (year-on-year) to Rs144 crore, driven by volume and value gains. Volume grew by 23% y-o-y. Sequentially, sales growth was subdued due to logistical challenges and lack of timely supply of imported raw materials. Advance intermediates...

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Moneylife Digital Team 23 May 2022
As anticipated by the management, Neogen Chemicals (Neogen) crossed the Rs450 crore top-line mark in FY21-22. In Q4FY21-22, revenue surged by 69% y-o-y (year-on-year) and 18% q-o-q (quarter-on-quarter) to Rs157 crore, driven by capacity expansion and higher realisation for select products....

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On 8 March 2022, the enforcement directorate (ED) at Hyderabad issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against C Parthasarathy, founder of the Karvy group of entities, his sons Adiraj Parthasarathy and Rajat Parthasarathy, and the following...

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The past two years after global lock-downs were triggered by the COVID-19 pandemic, India's investor population has almost doubled due to the rush of new investors. Strangely, however, the brokerage business is seeing a huge churn with scores of broker defaults and even more trading members...

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Moneylife Digital Team 21 May 2022
When Ola Cabs began to offer outstation services, most people thought it was a safe and smooth way to book vehicles, especially for family, children and senior citizens to travel out of town. But the absolute lawlessness and thuggery allowed to recovery agents of banks and finance companies,...

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On 6 May 2022, Elcid Investments Ltd, listed on the Bombay Stock Exchange (BSE), a name unknown to many until then, with an issued share capital of 2,00,000 equity shares of Rs10 each, with the promoters holding 1,49,950 shares, announcing that the postal ballot to initiate the delisting...

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Does the game change?   An article of a 1,000 words is too small to explain the significant challenges that one faces in a digital world. That is why my colleague (Brian Almeida) and I wrote a book titled Marketing in a Data/ Digital World (available on Amazon). This was a book...

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Moneylife Digital Team 21 May 2022
The inspection report of Bank of Baroda (BoB) for 2019, inadvertently shared by Reserve Bank of India (RBI), reveals financial divergence in as many as 779 accounts. As per the report, there was a shortfall or additional provision worth Rs4,512 crore that was required in these...

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