DAILY NEWS: OUR PICKS


Moneylife Digital Team 28 September 2022
Trouble seems to be brewing in the way Repco Home Finance Ltd (RHFL), a listed company with institutional holding, is being run. Moneylife has received exclusive information that the company's promoter, Repatriates Cooperative Finance and Development Bank (Repco Bank), has been trying to...

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Moneylife Digital Team 28 September 2022
The Securities Appellate Tribunal (SAT) has stayed the Securities and Exchange Board of India’s (SEBI’s) order that had imposed a penalty of Rs30 lakh on Reliance Industries Ltd (RIL) and two of compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake sales...

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Moneylife Digital Team 28 September 2022
Even as the Indian rupee has depreciated, to trade at an all-time low of 81.93 against the US dollar after the surge in the dollar index on Wednesday, State Bank of India (SBI) feels that the Reserve Bank of India (RBI) should allow the domestic currency to depreciate a bit further and find...

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Moneylife Digital Team 28 September 2022
Defence stocks have been buzzing lately as India is doubling down on indigenisation to cut down on imports. This creates new opportunities for India’s defence industry which has already delivered robust returns to investors in the past few months. Share prices of defence companies continued...

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IANS 28 September 2022
In an attempt to reduce claims litigation costs, individual policyholders complaints to Insurance Ombudsman, government owned National Insurance Company Ltd has decided to hire an Internal Ombudsman.   According to the company, the Internal Ombudsman shall deal with all...

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The Leaflet 28 September 2022
A division bench of the Supreme Court held on 23rd September that in a suit seeking permanent injunction, the unregistered document or agreement to sell on Rs10 stamp paper would not be admissible in evidence.   “Having conscious [sic] of the fact that the plaintiff might not succeed...

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IANS 28 September 2022
Cloud major Oracle will pay the US Securities and Exchange Commission (SEC) more than $23 million to settle charges against the company for bribing officials in India, Turkey and the United Arab Emirates (UAE), thus violating provisions of the Foreign Corrupt Practices Act (FCPA) in...

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IANS 28 September 2022
Some of the biggest Wall Street companies have been fined a total of $1.8 billion by US financial watchdogs after staff discussed deals and trades on their personal devices and apps.   The Securities and Exchange Commission (SEC) says the investigation uncovered "pervasive off-channel...

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IANS 28 September 2022
In a high-profile media feed hacking, US-based business news publication Fast Company on Wednesday said its content management system (CMS) was hacked and two obscene and racist push notifications were sent to users via its Apple News alerts.   Apple immediately addressed the incident...

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Yogesh Sapkale Yogesh Sapkale 27 September 2022
Whenever anyone questions bad loans of scheduled commercial banks, the Union government and banking regulator often claims that written off does not mean that there would not be a recovery of dues. However, data available in the public domain from TransUnion CIBIL Ltd (CIBIL) shows that as of...

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IANS 27 September 2022
Non-banking finance companies (NBFCs), including housing finance companies (HFCs), are expected to report around 14 per cent year-on-year growth in assets under management in current financial year, India Ratings said in a report.   "GNPA could rise moderately to 5% in FY23 from 4.6%...

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Moneylife Digital Team 27 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs95 lakh on 19 individuals involved in manipulative insider trading in securities of Global Infratech and Finance Limited. These individuals are directed to pay the penalty within 45 days either through a...

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Moneylife Digital Team 27 September 2022
The Reserve Bank of India (RBI) has imposed monetary penalties on 11 cooperative banks, including four from Gujarat, three from West Bengal and one each from Maharashtra, Andaman & Nicobar, Odisha and Haryana. All these lenders were found violating RBI's guidelines, including on loans and...

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Moneylife Digital Team 27 September 2022
The ministry of corporate affairs (MCA) appointed Nand Kishore as managing director (MD) of crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS), while incumbent MD CS Rajan has been made non-executive chairman. After the end of the term of Uday Kotak on 2 April 2022, Mr Rajan was...

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Moneylife Digital Team 27 September 2022
Carborundum Universal (CUMI) manufactures abrasives (bonded, coated and super abrasives), ceramics (wear-resistant, lined equipment, engineered ceramics and metallised ceramics), refractories (fired products and monolithic) and electro-minerals (silicon carbide, aluminium and zirconium). It...

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Moneylife Digital Team 27 September 2022
Markets regulator Securities and Exchange Board of India (SEBI) on Monday issued modalities for investment adviser applications, asking all the new and existing applicants to approach BSE Administration and Supervision Ltd (BASL) for registration-related activities.   In June 2021,...

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IANS 27 September 2022
Come Tuesday, the Supreme Court will begin live streaming its Constitution bench proceedings, which can be accessed at: webcast.gov.in/scindia/   The apex court will live stream three separate five-judge Constitution benches.   A five-judge bench, headed by Chief Justice U.U....

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IANS 27 September 2022
After some iPhone 13 buyers went to Twitter to express their frustration of not receiving their devices after placing online orders on Flipkart, the e-commerce platform on Monday said a few orders were cancelled by sellers "due to anomalies".   Some customers also complained that...

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Debashis Basu Debashis Basu 26 September 2022
Buffeted by bad news since late last year, global markets have been falling more or less in sync right until mid-June this year. Around 17th June, markets around the world made a short-term bottom and rallied fast, right until mid-August.    During these two months, the NIFTY rose...

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Yogesh Sapkale Yogesh Sapkale 26 September 2022
Bank of Baroda (BoB), the second largest public sector bank (PSB), has written off bad loans worth Rs44,481.24 crore of big defaulters with an outstanding of Rs100 crore and more over the past 10 years. During the same period, BoB managed to recover just 25% of the written-off debt, as per...

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