DAILY NEWS: OUR PICKS


Moneylife Digital Team 22 June 2022
Aster DM Healthcare (Aster), which runs hospitals, clinics, retail pharmacies, etc, has a unique business model that it operates in the GCC (Gulf Cooperation Council) as well as in India. Its network consists of 13 hospitals (1,160 beds), 109 clinics and 240 retail pharmacies in the GCC...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to resume investing in foreign stocks within USD 7 billion, which is the aggregate mandated limit for the industry.   SEBI’s decision comes in the backdrop of a correction in global markets that...

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As India prepares for long-delayed 5G spectrum next month, top industry stakeholders have locked horns over the issue of public and private 5G networks and whether the government should allow spectrum directly to the enterprises for operating private captive 5G networks.   The debate...

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Moneylife Digital Team 22 June 2022
The steel industry could face US$518bn (billion) in stranded asset risk as countries work towards meeting their long-term carbon neutrality commitments, if the 345.3MTPA (million tonnes per annum) of emissions-heavy blast furnace basic oxygen furnace capacity (BF-BOF) proposed or under...

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Moneylife Digital Team 22 June 2022
Narayana Hrudayalaya (NH), covered earlier here, came out with weak Q4FY21-22 numbers. The fourth quarter of the year is, traditionally, the strongest quarter for the company; but the Omicron wave resulted in subdued performance for January and February. Operations started recovering in March...

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On 10th June, US inflation was at 8.6% for May, which is a new 40-year high, causing markets in the US as well as India to crash. On 15th June, the US Federal Reserve (Fed) hiked interest by as much as 75 basis points (bps) at one go, but the hike did not generate the required confidence that...

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Moneylife Digital Team 21 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has rejected a proposal by asset management companies (AMCs) to introduce mutual funds (MF) schemes with insurance features for scheme investment like systematic investment plan (SIP) insure.   In a letter to the...

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Moneylife Digital Team 21 June 2022
The Reserve Bank of India (RBI) has clarified that non-bank institutions cannot load credit lines on prepaid payment instruments (PPIs) like e-wallets and prepaid cards. This clarification from RBI, which is not available on its website till writing this report, would impact credit products...

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Moneylife Digital Team 21 June 2022
Private sector lender Yes Bank on Tuesday announced the launch of floating-rate fixed deposit (FD) for domestic customers. In this new product, the interest rate will keep fluctuating based on the changes in repo rate, allowing the customers of the Bank to enjoy dynamic returns on their fixed...

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Moneylife Digital Team 21 June 2022
Time Technoplast Limited (TTL) is a multinational company (MNC) and one of the leading manufacturers of technology-based polymer and composite products for industrial packaging, automotive and material handling. It has 34 production facilities in 11 countries with a strong presence in Asia &...

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Moneylife Digital Team 21 June 2022
Hikal faced several headwinds in Q4FY21-22 which led revenue to decline by 6% y-o-y (year-on-year) and 2% q-o-q (quarter-on-quarter) to Rs502 crore, due to weak performance from the crop protection segment. Revenue from the crop protection business declined by 17% y-o-y to Rs194 crore, due to...

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Fake crypto-currency (Crypto) exchanges have duped Indian investors of more than $128 million (nearly Rs1,000 crore) as the global Crypto market tanks, a new report claimed on Tuesday.   Cyber-security company CloudSEK said it has uncovered an ongoing operation involving several...

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Almost 38%-40% complaints to the National Consumer Helpline (1519) were against the e-commerce companies last month, a top government official said on Monday.   "A powerful person in Delhi called me and said, I had ordered two chairs from Amazon and only one has been delivered. I have...

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The state consumer disputes redressal commissions in Assam, Bihar, Haryana, Jharkhand, Karnataka, Maharashtra, Telangana and Uttarakhand have less than 50% disposal rate, adding to the overall pendency of over 600,000 cases at the national, state and district level consumer...

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Digital infrastructure services provider Cloudflare suffered an outage on Tuesday when several popular platforms like Discord, DoorDash, NordVPN, Zerodha, Upstox and others went down for users globally, including in India.   Cloudflare said it identified the issue and rolled out a fix...

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Peter Elkind (ProPublica) 21 June 2022
This story was originally published by ProPublica.   The US Internal Revenue Service (IRS), the Justice Department and Congressional Republicans and Democrats are all trying to put an end to syndicated conservation easements. But with lobbyists like Henry Waxman helping lead the...

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Moneylife Digital Team 20 June 2022
Even as Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telecom Nigam Ltd (MTNL) are struggling hard to survive the onslaught, private telcos are now snatching more and more landline subscribers from the State-run telecom companies. In fact, during fiscal 2022, both BSNL and MTNL lost 17%...

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GS Bajpai  and   Neha Kapur (The Leaflet) 20 June 2022
The Supreme Court’s decision to consider banks as promoters for the purpose of the RERA Act will lead to a conundrum in the execution of the three legislations namely, the RERA, the SARFAESI Act, and the IBC. —– On 14 February 2022, the division bench of the Supreme Court consisting...

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The income-tax (I-T) department said on Monday that it carried out search and seizure operations on 15th June at the premises of a leading industrial group in Chennai engaged in the business of manufacturing of IMFL (Indian made foreign liquor), logistics, hospitality and entertainment, for...

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The Central Bureau of Investigation (CBI) is conducting raids at the office of the joint drug controller of the central drugs standard control organization (CDSCO) in connection with a bribery case.   CBI said the raids were going on in Delhi.   A source said that Eswara...

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