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Moneylife Digital Team 28 January 2023
Ramkrishna Forgings Ltd (RKFL) reported a strong set of numbers for Q3FY22-23 on account of steady growth in the commercial vehicles (CV) segment, led by high utilisation resulting from increased economic and infrastructure activity. The management was confident about the business growth...

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Moneylife Digital Team 28 January 2023
Newgen reported gross quarterly revenue of Rs255 crore, up 12.83% quarter-on-quarter (q-o-q) and 25.61% year-on-year (y-o-y). Operating profit was Rs59 crore—up 55.26% q-o-q and 1.72% y-o-y—and net profit was Rs48 crore—up 60% q-o-q and 2.17% y-o-y. The annuity segment grew 38% y-o-y and...

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The directorate general of civil aviation (DGCA) has imposed a fine of Rs10 lakh on Go Air for violation of rules.   On 9th January, a Go Air flight on the Bengaluru-Delhi route took off leaving behind 55 passengers in the passenger coach at the Bengaluru airport.   The...

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Moneylife Digital Team 27 January 2023
Shoppers Stop (SS) came up with strong Q3FY22-23 results. Higher sales were driven by strong private label sales and volume increase. Shoppers Stop is one of the leading department stores operators, mainly in the fashion and beauty segment. Spread across 96 department stores in 50 cities, the...

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Moneylife Digital Team 27 January 2023
Granules India (Granules) continues to report healthy numbers y-o-y (year-on-year). We had earlier covered Granules in detail here. In Q3FY22-23, revenue was up by 15% y-o-y to Rs1,146 crore, driven by strong demand in paracetamol. With supply issues far behind with regard to its raw...

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Moneylife Digital Team 27 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Sugal Commodities Brokers Pvt Ltd (SCBPL) for dealing and facilitating the trade of paired contracts on the National Spot Exchange Ltd (NSEL). Earlier this month SEBI had cancelled the...

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Moneylife Digital Team 27 January 2023
Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs30 lakh on Pinnacle Market Investment Advisory Pvt Ltd and Safe Trader Pvt Ltd for violating various rules and regulations. While Pinnacle Market Investment Advisory is fined Rs28 lakh for improper risk profiling, not...

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Moneylife Digital Team 27 January 2023
Nifty ended below 17,700 and Sensex slumped 874.16 points on Friday. On the Bombay Stock Exchange (BSE), 887 stocks advanced, 2671 declined and 100 remained unchanged with advance decline ratio of 0.33, indicating a negative closing of stocks in broader markets.   The trend of...

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Moneylife Digital Team 25 January 2023
Shares of Adani group of companies fell sharply during Wednesday’s trading session following a report by US-based Hindenburg Research. Hindenburg says it holds short positions in Adani group companies through US-traded bonds and non-Indian-traded derivatives, along with other...

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Moneylife Digital Team 25 January 2023
The post-COVID rally in equity markets brought an initial public offer (IPO) fever which has led to erosion of wealth for many retail investors who invested in IPOs directly or through their mutual funds (MFs). The year 2021 witnessed the highest-ever amount raised by companies collectively...

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Moneylife Digital Team 25 January 2023
While imposing a penalty of Rs26 crore, the Securities and Exchange Board of India (SEBI) has asked Coffee Day Enterprises Ltd (CDEL) to appoint an independent law firm to recover its dues worth Rs3,494 crore from the company's subsidiary Mysore Amalgamated Coffee Estates Ltd (MACEL). Out of...

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Moneylife Digital Team 25 January 2023
Securities and Exchange Board of India has banned Agrich Traders and its proprietor Prakash Shyamlal Rathod from the market for six months, for offering investment advisory to investors without obtaining registration from the market regulator.    In an order, SK Mohanty, whole-time...

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Moneylife Digital Team 25 January 2023
Reserve Bank of India (RBI) has imposed monetary penalties on two cooperative banks, one from Gujarat and one from Maharashtra, for non-compliance with various rules prescribed by the central bank. Nutan Nagarik Sahakari Bank Ltd from Ahmedabad is fined Rs26 lakh, while Samarth Sahkar Bank...

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Moneylife Digital Team 25 January 2023
Polycab reported gross quarterly revenue of Rs3,715 crore, up 11.5% quarter-on-quarter (q-o-q) and 10.17% year-on-year (y-o-y). Operating profit was Rs503 crore—up 17.8% q-o-q and 38.95% y-o-y—and net profit was Rs361 crore—up 33.70% q-o-q and 14.24% y-o-y. The wires & cables segment...

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Moneylife Digital Team 25 January 2023
Nifty ended below 17,900 and Sensex slumped 773.69 points as investors, as most Adani group shares crashed on the last day of F&O expiry, following an expose by US-based Hindenburg Research. On the Bombay Stock Exchange (BSE), 1120 stocks advanced, 2396 declined and 130 remained unchanged...

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Moneylife Digital Team 24 January 2023
The National Company Law Appellate Tribunal (NCLAT) rejected an application filed by Adisri Commercial Pvt Ltd, a shareholder of Srei Infrastructure Finance Ltd, the holding company of Srei Equipment Finance Ltd. Adisri Commercial has refiled the plea after a delay of 321 days and challenged...

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Moneylife Digital Team 24 January 2023
Aviation regulator DGCA (director general of civil aviation) imposed a financial penalty of Rs10 lakh on Air India for not reporting the incidents which occurred on AI-142 Paris-New Delhi flight on 6 December 2022.   Two incidents had occurred in the Air India flight. While one...

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Taking cognizance of a complaint, Haryana Real Estate Regulatory Authority (HRERA), Gurugram, on Monday passed an order restraining the Bank of Baroda from proceedings with the e-auction that the bank is set to conduct on January 24 in CHD E-Way Tower at Sector 109, Gurugram.   The...

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Moneylife Digital Team 24 January 2023
While designating sovereign green bonds (SGrBs) as specified securities under fully accessible route (FAR), the Reserve Bank of India (RBI) allowed non-residents to invest in these bonds through the same route without any cap.    In a notification, RBI says, “The government sovereign...

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Moneylife Digital Team 24 January 2023
On the Bombay Stock Exchange (BSE), 1534 stocks advanced, 1970 declined and 146 remained unchanged with advance decline ratio of 0.78, indicating a negative closing of stocks in broader markets.   The trend of the major indices on Tuesday’s trading is given in the table...

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