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Moneylife Digital Team 29 June 2022
Alicon Castalloy Ltd (Alicon) was formerly known as Enkei Castalloy; its new name originated from combination of aluminium and icon to form Alicon. It manufactures aluminium castings, such as cylinder heads, support brackets, crankshafts and engine brackets, for the auto industry. Alicon...

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Moneylife Digital Team 29 June 2022
Securities and Exchange Board of India (SEBI) has asked PTC India Financial Services (PFS) not to make any changes to the company’s board till the completion of the forensic audit.   Earlier in January, SEBI had asked PFS to address corporate governance and other issues raised by its...

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Moneylife Digital Team 29 June 2022
Securities and Exchange Board of India (SEBI) has issued new adjustment rules for dividends in futures and options (F&O) scrips.   "It has been decided that the adjustment in derivative contracts shall be carried out in cases where dividends declared are at or above 2% of the market...

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Moneylife Digital Team 29 June 2022
Online coding provider WhiteHat Jr, the beleaguered platform under edtech giant BYJU's umbrella, has laid off around 300 employees, after more than 1,000 of its employees resigned after being asked to return to office in April-May.   This time, most of the fired employees belonged to...

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The Centre on Tuesday claimed that the ban on single use plastic (SUP) from July 1 would be implemented strictly across India by setting up state and national level control rooms, along with border points to check inter-state movement etc.   However, with punitive action delegated to...

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The US Federal Trade Commission (FTC) has sued retail commerce giant Walmart for allegedly allowing its money transfer services to be used by fraudsters, who fleeced consumers out of more than $197 million.   In its lawsuit, the FTC alleged that for years, the company turned a blind...

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As fires in electric vehicles (EVs) continue unabated in the country, an expert committee set up by the Union Road Transport and Highways Ministry has found safety system flaws in batteries of electric two-wheelers.   The electric two-wheeler manufacturers took shortcuts in order to...

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Moneylife Digital Team 29 June 2022
The US Securities and Exchange Commission (SEC) has charged Ernst & Young LLP (EY) for cheating by its audit professionals on exams required to obtain and maintain certified public accountant (CPA) licenses and for withholding evidence of this misconduct from the SEC's enforcement division...

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India records 14,506 new COVID cases, 30 deaths in past 24 hours 29-06-2022 10:50 India reported 14,506 new Covid-19 cases in a span of 24 hours, which is a substantial increase over the previous day's count of 11,793, said the Union Ministry of Health and Family Affairs on Wednesday.

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Major Gen SG Vombatkere (The Leaflet) 29 June 2022
Agnipath 2022 is the latest of schemes with large-scale, long-term national implications, pushed into implementation without discussion or consultation in Parliament.   ——————   The Tour of Duty scheme of recruitment for the Defence Services is catchily named ‘Agnipath’, and...

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Remember, in March-April 2018, the Indian press was abuzz with the news that Walmart was likely to pick up a substantial stake in Flipkart. The actual deal was announced on 9 May 2018. However, something happened even before the deal was announced.    The Economic Times (ET)

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Moneylife Digital Team 28 June 2022
In an example of how the market regulator has multiple proceedings on the same issue, the Securities and Exchange Board of India (SEBI) has imposed penalties of Rs12 crore on two Sahara group firms for an issue going back to 2008-09. A whole decade after the pathbreaking supreme court (SC)...

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Moneylife Digital Team 28 June 2022
Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani has decided to step down from the board of RIL unit Reliance Jio Infocomm Ltd. Reliance Jio has named his son Akash Ambani as the new chairman.   In a regulatory filing, Reliance Jio says, "The board of...

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Moneylife Digital Team 28 June 2022
With value pricing, convenience, selection and fast deliveries offered by e-platforms, for many household consumers, the migration from going to a market to shopping for most things online has become a permanent change. While the majority of consumers relies on product reviews and ratings,...

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The toll in the Mumbai building crash has risen to 14 and at least 13 others, including a woman, were injured, the BMC (brihanmumbai municipal corporation) disaster control said on Tuesday.   According to officials, the entire wing of the ground-plus-three floor Naik Nagar Building in...

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Adani Ports and Special Economic Zone Ltd has moved the Supreme Court (SC), challenging the Bombay High Court (HC) order, which declined to entertain its plea against the disqualification of its bid in a tender issued by the board of trustees of Jawaharlal Nehru Port Authority...

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Pallonji Shapoorji Mistry, the billionaire realtor and industrialist, and Chairman Emeritus of the venerable Shapoorji Pallonji Group, passed away at his home here late last night, official sources said here on Tuesday.   He was 93 and is survived by his sons Shapoorji and...

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The Calcutta High Court on Monday appointed a judicial committee to ensure that the victims in West Bengal who have lost their hard-earned money after investing in different chit fund companies are duly compensated.   Calcutta High Court's division bench of Justice Indra Prasanna...

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Moneylife Digital Team 28 June 2022
Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs4 lakh on four individuals for violation of insider trading norms in the shares of Mindtree Ltd during the January-March 2019 period when they were designated employees. The regulator has imposed a penalty of Rs1...

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Moneylife Digital Team 28 June 2022
Two weeks ago, we had discussed a 3-factor model for short-listing bank stocks here. According to the model, The Karur Vysya Bank Ltd (KVB) emerged as the most favourable bank in terms of a combined score, based on three factors of growth—capacity, earnings quality and valuation. In this...

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