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On Monday, the Securities Appellate Tribunal (SAT) caused quite a buzz by allowing the National Stock Exchange’s (NSE) demand to release Rs6,085 crore of revenue earned from its algo trading and co-location (Colo) services.                   Asking the Exchange to block this sum in an...

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Sucheta Dalal Sucheta Dalal 14 August 2020
Remember the four politically powerful promoters of the Sterling Biotech group (Nitin Sandesara, Chetankumar Sandesara, Dipti Chetan Sandesara—and Hiteshkumar Patel) who have been absconding from India after running up Rs15,600+ crore of bad loans? They continue to manipulate the judicial...

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Moneylife Digital Team 28 July 2020
Updated on 4 August 2020 at 7.10pm to include details of Mr Puri stake sale from a conference all with analysts... Last week, Aditya Puri, managing director (MD) and chief executive of HDFC Bank sold nearly 95% of his stake valued at Rs842.7 crore. Nothing new in this. In fact, several...

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Moneylife Digital Team 28 August 2021
Global companies looking to de-risk supply chains from China have changed the fortunes for many chemicals companies in India. One of the beneficiaries of this trend has been Deepak Nitrite Ltd (DNL), incorporated in 1970 by Chimanlal K Mehta. It started as a sodium nitrite and sodium nitrate...

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Moneylife Digital Team 13 January 2021
Laxmi Organic Industries (Laxmi) is a specialty chemicals manufacturer with a focus on manufacturing acetyl and other specialty intermediates. Its Rs800 crore IPO (initial public offer) will contain a fresh issue of shares worth Rs500 crore and sale of shares worth Rs300 crore by the...

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Moneylife Digital Team / IANS 09 October 2020
We had mentioned in last week’s closing report that Nifty, Sensex may rally more. The major indices rallied this week and closed with major gains.   The trend of the major indices in the week is given in the table:     On Monday, the major indices opened in the green...

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Moneylife Digital Team 07 October 2020
In its institutional research report on Vedanta released on 5th October, ICICI Securities (ISec) had mentioned that the book value of Rs89.3/share was “approved by SEBI.”   This shocked the financial community because the Securities and Exchange Board of India (SEBI) has no role in...

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The Reserve Bank of India (RBI) has come up with additional measures to curb the use of multiple operating accounts for loans wherein banks have been directed not to open current accounts for customers already availing credit in the form of cash or overdraft (OD).   During the video...

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R Balakrishnan R Balakrishnan 02 September 2020
This is a letter to all the netas and babus who pay lip service to senior citizens (SCs). An SC is usually a retired person, usually someone who has no regular earnings except from his savings and investments. We work, earn and save till we are 58 or 60. Sometimes, in the private sector, we...

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Moneylife Digital Team 16 July 2021
Fresh broker defaults continue and the industry is now seeing a record 28 defaults or expulsions since November 2019, just a little before the pandemic. In our article in December 2020, we reported that this was the highest number of broker defaults in the past 20 years. Until then, there...

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Moneylife Digital Team 23 September 2020
The Reserve Bank of India (RBI) has appointed AK Dixit, former general manager at Union Bank of India, as the new administrator of Punjab and Maharashtra Cooperative (PMC) Bank.   He will replace JB Bhoria, who, RBI says, is stepping down due to health reasons.   In a release,...

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Maya M 10 August 2020
On 30 July 2020, the Reserve Bank of India (RBI) extended its directions to the Vasantdada Nagari Sahakari Bank, the Kapol Cooperative Bank and the Maratha Sahakari Bank. All three urban cooperative banks are from Maharashtra.    Mumbai-based Maratha Sahakari Bank was placed under RBI...

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Sucheta Dalal Sucheta Dalal 09 October 2020
On 18 August 2020, the Securities Appellate Tribunal (SAT) issued a landmark order that exposes the callousness of the regulatory system and holds a big lesson for those holding corporate directorships. Associating with a dodgy company can have far-reaching personal consequences, both in...

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Bhagyalakshmi Seshachalam Bhagyalakshmi Seshachalam 01 August 2020
In an otherwise non-controversial career, the row over the payment of royalty is what irked the even-tempered Mohammed Rafi. In the early 60s, Lata Mangeshkar demanded a half-share from the 5% royalty that a film’s producer obtained from the music company. But Rafi did not support her in this...

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Akshay Naik 15 September 2020
Investors who seem in danger of losing nearly Rs1,000 crore with Anugrah Stock & Broking Pvt Ltd now suspect that the owner, Paresh Kariya, may have been diverting funds into real estate and other businesses. A director’s database search by the names of Mr Kariya and his wife throw up other...

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Moneylife Digital Team / IANS 01 September 2020
We had mentioned Monday’s closing report that Nifty, Sensex fell sharply due to contraction in the GDP of the economy in April-June 2020 quarter. On Tuesday, the major indices closed with minor gains. On the NSE, there were 818 advances,1,016 declines and 349 unchanged.   The trends...

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Yogesh Sapkale Yogesh Sapkale 14 December 2020
While the common borrowers are struggling with repaying equated monthly instalments (EMIs) of their loans and also face harassment for missing a single EMI, big and wilful defaulters seem to not only go scot-free but also 'live life king-size' without any worry or fear of any action due to...

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The Reserve Bank has asked urban co-operative banks to implement system-based asset classification.   The move is expected to improve the efficiency, transparency and integrity of the current asset classification system in UCBs.   Accordingly, system-based asset classification...

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Sucheta Dalal Sucheta Dalal 30 June 2021
On 25th June, Moneycontrol reported that the government may review the bankruptcy code as public sector banks (PSBs) have begun to accept haircuts as high as 94% to let off the biggest corporate defaulters. Well, it is long overdue. These ridiculous haircuts, or loan waivers, are over and...

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Clinton Fernandes 26 September 2020
The Internet has made it very easy for asset management companies (AMCs) to onboard customers, handle transactions and payments and offer a suite of value-added services to its mutual fund (MF) investors.    One such service is the systematic investment plan (SIP). An SIP allows...

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