Wednesday, November 27
Meet Rajiv Jain who gained 1700 crore in nine months via Adani shares
Axiscades Technologies (Axiscades) on Wednesday said it has acquired 100 per cent stake in Hyderabad-based Epcogen. Epcogen specialises in engineering design and providing solutions for the energy sector, Axiscades said in a statement.Axiscades CEO and MD Arun Krishnamurthi said Epcogen has significant operations in the North American and Middle East geographies. "This strategic move not only augments our competency but also propels our expansion as a service provider into the global energy industries," he said.
Your thali cost has gone up! Home-cooked vegetarian and non-vegetarian thalis saw a month-on-month price increase of 10% and 5%, respectively, according to CRISIL MI&A Research's estimates in November.
The Indian government is looking to take measures to address the growing concern over digital financial frauds. Discussions have begun among key stakeholders to develop new filters and safeguards for digital transactions. Proposed measures include mandatory filters for high-value transactions and the use of one-time passwords.
The central government seeks parliament's approval for additional spending of 1.29 trillion rupees in the current fiscal year. The spending will mainly go towards higher subsidies for farmers and a rural job employment programme. The government plans to spend 133.51 billion rupees for fertiliser subsidies and another 145.24 billion rupees for the rural unemployment scheme. Prime Minister Narendra Modi's administration aims to boost the rural economy by providing welfare measures such as food and fertiliser subsidies and cheaper cooking gas.
The central government plans to open retail stores at major metro stations in Delhi to provide subsidised kitchen essentials like onion, pulses, and atta to consumers. The initiative aims to address the issue of elevated prices of food essentials.
The US government extended a $553 million loan to Gautam Adani's conglomerate for a container terminal in Sri Lanka despite allegations of corporate fraud by Hindenburg Research. The International Development Finance Corp (DFC) conducted a due diligence investigation and concluded that the accusations in the short-seller's report were not applicable to Adani Ports & Special Economic Zone Ltd, the subsidiary leading the Sri Lankan project. The DFC will continue to monitor Adani Group to prevent unintentional support of financial misconduct.
The Securities Appellate Tribunal (SAT) reprimanded SEBI for its lackadaisical approach in failing to defreeze the shares of the Kirloskar family. SAT observed that SEBI's approach was contrary to the spirit of the SEBI Act, which is meant to protect the interest of investors. The tribunal criticized the blame game between SEBI and NSDL and highlighted the apathy shown by SEBI in not taking follow-up action. The shares of the appellants remained frozen for over a year despite their appeals being allowed. SEBI has been directed to pay a cost of Rs 5 lakh to SAT.
India's space regulator Indian National Space Promotion and Authorization Centre (IN-SPACe) has announced the launch of a seed fund scheme that is “aimed at promoting space technology”. The scheme has the provision of providing financial assistance of up to Rs 1 crore in addition to mentorship support, training and networking opportunities. The funding plan is designed to support space startups, those aiming to develop innovative space products and services that can improve the quality of life of people and communities in India and around the world.
