Late Rakesh Jhunjhunwala, the investor and market giant, will be posthumously awarded the Padma Shri in recognition of his outstanding contributions to trade and industry. He founded RaRe Enterprises, a private stock trading firm, in 1992 and established himself as one of India's richest and most successful stock market investors and traders, having entered the market when Sensex was at just 150.
Open FlipThe Texas legislature has introduced a bill aimed at attracting more Bitcoin-related businesses to the state while safeguarding the rights of BTC owners, miners, and developers. The bill seeks to provide legal protection for those engaged in Bitcoin activities, including the ability to store BTC in an unhosted wallet without state interference &immunity from censorship-resistant Bitcoin spending.
Open FlipKorean singer and rapper G-Dragon is releasing an NFT collection on Wednesday called “Archive of PEACEMINUSONE,” which consists of 13,444 puzzle pieces that create a painting he made in 2016. Each NFT will be sold for 0.27 BNB ($88) on OpenSea. Holders of the NFTs may also receive concert tickets, early merchandise access, and physical certificates with autographs and drawings from G-Dragon.
Open FlipThe Global Surfaces IPO is quickly approaching, with a tentative value of ₹154.98 crore, and expected listing date of 23rd March 2023. In the lead up to the IPO's debut on the stock market, the grey market has become slightly optimistic about the public issue. The GMP on the issue has increased by ₹4 since Tuesday, and is currently at ₹19.
Open FlipShriram Finance has agreed to a 25-month bond with HSBC, which will allow them to cap their liabilities in the event of an interest rate increase after one year, while also taking advantage of any rate decreases. The bond will have a fixed 8.95% interest rate for the first 13 months and will be linked to one-year overnight indexed swaps (OIS) for the remainder of the term.
Open FlipThe board of Angel One Ltd has approved a fourth interim dividend of ₹9.60 per share for the FY 2022-23, causing the company's shares to rally by over 3% on Wednesday. The dividend will be paid on or before April 20, 2023 to those members whose names are listed on the Register of members or in the records of depositories as the beneficial owners of the shares as of March 31, 2023- the record date.
Open FlipGautam Adani suffered a Rs 3,000 crore shock every week over the last year as his wealth tumbled to $53 billion, as per M3M Hurun Global Rich List 2023 released data today. With a net loss of $28 billion, Adani also gave away his status as India's richest individual to Mukesh Ambani with an estimated net worth of $82 billion.
Open FlipSince its introduction, the Central Bank of Nigeria's digital currency eNaira has seen a significant increase in usage. On Tuesday, March 21, Governor Godwin Emefiele reported that eNaira transactions had risen by 63% to 22 billion nairas ($47.7 million). Additionally, the total number of CBDC wallets has grown by more than double since October 2022.
Open FlipRakuten Bank Ltd.'s IPO is expected to raise up to 116.6 billion yen ($881 million) for the firm and its parent, making it Japan's largest listing in more than four years. Rakuten Holdings Inc.'s banking business established an indicative price range of 1,630 yen to 1,960 yen per share for its Tokyo IPO on Wednesday. The stock will begin trading on the Tokyo Stock Exchange on April 21.
Open FlipOn March 28, the Political Affairs Committee of the National Assembly of South Korea will be holding its first bill review session to discuss and propose bills concerning virtual assets. Currently, there are 18 bills related to virtual assets pending at the Political Affairs Committee.
Open FlipThe IPO of Udayshivakumar Infra has continued seeing a positive response on March 22, the third day of bidding. The IPO size was 2 crore shares, and bids for 7.45 crore equity shares have been received, resulting in a subscription of 3.73 times. High networth individuals have been particularly enthusiastic about the offer, subscribing 5.91 times the allotted quota.
Open FlipAsian Energy Services' stock rose on March 22 after the company received a Rs 165 crore order from Svetah Energy Infrastructure FZE in the UAE. The order covers the operation and maintenance of the Svetah Venetia floating production storage and offloading system, which will be installed for oil and gas production in the offshore area near Pondicherry on India's east coast.
Open FlipIf you are thinking of taking a cheap home loan, the State Bank of India has brought the best offer for you. State Bank of India (SBI) provides home loans at 8.5% to customers with credit scores above 750. Similarly, Housing Development Finance Corp (HDFC) is offering 8.7% to customers with a credit score above 760.
Open FlipNikhil Gandhi, the COO of MX Player, announced on Wednesday (March 22) that he is leaving his post to pursue other interests. Gandhi is currently serving out his notice period to ensure a smooth transition. This is in after Amazon has begun to investigate MX Player with the intention of purchasing it from Times Internet, who bought it for $144 Mn in 2018.
Open FlipBritain's inflation rate increased for the first time in four months, shocking economists and boosting pressure on the Bank of England to raise interest rates at its meeting on Thursday. As per the Office for National Statistics, the consumer price index increased to 10.4% in the year to February from 10.1% the previous month, as rising energy prices continued to pressure household budgets.
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