Intriguing crypto developments persist, despite brutal September
Wed, Sep 27, 2023 9:01 AM

Intriguing crypto developments persist, despite brutal September

Sept. has proven to be a volatile month for the markets, largely due to interest rate speculation from the Federal Reserve. JPMorgan's CEO Jamie Dimon has warned of potential rates up to 7%. A strategist recommended defensive stocks which has proven beneficial in light of stock downturns and reduced values of recently offered companies (e.g. Instacart). 401(k)'s have taken a hit.

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Gensler calls for crypto compliance ahead of Wednesday hearing
Wed, Sep 27, 2023 9:00 AM

Gensler calls for crypto compliance ahead of Wednesday hearing

SEC Chair Gensler reiterated at a congressional hearing that crypto and crypto firms are subject to federal securities laws, citing the agency’s rulemaking and the problems noncompliance has caused in these markets. Gensler will likely receive criticism from Rep. McHenry over providing clarity on how firms can comply. Meanwhile Democrats such as Waters side with Gensler's view & realizes security

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Check out these buzzing stocks today!
Wed, Sep 27, 2023 8:57 AM

Check out these buzzing stocks today!

📌Signature Global India and Sai Silks Kalamandir list shares in T+3 timeline on Sept 27; 📌Infosys partners w/ MSFT to develop AI-enabled solutions; 📌Container Corp appoints Chair, 📌Blue Star invests in subsidiary, 📌3i Infotech signs contract with Ujjivan Bank, 📌Shyam Metalics enters energy storage, 📌Dilip Sangvi ends agreement with Suzlon,

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Availability of green hydrogen to reduce dependence on coal in steel making
Tue, Sep 26, 2023 9:07 PM

Availability of green hydrogen to reduce dependence on coal in steel making

India is leading the way to a greener energy generation and consumption landscape with the approval of the National Green Hydrogen Mission, a Rs 19,744 crore initiative. This will reduce India's dependence on coal for steel-making, as we have seen at Jamshedpur plant in Jharkhand where Tata Steel plans to use hydrogen in the process.

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U.S. Treasury goes after Sinaloa Cartel ETH wallet used to traffic fentanyl
Tue, Sep 26, 2023 9:05 PM

U.S. Treasury goes after Sinaloa Cartel ETH wallet used to traffic fentanyl

The U.S. Department of the Treasury's Office of Foreign Assets Control sanctioned a member of the Sinaloa Cartel, operating a money laundering organization via virtual currency and wire transfers to send proceeds to the cartel’s leaders. Sanctions include freezing any assets in the U.S. and barring U.S. persons from dealings with the prohibited member.

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GAIL Gas expanded presence to 16 geographical areas in FY23: Chairman
Tue, Sep 26, 2023 9:03 PM

GAIL Gas expanded presence to 16 geographical areas in FY23: Chairman

GAIL Gas had a successful fy23, expanding to 25 geographical areas in 14 states and increasing their CNG stations from 250 to 352. They also obtained Proprietary membership opportunities and saved an estimated Rs 9 crore with 3 HPHT ceiling price gas bidding. In domestic business, they added over 40,000 customers and the consumer base with gas connections rose to 140,000 in the residential sector.

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Sai Silks IPO to see lacklustre listing amid low GMP, weak markets
Tue, Sep 26, 2023 9:00 PM

Sai Silks IPO to see lacklustre listing amid low GMP, weak markets

Sai Silks Ltd, is poised to debut on the bourses on September 26 and may not see much of an appreciation due to its low GMP, market weakness, and lower subscription. Despite this, they have a strong network of 54 stores, offer a wide range of products, had multiple investors in their anchor book, and are backed by strong operating performance evidenced from their rising profits and EBITDA margins.

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Valiant Laboratories raises Rs 45.74 crore via anchor book ahead of IPO
Tue, Sep 26, 2023 8:58 PM

Valiant Laboratories raises Rs 45.74 crore via anchor book ahead of IPO

Valiant Laboratories planned to raise Rs 152.46 crore through an IPO, opening the offer at a price of Rs 133-140 per share on September 27th and closing it on October 3rd. Four anchor investors (leading Light Fund VCC, Saint Capital Fund, Astorne Capital VCC & Negen Undiscovered Value Fund) together mobilised Rs 45.74 crore prior to the opening day.

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Wire service MoneyGram to release non-custodial crypto wallet in 2024
Tue, Sep 26, 2023 8:57 PM

Wire service MoneyGram to release non-custodial crypto wallet in 2024

MoneyGram is expanding its crypto and digital payments services by launching its own non-custodial digital wallet. It will enable customers to convert between fiat and crypto and offers the largest level of access for blockchain transactions worldwide. Last month, SDF announced investment in MoneyGram which developed the cash-to-crypto service two years prior.

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Govt extends export benefits under RoDTEP scheme till June 2024
Tue, Sep 26, 2023 8:55 PM

Govt extends export benefits under RoDTEP scheme till June 2024

The Indian Commerce Ministry announced the extension of RoDTEP Scheme, which reimburses taxes and duties incurred in the process of manufacture and distribution of exports, till June 20, 2024. With a budget allocation of Rs 15,070 crore, the scheme had been extended to chemical, pharmaceuticals and steel products since December 2022.

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JPMorgan to block crypto payments from Chase UK bank accounts
Tue, Sep 26, 2023 8:30 PM

JPMorgan to block crypto payments from Chase UK bank accounts

Chase UK recently announced that, citing an increased number of frauds and scams related to cryptocurrencies, they will no longer allow customers to purchase cryptoassets via their debit cards or with outgoing bank transfers from Oct. 16. The move follows similar decisions made by other major lenders in the UK such as HSBC and Nationwide Building Society.

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Gold retreats as dollar, yields rise on hawkish Fed
Tue, Sep 26, 2023 8:28 PM

Gold retreats as dollar, yields rise on hawkish Fed

Gold prices continued to fall on Tuesday, as US Treasury yields and the dollar rose. Fed president reinforced the view that inflation remains above the target of 2% and is a greater risk than low central bank policy. This had an impact on investors who fear the Fed could over-tighten, creating downward pressure on gold demand, as higher interest rates increase the opportunity cost of holding it.

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Tax department notifies 'Angel Tax' rules for investments in startups
Tue, Sep 26, 2023 8:25 PM

Tax department notifies 'Angel Tax' rules for investments in startups

The new budget includes a taxation rule where any excess premiums on Startups registered by the Department for Promotion of Industry and Internal Trade (DPIIT) will be considered as 'income from sources' and will be taxed at a rate up to 30%. Startups registered by DPIIT are exempt, which means they don't need to pay the tax.

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PACL case: Sebi panel asks certain investors to submit original documents
Tue, Sep 26, 2023 8:23 PM

PACL case: Sebi panel asks certain investors to submit original documents

A Sebi committee headed by former Chief Justice of India RM Lodha is overseeing the refund process & has ordered investors with claims up to Rs 19,000, whose applications have been verified, to submit original PACL registration certificates by October 31, 2023. This follows an order from Sebi in 2015 for PACL to refund over Rs 60,000 crore it had illegally collected from the public.

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Centre to borrow Rs 6.55 lakh crore via bonds in second half of FY24
Tue, Sep 26, 2023 8:20 PM

Centre to borrow Rs 6.55 lakh crore via bonds in second half of FY24

In 2023-24, the govt. has allocated a record Rs 15.43 lakh crore borrowing programme. Of this, Rs 6.55 lakh crore will be issued via government securities - with Green Bonds amounting to Rs 20,000 crore - in the second half, ranging from annually maturing 3 year bonds to 50 year bonds for the first time. Weekly bond auctions to manage the borrowing will range from Rs 30,000-39,000 crore.

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