Rigi, a creator enterprise founded to empower online creators, announces the launch of GapUp – a discovery platform designed to make it easier for users to find trusted experts. It offers a comprehensive range of courses, live interactions, and vibrant communities, giving authentic knowledge seekers and influencers an avenue to express themselves in the rapidly expanding digital landscape.
Open FlipSebi has extended the deadline for physical security holders to nominate or submit PAN, nomination, contact details, bank account details and specimen signatures in demat accounts to 31st December 2023. This move is part of a concerted effort to ease doing business in India. Stock exchanges, depositories, brokers and other stakeholders have all contributed to this decision.
Open FlipNuvama Wealth Management, a new stock market entrant spun off from Edelweiss Financial Services, made its debut on Tuesday ending 5% lower than its open price. Nuvama is backed by Private Equity Fund PAG with 56% holding and Edelweiss Group with 14%, while public shareholders of Edelweiss Financial hold remaining 30%. Nuvama manages over ₹2.5 trillion in client assets through its network.
Open Flip📈 Amid weak global cues, domestic benchmark indices started gap-down on September 27 📢 At 9:16 AM, the Sensex tanked 166.21 points or 0.25% at 66,779.26, and the Nifty plunged 43.85 points or 0.22% at 19,620.85. 📊 Vedanta (⬇️4.46%), Hind Copper (⬇️2.08%) and M&M Financial (⬇️1.77%) appeared as the top losers on the Nifty 50 at the Open.
Open FlipIL&FS Financial Services Ltd (IFIN), an IL&FS Group subsidiary, on Tuesday approved an interim distribution payout of ₹807 crore, marking the second such payout by the company this year.IFIN had in February made an interim distribution payout of ₹3,200 crore to creditors. With the latest distribution, total interim payouts by IFIN currently stands at ₹4,007 crore.
Open FlipMoody's has downgraded Vedanta Resources to Caa2, reflecting its weak liquidity and substantial debt due in the next few months. It has warned of further downgrades if VRL fails to make meaningful progress on financing arrangements in order to meet its upcoming obligations.
Open FlipSept. 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.
Open FlipSEC 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
Open Flip📌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,
Open FlipIndia 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.
Open FlipThe 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.
Open FlipGAIL 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.
Open FlipSai 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.
Open FlipValiant 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.
Open FlipMoneyGram 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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