Piramal Group secures RBI approval for DHFL takeover
Thu, Feb 18, 2021 2:41 PM

Piramal Group secures RBI approval for DHFL takeover

Piramal Group secured the critical RBI approval for DHFL takeover. The central bank's nod has cleared the way for Piramal Group's takeover of DHFL pending NCLT approval. DHFL is a deposit-taking housing finance company, headquartered in Mumbai. On 20 Nov 2019, the RBI removed the board of directors of the company citing corporate governance failure and the company's defaulted payment obligations.

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Motilal Oswal AMC set to launch index fund to capitalise on EM rally
Thu, Feb 18, 2021 2:29 PM

Motilal Oswal AMC set to launch index fund to capitalise on EM rally

Motilal Oswal Asset Management Company is considering an index fund for tracking a basket of emerging market equities to capitalise on the ongoing rally in the asset class, said Pratik Oswal, head of passive funds at the mutual fund. The mutual fund has already applied to the Securities and Exchange Board of India for approval to launch the fund and is waiting for their clearance.

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Dr Reddy's introduces Fluphenazine Hydrochloride tablets in US
Thu, Feb 18, 2021 1:33 PM

Dr Reddy's introduces Fluphenazine Hydrochloride tablets in US

Dr Reddy's Laboratories on Thursday launched Fluphenazine Hydrochloride tablets in the US market. The medicine is used for management of manifestations of psychotic disorders. It is a therapeutic equivalent generic version of Prolixin tablets approved by the USFDA. Dr Reddy's Fluphenazine Hydrochloride tablets, USP, are available in 1 mg, 2.5 mg, 5 mg, and 10 mg tablets in 100 bottle sizes.

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$11.5 million raised by Vogo Series C Funding
Thu, Feb 18, 2021 1:23 PM

$11.5 million raised by Vogo Series C Funding

Two-wheeler rental startup Vogo raised $11.5 Mn in its Series C  funding round from existing investors, including Lightrock, Kalaari, Matrix Partners and Stellaris Venture Partners.  With its latest funding, Vogo will ramp up its electric two-wheeler fleet, streamline business operations after a slow year in 2020 and launch new marketing campaigns to bring back customers, and become profitable.

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Hatsun Agro becomes India’s largest retail network with 3600 outlets
Thu, Feb 18, 2021 1:04 PM

Hatsun Agro becomes India’s largest retail network with 3600 outlets

Hatsun Agroon Wednesday inaugurated its 2500th HAP Daily outlet for milk and curd distribution in Sattenapalle Town, Guntur District of AP. It also inaugurated its 151st outlet in Bhimavaram, Andhra Pradesh. This together with 949 outlets of HAP Daily and Oyalo makes Hatsun Agro Product the owner of the largest retail brand network in India with more than 3600 franchisee run outlets.

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World's Greatest Investors | S1E1 - Benjamin Graham
Thu, Feb 18, 2021 1:00 PM

World's Greatest Investors | S1E1 - Benjamin Graham

Benjamin Graham is one of the greatest investors of all time. The British-born American is also a famous economist and professor. He authored two investment classics of unparalleled importance- Security Analysis (1934) and The Intelligent Investor (1949). Graham is also universally recognized as the father of two fundamental investment disciplines—security analysis and value investing.

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RailTel Corporation IPO subscribed 11 times on the final day
Thu, Feb 18, 2021 12:54 PM

RailTel Corporation IPO subscribed 11 times on the final day

RailTel Corporation will close its IPO on February 18. The Rs 819-crore offer has subscribed 10.92 times as the issue received bids for 66.82 crore equity shares against IPO size of over 6.11 crore shares. The IPO size did not include the anchor book portion as the company already mopped up Rs 244 crore from anchor investors at higher end of price band of Rs 93-94 per share on February 15.

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$27M raised by Shiprocket in Series C from Tribe Capital and March Capital
Thu, Feb 18, 2021 12:06 PM

$27M raised by Shiprocket in Series C from Tribe Capital and March Capital

Shiprocket, a tech-enabled logistics aggregator for D2C sellers confirmed the raising of $27 million (INR 200 Crore) in Series C3 funding round. The round was co-led by Tribe Capital and March Capital. The latest capital infusion brings Shiprocket’s total funding to $53 million. the company will use the fund for its product development roadmap.

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Sebi board relaxes IPO norms for large companies
Thu, Feb 18, 2021 11:49 AM

Sebi board relaxes IPO norms for large companies

The market regulator Sebi's board has decided to lower minimum Public Offer (MPO) requirements for large issuers. It recommended changes in Securities Contracts Rules, 1957 (SCRR) to allow large companies with a market valuation of over Rs1 lakh cr to debut on stock exchanges. The board decided that these issuers shall be required to achieve at least 10% public shareholding in two years.

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GIC Re hits 20% upper circuit limit as government mulls privatisation
Thu, Feb 18, 2021 11:21 AM

GIC Re hits 20% upper circuit limit as government mulls privatisation

General Insurance Corporation of India (GIC Re) shares got locked at the 20 per cent upper circuit limit on Thursday after the government was debating whether the reinsurer should also be divested. The finance ministry and Niti Aayog will together finalise whether the general insurer will be considered for privatisation. At present, the government holds an 85.78% stake in GIC Re.

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Chinese COVID-19 vaccine Vero Cell approved by Nepal for emergency use
Thu, Feb 18, 2021 11:10 AM

Chinese COVID-19 vaccine Vero Cell approved by Nepal for emergency use

Nepal on Thursday waved a green signal to the use of the Chinese COVID-19 vaccine Vero Cell for emergency use, a government official told Reuters, the second shot to be cleared after the AstraZeneca product. "Conditional permission has been granted to the Chinese vaccine for its emergency use in Nepal," said Santosh K.C, a senior official in the Department of Drug Administration.

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Arvind Fashions approves rights issue of ₹199 cr at a price of ₹135/share
Thu, Feb 18, 2021 11:00 AM

Arvind Fashions approves rights issue of ₹199 cr at a price of ₹135/share

Arvind Fashions board on Thursday approved the issue of 1,48,02,856 partly paid-up Equity Shares of the face value of ₹4- each at an issue price of ₹135 per Equity Share (including a premium of Rs. 131 per Equity Share) for an amount aggregating up to ₹199.84 crores to all the existing equity shareholders of the company on a rights basis. The record date will be announced in due course.

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RBI becomes more vigilant about Mauritius based investments into NBFCs
Thu, Feb 18, 2021 10:44 AM

RBI becomes more vigilant about Mauritius based investments into NBFCs

Mauritius received a fresh blow coming from the RBI in this month. Last week the banking regulator came out with a diktat saying no entity coming from a non-Financial Action Task Force (FATF) jurisdiction can hold more than 20% of voting rights in a non-banking financial company (NBFC). This would directly impact the investments coming from Mauritius.

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NPCI upgrading IT systems across platforms
Thu, Feb 18, 2021 10:36 AM

NPCI upgrading IT systems across platforms

The National Payments Corporation of India (NPCI) is anticipating digital transactions across its platform to reach a billion daily and is upgrading its payment channels to deal with the uptick. AePS, IMPS, NACH, and UPI have been identified for the IT systems upgrades. These systems will be revamped to cope with the increased traffic. The process is aimed to be completed by March 2021.

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NALCO share buyback opens on February 25
Thu, Feb 18, 2021 10:22 AM

NALCO share buyback opens on February 25

National Aluminium Company (NALCO) will buy back Rs 749-crore worth of shares, DIPAM Secretary Tuhin Kanta Pandey has said. The offer opens on February 25 and closes on March 10. The government holds 51.50% stake in the company and would tender shares proportionate to its holding. The company reported a consolidated profit of Rs 239.71 crore for the quarter ended December 31, 2020.

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