TRADE MARKS
Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thriller
Adani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
Beyond Kotak, is there a China connection to the Hindenburg exposé on Adani?
Social media is rife with claims that the wife of Mark Elliot Kingdon, the man on whom the spotlight fell following Sebi's revelations, has had ties with the Chinese Communist Party and thus China could be another actor in the Hindenburg saga.
Govt makes ISI mark mandatory for stainless steel, aluminium utensils
The government has mandated national quality standards for stainless steel and aluminium kitchen utensils, requiring the ISI mark to ensure product safety and quality. This order, issued by the DPIIT and effective from March 14, 2024, bans the manufacture, sale, or distribution of non-compliant utensils. Non-adherence will incur penalties.
Government makes ISI mark mandatory for stainless steel, aluminium utensils
According to BIS, the order prohibits the manufacture, import, sale, distribution, storage, or exhibition for sale of any stainless steel or aluminium utensils that do not bear the BIS standard mark. Non-compliance with the order will attract penalties, underscoring the government's commitment to consumer safety and product integrity, it said in a statement.
Traders’ Corner: An agro commodity stock for possible 7% long trade; multiproduct bet for 6% swing trade
More sectors are joining the bullish movement of broader markets
Crypto Price Today: Bitcoin slips below psychological $60,000 mark. Etherium, Solana, others down by up to 9%. Here’s why
Bitcoin plunges below $60,000, causing panic among investors as altcoins follow suit. Mt. Gox repayment, government sell-offs, and a massive whale dump contribute to the market chaos
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Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’
Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.
Pakistani stocks cross 80,000-mark for the first time, end lower
The index closed up by 0.08% after reaching an intraday record high of 80,059 points, marking a 1.6% increase. The market rally was primarily driven by the annual budget, which bolstered the likelihood of a new bailout from the International Monetary Fund, as anticipated by investors.
FPIs’ G-Sec purchases cross $10-billion mark
Nine months after JP Morgan announced the inclusion of Indian government debt in its emerging markets index, foreign portfolio investors have increased their ownership of sovereign bonds by over $10 billion. The influx of funds is expected to continue as India's index weightage grows.
India's exports grew 1.1%, but trade momentum to continue: CRISIL
India's merchandise exports rose by 9.1% to USD 38.1 billion in May compared to last year, with a modest 1.1% increase from April, driven by both oil and non-oil sectors. Imports surged by 7.7% to USD 61.2 billion, mainly due to oil and core imports, widening the trade deficit to USD 23.8 billion.
Indices touch new peaks, Sensex tops 77,000 mark
India's Nifty and Sensex hit fresh highs, with Sensex closing above 77,000 for the first time after a bullish wave since June 4 election results.
Sensex vs Silver vs Bitcoin: Who will hit the 1 lakh mark first?
Silver appears closest to achieving the 1 lakh milestone, with experts suggesting it could outpace both the Sensex and Bitcoin. Despite retracing from its lifetime high, MCX Silver maintains a 19% YTD gain. Meanwhile, the Sensex has gained 6.3% in 2024, while Bitcoin surged by 61%.
Cryptocurrency prices on June 13: Bitcoin trades flat after hitting $70K mark post Fed outcome
Bitcoin reached $70,000 but later dipped to $67,600 after Federal Reserve's hawkish stance post FOMC announcement and lower-than-expected CPI data release.
Can Bitcoin reach $100,000 mark in 2024? Here's what experts say
Bitcoin, which has been synonymous with volatility, has experienced dramatic price movements since its inception in 2009, reaching highs of $73,000 by 2024. Amid the current downward trend, experts expect a bullish surge by the year-end.
Mutual fund SIPs cross Rs 20,000 crore mark for second month
May saw a record-breaking surge in MF SIP contributions, hitting Rs 20,904.37 crore, a 3% rise from April and a significant increase from a year ago. MF SIP accounts reached 8,75,89,485, while MF folios hit 18,59,68,222. 49,74,400 new SIPs were added, with SIP AUM reaching Rs 11,52,801 crore.
Sensex may hit 1 lakh before 5 years, thinner Modi 3.0 doesn't mean end of bull run: Mark Mobius
There is an old saying, the best time to buy is when others are selling at a very unhappy period. And the best time to sell is when everyone is greedily buying. So, you have got to keep those principles in mind. Otherwise, you will get caught up with the herd.
Nvidia overtakes Apple as world's No. 2 most valuable company
Nvidia's stock hits record high, surpassing Apple to become second most valuable company at $3 trillion. Silicon Valley chipmaker to split stock ten-for-one on June 7. Microsoft remains the world's most valued company with market value at $3.15 trillion.
Sinking profits bring reality check to AI-driven rally in emerging market stocks
Unilever Plc’s Indian unit reported a 5.5% drop in net income for the first quarter, missing analyst estimates. Behind the decline was sluggish rural demand combined with high net-worth urban consumers pivoting to other brands. Similar trends can be seen elsewhere, with Chilean retailer Cencosud SA, restaurant chain operator Yum China Holdings Inc. and Swiss-South African jeweler Compagnie Financiere Richemont SA all delivering weaker-than-expected results.
How to navigate IP challenges in the rise of social media
While social media has created immense opportunities for engagement and expression, it has also raised a myriad of legal challenges, particularly concerning intellectual property (IP) rights including issues around content ownership, digital rights management, deep fakes etc.
Sebi tweaks framework for clearing corps on liquid assets; issues prudential norms for exposure
May 30 (PTI) Capital markets regulator Sebi has tweaked guidelines for accepting liquid assets as collateral by clearing corporations (CCs) and put in place prudential norms for exposure of such entities in a bid to strengthen the risk management framework.
Mark Mobius turns bullish on Chinese stocks amid recent rally
Mark Mobius turned bullish on Chinese equities, citing confidence in the recent rebound after advising investors to avoid them in April.
India has potential to capture a large share of global defense market: Mark Matthews
I think there is scope for further expansion if the earnings grow and if the economy grows, then the earnings will grow. If the economy grows by let us say 6-7-8% per year, then I think it is reasonable to assume earnings grow by 12-13-14% per year and if you compound that a couple of years, then actually India is not expensive.
Crypto market rebounds despite Mt. Gox drama; Bitcoin holds above $68k mark
After initially dropping to the $67,200 level following news of Mt. Gox transferring Bitcoin, the world's largest cryptocurrency by value, rebounded and surged nearly 1% to reach $68,852 in Wednesday's trade.ok
Why Mark Mobius will be looking at largecaps going forward
Mark Mobius discusses the potential of largecaps in India, particularly in the infrastructure and power sectors. He highlights NHPC's entry into hydropower and emphasizes global growth opportunities, while addressing the valuations of public sector entities. Mobius suggests one should keep some cash on the side in the event of a correction where you can buy at much lower prices.
Adani group m-cap regains $200 bn-mark as company rebuts coal invoicing allegations
While Adani group denied all allegations, the news report was cited by opposition leaders including former Congress president Rahul Gandhi to demand a probe by a joint parliamentary committee into the alleged wrongdoing.
Lucky draw for MP voters, but first the mark: Election officials rope in traders’ associations to help boost turnout
Madhya Pradesh's election officials have partnered with civil society and trade associations to increase voter turnout. District electoral officers have held lucky draws for products such as t-shirts, caps, and pens to make the election process more interesting. In Bhopal, diamond rings are being drawn, while in Ratlam, jewelry associations are offering discounts.
India-UAE CEPA celebrates two years marked by robust growth in bilateral trade
Implemented on 1 May 2022, the UAE-India CEPA offers numerous trade benefits, including the elimination and reduction of tariffs, an open trade environment, and enhanced market access for service providers across various sectors. It also addresses technical barriers and provides access to government procurement opportunities.
The Meta-morphosis of Mark Zuckerberg
Mark Zuckerberg, the founder of Meta, has become a more democratized figure in Silicon Valley, as evidenced by his shift from a traditional daily uniform to a more relaxed and experimentative style. This change began in 2021 when Facebook became Meta, and Zuckerberg's first avatar was dressed in a T-shirt and jeans. His transformation began with the introduction of the platform Threads, which allowed him to experiment with different outfits and styles.
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