LATEST FINANCIAL NEWS

 

 

 California Governor Signs Executive Order on Crypto

California's Governor Gavin Newsom issues executive order on blockchain and crypto. According to the governor, this will help create a comprehensive and harmonized framework for Web3 technology to thrive. The order will also define how blockchain technology can be deployed for state and public institutions and build research and workforce development pathways.

 

 

LIC IPO policyholders quota on Day 3 subscribed 3.19 times

The Life Insurance Corporation of India’s initial public offering (IPO) has subscribed 1.04 times, receiving bids for 16.81 crore equity shares against the offered size of 16.2 crore equity shares on Day 3. The policyholder’s portion has been subscribed 3.19 times and staff 2.28 times. The retail investors subscribed 0.97 times, while QIBs bid for 0.40 times shares of their allotted quota.

 

 

JGB yields witness a spike

Japanese government bond (JGB) yields witnessed a spike on Friday. The aforementioned spike was observed following a sell-off in U.S. Treasuries overnight. After traders put under the microscope the Fed's strength to tackle the recession that is hovering over the economy, the US treasury witnessed an overnight rise.

 

 

33% Of Britain's Consumers Have Used Crypto

In the United Kingdom, crypto usage is on the rise, with 33 percent of the country's customer clients having previously invested in such assets. This is a 4% up from six months ago and comes in second in Europe behind the Netherlands' astonishing 47 percent. A study suggests that 61 percent of Britons who own cryptocurrencies plan to increase their holdings next year.

 

 

TVS Motor plunge after reporting poor Q4 performance

During the early trade on Friday, the shares of TVS Motor Company plunged owing to the poor performance in the last quarter of the previous financial year. Its consolidated net profit fell by 14 per cent to Rs 275 crore for the fourth quarter ended March 2022, due to low sales. The company had reported a consolidated net profit of Rs 319 crore in the March quarter of the 2020-21 fiscal.

 

 

Gold prices increase marginally by 0.11% today; silver breaches Rs 63,000

Gold prices opposed global trends and inched higher marginally on Friday. Gold futures on MCX surged by 0.11% or Rs 55 up at Rs 50,954 per 10 gram. Similarly, silver futures were trading higher by 0.13% or Rs 84 at Rs 62,420 per kg. In the spot market, the highest purity gold was available at Rs 51,787 per 10 grams while silver was priced at Rs 63,331 per kg.

 

 

Germany's Ifo institute believes that ECB must raise key rates swiftly

Germany's Ifo institute is of the opinion that the European Central Bank must act swiftly and hike interest rates following suit of the United States. The aforementioned action would aid the bank to fend off the woes of rising inflation in the euro zone. It is no secret that economies all over the world are suffering at the hands of inflation.

 

 

L&T Infotech and Mindtree could merge soon

Larsen & Toubro Infotech (LTI) and Mindtree are two software units that are under the control of the Mumbai-based engineering firm L&T. The aforementioned firms are set on a course to merge. This merger would aid the resultant entity to tackle the rising demand from businesses that are undergoing a phase of digitization.

 

 

CATL scanning sites in US for EV battery production

The largest battery manufacturer in the world, Contemporary Amperex Technology Co is almost at the last stage of screening sites in the United States. As it plans to produce electric vehicle batteries in the country. This is an investment that would record the Chinese company's first production in the second-biggest car market in the world. CATL will initially offer BMW AG and Ford Motor Co.

 

 

Ethereum has burned almost $6.3 billion

After deploying Ethereum Improvement Proposal (EIP) 1559 via the London hard fork on August 5, about $6.3 billion worth of Ethereum has been burnt. Since August, an average of 355 ETH burned each hour, and 4,900 ETH burned per day. Analyst says that if burns exceed net issuance than ETH will become a deflationary currency.

 

 

A huge chunk of Investors' wealth was washed away

Domestic stock investors saw more than Rs 5 lakh crore of their wealth being washed away in just the initial 15 minutes of trade today. The aforementioned wealth loss was caused owing to a massive sell-off sentiment across the board. The market cap of the BSE slipped down to Rs 254.83 lakh crores from Rs 259.64 lakh crores today.

 

 

Adani Transmission plunges on Friday as FX movement pushes Q4 PAT down

Adani Transmission stock plunged during Friday's early deals as the discom posted a decline of 7.6% in its consolidated net profit to Rs 237 crore in Q4FY22 as against Rs 256.55 crore in Q4FY21. The Adani group Company's total income, however, improved to Rs 3,165.35 crore in the quarter from Rs 2,875.60 crore in the year-ago period.

 

 

Phoenix Mills acquires 100% stake in Classic Mall Development Company

India’s leading mixed-use real estate developer, The Phoenix Mills Ltd has declared that it has raised another 50% equity stake in Classic Mall Development Company Limited. Earlier, PML held 50% of CMDCL, and another 50% was owned by Crest Ventures and Escort Developers. However, CMDCL is now a fully-owned subsidiary of PML effective today, after paying ₹9,360 million.

 

 

Asian shares slump to 7-week low

It was observed that Asian shares slumped to their seven-week low today. Despite a fall in the share prices of Asian shares, the greenback dollar did not budge as investors all over the world brushed past riskier assets owing to fears that spiked U.S. interest rates and China's zero-COVID policy could adversely affect growth.

 

 

Indian rupee plunges 38 paise to 76.73 against greenback on Friday

The rupee plunged 38 paise to 76.73 against the US dollar during morning deals on Friday. The local currency was weighed down by unabated foreign fund outflows and firm crude oil prices. At the interbank foreign exchange, the rupee started at 76.61 against the greenback. The Indian currency then lost further ground to quote at 76.73, registering a decline of 29 paise from the previous close.

 

05/05/22

 

 Oracle Fin Serv Standalone Net Sales at Rs 1,143.17 crore in Q4

Oracle Financial Services Software reported Net Sales at Rs 1,143.17 crore in March 2022 up 27.48% from Rs. 896.75 crore in March 2021.Quarterly Net Profit at Rs. 540.05 crore in March 2022 up 30.7% from Rs. 413.21 crore in March 2021.EBITDA stands at Rs. 678.22 crore in March 2022 up 21.87% from Rs. 556.51 crore in March 2021. Oracle Fin Serv EPS has increased to Rs. 62.62 in March 2022.

 

IWML Standalone Net Sales at Rs 14.06 crore in Q4

IFL Wealth Management Limited reported Net Sales at Rs 14.06 crore in March 2022 down 74.35% from Rs. 54.80 crore in March 2021. Quarterly Net Profit at Rs. 238.12 crore in March 2022 down 7.8% from Rs. 258.27 crore in March 2021.EBITDA stands at Rs. 284.85 crore in March 2022 up 0.33% from Rs. 283.91 crore in March 2021. IWML EPS has decreased to Rs. 26.85 in March 2022.

 

 

Laxmi Organic Standalone Net Sales at Rs 906.23 crore in Q4

Laxmi Organic Industries reported Net Sales at Rs 906.23 crore in March 2022 up 93.87% from Rs. 467.44 crore in March 2021. Quarterly Net Profit at Rs. 41.04 crore in March 2022 up 31.42% from Rs. 31.23 crore in March 2021.EBITDA stands at Rs. 60.87 crore in March 2022 up 3.26% from Rs. 58.95 crore in March 2021. Its EPS has increased to Rs. 1.56 in March 2022.

 

 

What should investors do with Adani Green shares❓

Adani Green shares have offered a sharp upside rally to climb to a high of Rs 2,050 in Jan 2022. Thereafter, the renewable energy player's stock moved in a consolidation range between Rs 1,700 and Rs 2,000 and witnessed an upside movement till Rs 3,050. Accordingly, market analysts recommend initiating a fresh long position in this stock at around Rs 2,400.

 

 

Occidental Petroleum shares gets further acquisition of Berkshire

Berkshire Hathaway Inc owned by Warren Buffett has purchased a further 5.9 million Occidental Petroleum Corp shares. This acquisition led to boosting its stake in the oil company to about 15.2%. The purchases were made are worth approximately $336 million. Berkshire holds about 142.3 million Occidental shares worth approximately $8.8 billion, with this buying.

 

 

This multibagger Tata stock turns ₹1 lakh to 1.80 lakh in 6 months

The shares of Tata Teleservices (Maharashtra) Ltd or TTML has risen from ₹2.50 to ₹126 apiece levels in last two years, logging nearly 4900 % rise in this time. This multibagger penny stock has zoomed from ₹67 to ₹126 levels, surging to the tune of near 80% in last 6 months. If an investor had invested ₹1 lakh in this stock 6 months ago, its ₹1 lakh would have turned to ₹1.80 lakh today.

 

 

LIC IPO's grey market premium stands at Rs 60 today

LIC IPO, the country's biggest-ever public offer, is witnessing a healthy response from investors on Day 2 despite volatile markets. The insurance behemoth has finalised the price band at ₹902-949 per equity share for the maiden issue. Stock market analysts maintain a positive stance on the IPO. In the grey market, LIC IPO is commanding a GMP or grey market premium of ₹60 per share today.

 

 

KE Holdings says it would list shares in Hong Kong

KE Holdings Inc, a Chinese property platform, said that it would list its shares in Hong Kong without raising any capital. The company that is listed in New York and operates the online property platform Beike, said that it would lunch its shares on the Hong Kong exchange on May 11. The news comes after the SEC came up with a list of companies that could be delisted from the American exchange.

 

 

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Tata Consumer plunges on Thursday despite PAT surging 222% YoY in Q4

Tata Consumer Products' shares declined during Thursday's early deals a day after it declared a 222% YoY growth in its consolidated profit after tax (PAT) at Rs 239 crore. However, on a sequential basis, the profit plunged 17.6%. The earnings were largely in line with estimates. Following this, Morgan Stanley has kept an overweight rating with a target of Rs 886 per share on Tata Consumer.

 

 

After Powell downplays bigger rate hike by Fed, Asian markets rise

On Thursday, the Asian stock market edged higher following the footsteps of Wall Street after the Federal Reserve chairman moderated the likelihood of bigger rate hikes. The Shanghai Composite Index gained 1.1% and Hong Kong’s Hang Seng rose 0.7%. Sydney’s S&P/ASX 200 advanced 0.9%. Benchmark indexes in New Zealand and Taiwan also gained, while Singapore was about flat.

 

 

Check out what should investors do with Zomato stock

Zomato shares have moved sideways in the range of Rs 76-89 odd levels for 3 months from February 2022 onwards. The stock experienced selling pressure as it breached the lower level of Rs 76 and witnessed a sharp selloff to Rs 64.5. Analysts recommend a sell on the rise strategy with a stop loss of Rs 89 and a target at around Rs 50-40 in the next 2-3 months for Zomato.

 

 

Lawmakers slam SEC for focusing on crypto enforcement

The U.S. securities watchdog was criticized by several lawmakers and commissioner with the U.S. Securities and Exchange Commission for focusing on crypto enforcement. SEC commissioner Hester Peirce tweeted, “The SEC is a regulatory agency with an enforcement division, not an enforcement agency. Why are we leading with enforcement in crypto?”

 

 

U.S. broadband providers quits challenge of 'internet neutrality' law

The legal challenge of The U.S. broadband industry to California's landmark net neutrality law, which is looking to protect the open internet. Wherein, the 9th U.S. Circuit Court of Appeals had the previous month denied reconsidering a ruling upholding the 2018 state law. This law was to bar internet service providers from blocking or cutting traffic or providing paid fast lanes.

 

04/05/22

MORE NEW UPDATES

 

Starbucks hints at launching Web 3 Platform along with NFT collections

The popular coffee chain, Starbucks, intends to roll out a series of non-fungible token (NFT) collections. Along with the NFT collection, the coffee chain hint at a “Starbucks Digital Community Web3 platform” possibly tied to mobile payments in-store. The company’s CEO Howard Schultz first announced its plan to ape into NFTs in a company town hall meeting in early April.

 

 

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S&P 500 and Nasdaq falls ahead of Fed decision

After unsatisfactory economic data, the US stocks fell as investors anticipates the biggest Federal Reserve hike since 2000 to tackle inflation. The S&P 500 and the Nasdaq fell on Wednesday as growth stocks were the main draggers while banks gained. Out of 11 major S&P sectors, six advanced in early trading led by energy stocks. Treasury 10-year yields traded near 3%.

 

 

LIC IPO garnered 67 per cent subscription on day

The Life Insurance Corporation of India’s initial public offering (IPO) garnered a 67 per cent subscription on day one of the opening of the offer. Strong demand could be seen from policyholders, employees and retail investors. The LIC policyholders lapped up 1.99 times their portion of the offer. Against the offered 16,20,78,067 equity shares, a total of 10,86,45,360 shares received the bids.

 

 

Diligent Industries PAT at Rs. 50.18 lakhs in Q4

Diligent Industries has posted total income of Rs. 31.6839 crores during the period ended March 31, 2022 as compared to Rs.11.5968 crores during the period ended March 31, 2021.The company has posted net profit / (loss) of Rs.0.5018 crores for the period ended March 31, 2022 as against net profit / (loss) of Rs.-0.2419 crores for the period ended March 31, 2021.

 

 

Havells India Net profit zooms 16% in Q4

Havells India Ltd, a consumer electrical goods maker, on Wednesday reported a 16.01 per cent increase in its consolidated net profit to Rs 352.48 crore for the fourth quarter ended in March 2022. The company had posted a consolidated net profit of Rs 303.83 crore in the January-March quarter a year ago. Its revenue from operations was up 32.55 per cent to Rs 4,426.26 crore.

 

 

Hawaii is the latest state to approve blockchain and crypto task force

Hawaii is the latest state to approve and establishes a blockchain and crypto task force. It is the latest state to bring a new bill called “A Bill for an Act Related to Cryptocurrency”. The task force will review the data from other states which would also include planning on the usage of the technology in public and private sectors.

 

 

ABB India net surge over 2-fold in Q4

ABB India on Wednesday reported over two-fold jump in its net profit to Rs 370 crore in the March quarter compared to the year-ago period mainly on the back of higher revenues. The net profit of the company was Rs 151 crore in the quarter that ended on March 31, 2021. Total revenue surged to Rs 1,968 crore in the quarter from Rs 1,629 crore in the same period a year ago.

 

 

Amberdata raises $30 million in Series B funding

Provider of digital asset data to financial institutions, Amberdata, has secured $30 million in Series B funding, with Coinbase (COIN) and Nexo among the investors. Knollwood Investment Company and also included contributions from Susquehanna International Group, Nasdaq Ventures, NAB Ventures and Chicago Trading Company also participated in the round.

 

 

Google appoints Archana Gulati as new public policy head in India

Archana Gulati has been appointed as the new public policy head in India by Alphabet Inc's Google. Gulati, before this, worked at Prime Minister Narendra Modi's federal think-tank and the country's antitrust watchdog. He worked until March 2021 as a joint secretary for digital communications at Modi's federal think tank, Niti Aayog. She also worked at CCI between 2014 and 2016.

 

 

Canadian dollar edges up versus the greenback on soaring oil prices

The Canadian dollar gained 0.1% versus the greenback on Wednesday on soaring oil prices and record-high exports and imports. However, the surge in the currency was covered ahead of the Federal Reserve interest rate decision. The loonie was up 0.1% at 1.2826 to the greenback, or 77.97 U.S. cents, after trading in a range of 1.2805 to 1.2847. U.S. crude prices surged 4.3% to $106.84 a barrel.

 

 

All largest cryptocurrencies were up during morning trade on Wednesday

During the morning trade on Wednesday, all the largest cryptocurrencies were up with Cardano seeing the biggest change, climbing 7.24% to 82 cents. Uniswap spiked 5.65% to $7.12, while Litecoin zoomed 3.04% to $101.02. Bitcoin and Polkadot surged 2.96% to $38,746.71 and 2.95% to $15.08, respectively. Dogecoin and Ripple surged 1.78% to 13 cents and 1.73% to 61 cents, respectively.

 

 

Ford shares plunge as April sales decline

Shares of Ford Motor Co. plunged in the morning trading Wednesday after the automaker reported a double-digit drop in auto sales for April, as a rise in SUV and electrified sales wasn't enough to offset a big drop in trucks. Total U.S. sales declined10.5% to 176,965 vehicles, with trucks dropped 17.8% to 79,768, SUVs up 2.7% to 92,809 and electrified up 50.2% to 16,779.

 

 

Tata Consumer Products Profit jumps three-fold to Rs 239 cr in Q4

Tata Consumer Products Ltd on May 4 declared a 222 per cent rise in its consolidated profit after tax (PAT) of Rs 239 crore for the quarter ended Mach 22, as compared to a PAT of Rs 74.35 crore recorded during the corresponding quarter last year. On a sequential basis, the profit fell 17.6 per cent from Rs 290 crore achieved during the previous quarter of the current financial year.

 

 

TCI Developers posts consolidated net loss of Rs 0.06 crore in Q4

The net loss of TCI Developers was reported to Rs 0.06 crore in the quarter ended March 2022 as against a net profit of Rs 0.21 crore during the previous quarter ended March 2021. Sales declined 7.56% to Rs 2.69 crore in the quarter ended March 2022 as against Rs 2.91 crore during the previous quarter ended March 2021. Net profit declined 41.53% to Rs 1.07 crore in the year ended March 2022.

 

LATEST & NEW UPDATES

 

Mining rewards for Ethereum Soars to a Single Day All-Time High of 95K ETH

Miners' earnings for Ethereum have reached an all-time high. According to data, the income of miners reached 95,182 ETH this month. Handling fees accounted for 85.9% of the total revenue. The network's high activity has resulted in some astronomical gas fees. For a single block, one lucky miner received 170 ETH, worth around $540,000 at the time.

 

DCGI's approval for phase 2/3 Covaxin booster awaited by Bharat Biotech

The approval from India’s drug regulator, DCGI has been sorted by Bharat Biotech to run a phase 2/3 study of its COVID vaccine Covaxin as a booster dose among those who are aged between 2 to 18 years. Currently, a precaution dose of Covaxin and Covishield is been supervised for 18+ citizen who has completed nine months after the second dose. The study will be run in 6 region including AIIMS Delhi

 

US stock indices surge on earnings reports ahead of Fed decision

On Wednesday, the U.S. stock indices surged backed by positive earnings updates from companies such as Starbucks and Advanced Micro Devices and expectations of the biggest interest rate hike by the Federal Reserve since May 2000. At 6:48 a.m. ET, Dow e-minis were up 119 points, or 0.36%, S&P 500 e-minis were up 16.75 points, or 0.4%, and Nasdaq 100 e-minis were up 40.25 points, or 0.31%.

 

Uzbekistan Legalises Solar-Powered Crypto Mining

According to a recent decree, domestic and foreign businesses running crypto operations are exempted from income tax in Uzbekistan. The country will also allow miners to use solar power to run their operations. On the other hand, mining businesses can also be connected to the power grid for double the standard price, and additional surcharges may be imposed during peak consumption periods.

 

Entire-year's COVID vaccine sales view kept unaltered by Moderna at $21 bn

Moderna kept the full-year sales forecast for its COVID-19 vaccine unaltered at $21 billion. The vaccine maker is eyeing that COVID "market dynamics" will result in slightly higher sales in the second half of 2022 than in the first half. Even Pfizer on Tuesday reported that there was minimal chance of exceeding the full-year forecast for COVID vaccine sales.

 

Investors lost Rs 6.1 lakh cr of wealth after RBI's surprise repo rate hike

After the Reserve Bank of India surprised all by increasing the repo rate and the cash reserve ratio to curb inflation and absorb the excess liquidity, the investors doubled their losses. BSE market capitalisation fell to Rs 259.73 lakh crore against Rs 265.88 lakh crore in the previous session as a result the investors lost Rs 6.1 lakh crore of wealth in a single day.

 

Novel annuity plan Guaranteed Pension Plan Flexy set out by ICICI Pru

ICICI Pru Guaranteed Pension Plan Flexi has been introduced by ICICI Prudential Life Insurance as a regular premium payment annuity product. This plan lets customers systematically save and build retirement savings over the long term. This is made for the need of customers' regular contributions towards creating a savings pool and receiving a life-long guaranteed income.

 

Simon Denny named as head of Johannesburg office by Goldman Sachs

Simon Denny has been named as the head of Goldman Sachs' Johannesburg office and chief executive officer of Goldman Sachs International Bank Johannesburg branch. He joined the U.S. banking giant in September from Barclays Plc. Prior to this, he served as the head of Banking Africa, running investment banking at Goldman's South African unit.

 

Wizz Air loses $38.60 million legal battle against TAROM rescue aid

Wizz Air, on Wednesday, reported that it has lost its court challenge against 36.66 million euros ($38.60 million) of rescue aid Romanian carrier TAROM received during the COVID-19 pandemic. The aid comprised of a loan to finance TAROM's liquidity needs repayable after six months. The European commission approved the aid in the same month. Wizz Air tried to overturn the commission's decision.

 

Traceable AI cloaked USD 60 million led by Institutional Venture Partners

Traceable AI, which is an IT security startup has highlighted that it raised USD 60 million (₹460 crores) in an investment round conducted by Institutional Venture Partners. This fresh capital values Traceable AI at over USD 450 million. Tiger Global Management and the current investors Unusual Ventures and BIG Labs also participated in this huge funding round.

 

Solana Devs Reveal Plans To Boost The Network’s Resiliency

Following an outage on the Solan network a few days ago, the protocol's core developers have released a set of new resiliency mechanisms. According to Solana Labs, their developers are actively working on a QUIC-based interoperability protocol. The new interoperability protocol will give the Solana mainnet more flexibility in adapting and optimizing data input.

 

Lyft may lose more than a quarter of its market value on Wednesday

Lyft might lose more than a quarter of its market value on Wednesday. This is expected as the ride-hailing player’s Q2 outlook disappointed Wall Street. Investors may go ahead dumping the growth stock at the first hint of trouble. The Company's stock plunged 27% to $22.60 in premarket trading. The stock price tanked 71% from the record-high of $78.29 touched in March 2019.

 

Retailers look for price protection as inflation goes disturbed

Few retailers have begun to trim or cap the price of hundreds of products as consumers pay more for anything from coffee to ketchup. Also, they are challenging for shoppers and set themselves up to do battle in negotiations with many packaged food makers. The euro zone inflation for food, alcohol, and tobacco has incremented by 6.4% in April in comparison with the last year.

 

CVS Health zooms on Wednesday as profit and sales beat expectations

Drugstore and health care service player CVS Health Corp zoomed during the premarket trading Wednesday. This was noticed after the company announced its first-quarter profit and revenue that increased above expectations. the firm even raised its full-year earnings outlook. Net income rose to $2.31 billion, or $1.74 a share, from $2.22 billion, or $1.68 a share, in the year-ago period.

 

Ripple price analysis

Today's Ripple price analysis is bearish. Yesterday, XRP/USD hit a new lower high of $0.60. Xrp continues to see heavy resistance around $0.60. Ripple could retest the lows near $0.50 if the $0.60 level continues to operate as a strong resistance point. To show that the bearish trend is reversing, we'll need to witness a robust rise above $0.60.

 

Solana Devs Reveal Plans To Boost The Network’s Resiliency

Following an outage on the Solan network a few days ago, the protocol's core developers have released a set of new resiliency mechanisms. According to Solana Labs, their developers are actively working on a QUIC-based interoperability protocol. The new interoperability protocol will give the Solana mainnet more flexibility in adapting and optimizing data input.

 

Lyft may lose more than a quarter of its market value on Wednesday

Lyft might lose more than a quarter of its market value on Wednesday. This is expected as the ride-hailing player’s Q2 outlook disappointed Wall Street. Investors may go ahead dumping the growth stock at the first hint of trouble. The Company's stock plunged 27% to $22.60 in premarket trading. The stock price tanked 71% from the record-high of $78.29 touched in March 2019.

 

Retailers look for price protection as inflation goes disturbed

Few retailers have begun to trim or cap the price of hundreds of products as consumers pay more for anything from coffee to ketchup. Also, they are challenging for shoppers and set themselves up to do battle in negotiations with many packaged food makers. The euro zone inflation for food, alcohol, and tobacco has incremented by 6.4% in April in comparison with the last year.

 

CVS Health zooms on Wednesday as profit and sales beat expectations

Drugstore and health care service player CVS Health Corp zoomed during the premarket trading Wednesday. This was noticed after the company announced its first-quarter profit and revenue that increased above expectations. the firm even raised its full-year earnings outlook. Net income rose to $2.31 billion, or $1.74 a share, from $2.22 billion, or $1.68 a share, in the year-ago period.

 

Last day to apply for PLI for steel manufacturing extended till May 31

The last day to submit applications under the production-linked incentive scheme for specialty steel has been extended by the government till May 31. However, the deadline for the same has been extended for the second time. According to the steel ministry reports, the application window will be kept open up till May 31, 2022. The govt is working on a same incentive on the production of steel.

 

Mirae Asset MF to utilize Bloomberg's buy-side solutions

Mirae Asset Investment will utilise Bloomberg’s buy-side solutions to boost enterprise-wide digital transformation. The fund house will adopt Bloomberg’s Asset and Investment Manager (AIM) and Bloomberg Vault across its investment workflows. These would include fund management, trading, operations, and compliance. They would allow firms to build scale and navigate the market landscape.

 

JPMorgan expects scope for upside in these 2 EVs stocks

The penetration levels in electric vehicles continue to increase, thus the Indian EV battery industry is poised to take off. Further, JPMorgan sees the auto segment of India to witness an upgraded shift this decade, with new investments of not less than $8-10 billion in Lithium-ion cell manufacturing. Expecting to lead the acid battery demand to improve by a low-mid single-digit CAGR.

 

Liechtenstein's LGT Bank to Offer Crypto investments

LGT Bank, a financial institution owned by the royal House of Liechtenstein, has begun offering cryptocurrency services. LGT Bank is part of the world's largest family-owned banking group. The bank is offering crypto custody & brokerage services to private clients in Switzerland & Liechtenstein. LGT will start by providing Bitcoin & Ethereum investment services & add more coins in the future.

 

MotoGP bolster strategic partnership with Tata Communication

Tata Communications, on May 04, renewed and strengthened its exclusive multi-year strategic collaboration with Dorna Sports, the exclusive commercial and television rights holder of the FIM MotoGP World Championship. The move would bring the spectacle of MotoGP’s close racing and incredible competition to nearly half a billion homes worldwide.

 

Finance employees' wages of Britain jumped 31% since pandemic began

U.K.'s financial services workers are happy regarding their pay increase at double the rate of the rest of the world. However, this is expanding the difference between the rich and the poor, when the country is suffering the biggest condense in living standards on record. The average monthly pay in finance calculated was up by 31% in Feb, which is above the 14% rate prevailing across all segments.

 

LIC IPO subscribed 48% on Day 1, policyholders' portion bidded 1.61 times

LIC IPO has been subscribed 48 per cent on Day 1 of bidding (so far). The LIC policyholders remained at the forefront during the three-day share sell of the insurer's IPO as they have subscribed 1.61 times the portion reserved for them. The employees have placed bids for 84 per cent of their reserved portion, while the retail investors portion has been subscribed 51 per cent.

 

Collective export target from India doubled by Amazon to $20 bn by 2025

Amazon, which is an e-commerce behemoth projects cumulative exports from its platform in India to tap USD 20 billion by 2025. Earlier in January 2020, the company had poised a goal to elevate its export worth USD 10 billion by 2025. The govt has also kept an optimistic target of gaining USD 400 billion in annual merchandise exports and for the first time ever, India has marked this target.

 

Sensex PLUNGES 1307 points; Nifty ends below 16700; Nifty Auto (🔻 2.5%)

Domestic benchmark indices CLOSED on a negative note on May 04 as RBI stuns markets with a rate hike. 📊 At 3:30 PM, the Sensex tanked by 1,306.96 points or 2.29% at 55,669.03, and the Nifty was down 391.50 points or 2.29% at 16,677.60. 👉All the sectoral indices plunged into the red with the auto, bank, FMCG, power, realty, healthcare, and metal indices tanking between 1-3%.

 

Volkswagen expects better chip supplies in other half pushing production

An expected shortage of semiconductors has been seen by Volkswagen AG to relax during the second half of the year. The carmaker also expects to contribute to a surge in production, offsetting months of cutbacks. Although following a production decline of 12% during the initial three months, VW confirmed a prediction that deliveries will increase by as much as 10% this year.

 

 

Kotak Mahindra's net profit jumps 65% to ₹2,767 crore in Q4FY22

Kotak Mahindra Bank announced that its net profit surged by 65% YoY to ₹2,767 crore in Q4FY22 in comparison to ₹1,682 crore in Q4FY21, on a standalone basis. The private lender suggested that it had reversed the COVID-19 provision of ₹453 crore during the quarter. Its net interest income (NII) grew by 18% to ₹4,521 crore in Q4FY22 from ₹3,843 crore in Q4FY21.

 

Virginia county looks into crypto yield farming

Fairfax County, Virginia, has already invested a portion of its pension funds in crypto and blockchain, but it's considering going much further with a larger yield farming investment. According to reports, the system is expected to fund two new crypto-focused hedge fund managers in the next three weeks.

 

EU reports recommends revision on DeFi regulation

The European Commission released a report titled "European Financial Stability and Integration Review 2022". The paper demonstrates how DeFi can assist minimize financial audit expenses while also providing significant prospects for cross-border financial integration. The EUCO distinguished DeFi from traditional finance and noted that the current regulatory structure would require a revision.

 

Elecon Eng net Sales plunges by 5.82% to Rs 329.74 crore in March 2022

Elecon Engineering Company's consolidated net sales declined by 5.82% to Rs 329.74 crore in March 2022 as against Rs. 350.13 crore in March 2021. The Company's quarterly net profit, however, zoomed by 46.42% to Rs. 46.30 crore in March 2022 from Rs. 31.63 crore in March 2021. Its EBITDA declined by 2.79% to Rs. 72.41 crore in March 2022 from Rs. 74.49 crore in March 2021.

 

SEC lawsuit could be resolved this year: Ripple CEO

According to Ripple CEO Brad Garlinghouse, the nearly two-year dispute with the US Securities and Exchange Commission (SEC) is nearing a conclusion. Brad stated that the lawsuit might be concluded before the end of the year. He also added that this case would set a significant precedent in the crypto world.

 

RamkrishnaForge's net sales jumps 38.1% YoY to Rs 718.72 cr in March 2022

RamkrishnaForge's consolidated net sales zoomed by 38.1% YoY to Rs 718.72 crore in March 2022 in comparison to Rs. 520.44 crore in March 2021. The Company's quarterly net profit zoomed by 147.66% YoY to Rs. 83.93 crore in March 2022 as against Rs. 33.89 crore in March 2021. Its EBITDA gained 37.79% to Rs. 149.52 crore in March 2022 from Rs. 108.51 crore in March 2021.

 

Rouble witnesses a massive spike vs dollar

The Russian rouble witnessed a spike on Wednesday and perched on a two-year high against the dollar and the euro. After securing the aforementioned spike, the Russian currency retained the aid of hefty capital controls. The movements in the Russian market are highly affected by the fluctuation in its currency's valuation.

 

Bitcoin adoption in El Salvador by citizens stays low

According to a survey by a university in the US, Bitcoin adoption in El Salvador stays low. After receiving their $30 incentive in bitcoin for installing the app, just roughly 20% of survey respondents continued to Chivo bitcoin wallet. Despite legislation requiring businesses to accept bitcoin if they have the requisite technology, just 20% of enterprises reported doing so.

 

Prakash Industries net profit zooms by 63.91% QoQ to Rs 52.73 cr in Q4FY22

Prakash Industries' total income for Q4FY22 surged by 36.41% QoQ to Rs. 1158.96 crores as against Rs. 849.61 crores during the period ended December 31, 2021. The Company's net profit zoomed by 63.91% QoQ to Rs.52.73 crores for the period ended March 31, 2022, in comparison to a net profit of Rs.51.66 crores for the period ended March 31, 2021.

 

Financial Consolidated March 2022 Net Sales announced by M&M

Mahindra & Mahindra Financial Services brought to the notice of the general populace its Consolidated quarterly numbers. The Net Sales of the company stood at Rs 2,865.08 crore in March 2022 after going down 4.52% from Rs. 3,000.56 crore in March 2021. The Quarterly Net Profit of the company stood at Rs. 623.78 crore in March 2022 up 188.33%.

  

Kraken launches NFT platform called Kraken NFT

Today, Kraken announced that the waitlist for its NFT store is now open. Kraken unveiled its non-fungible token marketplace, known as Kraken NFT. The blog detailed that zero user gas fees will be applied when NFTs circulated are within Kraken's own platform, but users will be charged a gas fee when depositing or withdrawing NFTs to and from Kraken.

 

Virtual HQ in the Sandbox Metaverse Established by Dubai Regulator

Dubai has once again displayed its commitment to bolstering the domestic digital asset sector. It has been brought to the notice of the general populace that a local crypto regulator has established a virtual headquarters in The Sandbox metaverse platform. Dubai is becoming a global hub for digital asset transactions.

  

K E C International's net profit plunges 42.34% to Rs 112.04 cr in Q4FY22

K E C International's consolidated net profit plunges 42.34% to Rs 112.04 crore in Q4FY22 in comparison to Rs 194.30 crore during the previous quarter ended March 2021. The Company's sales also declined 1.97% to Rs 4274.78 crore in the quarter ended March 2022 in comparison to Rs 4360.54 crore during the previous quarter ended March 2021.

 

 

India, Canada mull over the expansion of bilateral air service agreement

It has been brought to the notice of the general populace that India and Canada on Wednesday mulled over the expansion of a bilateral air service agreement. The aforementioned agreement will facilitate more flights between the two countries. The Indian side was represented by Union Aviation Minister Jyotiraditya Scindia.

  

Murex raised tie-up with Aurionpro, tagging as a 'Business Partner'

Aurionpro Market Systems Pte Ltd. has declared a modification of its partnership with Murex as ‘Business Partners’. This procurement is marked by the company's strong team of trained resources and efforts to grow Murex practice worldwide. With this collaboration, the firm will be enabled to host the Murex environment set up and in turn, will increase the Learning & Development capabilities.

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03/05/22

Mercedes , BMW’s car-sharing venture to be acquired by Stellantis

Stellantis NV announced on Tuesday that it will buy the Share Now car-sharing venture formed by BMW AG & Mercedes-Benz AG. The acquisition will strengthen new streams of revenue as the automaker shifts to electric vehicles. To get younger buyers to try their brands & keep up with changing mobility needs in cities, BMW & Mercedes started car sharing in 2011 & 2008 respectively.

 

LIC anchor book gets funding from Large-cap, mid-cap, thematic Mutual Funds

The LIC anchor book closed on May 2 raising around 59.2 million shares on offer with 42.1 million units kept for domestic mutual funds. Mutual funds poured around ₹4,000 cr for the same and further wiped off over ₹5,000 cr before its public issue on May 4. The foreign portfolio investors, pension funds, corporates, as well as other insurers participated in the anchor investment of LIC.

 

New York luxury gym club to adopt crypto as a payments method

According to a source, the Equinox luxury fitness facility will begin accepting cryptocurrency as payment for membership. This makes the gym the first in New York to accept digital currencies for payment. For the new infrastructure, the company will collaborate with BitPay, a famous cryptocurrency payment provider. Nonetheless, Equinox has yet to make an official announcement about the decision.

 

 

Trader were wrong behind flash crash in European markets: Citigroup

Citigroup Inc. has accepted that one of its trading desks was behind a flash crash in Europe. Which further sent shares all over the continent imbalance following a sudden 8% deduction in Swedish stocks. The New York-based Citi Bank further highlighted that one of its traders made a mistake when inputting a transaction. However, within a few minutes, the firm identified the error and corrected it.

 

How Gold ETFs rewarded & became retail investors' favorite in last 2 years

In the past two years, more investors understand the significance of diversifying their portfolios beyond equity and debt. 🚀Wherein, more than 37 lakh retail investors’ portfolios were added. Further, the Gold ETFs and Gold FoF are having same tax implications. 🎯Also, the Sovereign Gold Bonds (SGBs) are mostly considered to be the best way to invest in gold.

 

Top EU Official Calls for Global Crypto Agreement

Mairead McGuinness, the European Commission's commissioner for financial services and capital markets is asking the global authorities to work together to address potential concerns in the cryptocurrency industry. She discussed the dangers of insider trading, the prospect of Russia using cryptocurrency to escape sanctions, and the necessity to solve environmental issues.

 

What is crypto exchange CoinFLEX and the FLEX Token❓

A centralized exchange, CoinFLEX is committed to offering retail and institutional investors a smooth accessible platform to earn as well as trade digital assets. 🚀Globally, it is marked as the second-largest in terms of daily transaction volume accelerating the trade of cryptos worth around $4.6B daily. 🎯It has launched its native coin FLEX which has tapped a market cap of over $400 mn.

 

A turn in fund managers under its schemes declared by ICICI Prudential MF

A change in fund managers has been informed by the ICICI Prudential Mutual Fund, which will be effective from 04 May 2022. For ICICI Prudential Child Care Fund-Gift Plan Ihab Dalwai, Manish Banthia and Ritesh Lunawat have been appointed. For Exports and Services Fund Sankaran Naren and Vaibhav Dusad have been hired. Further, for the Retirement Fund, Lalit Kumar, Manish Banthia and Anuj Tagra will.

 

Should investors prepare for another crypto market crash?

Peter Brandt recently shared a troubling graph that bears uncanny resemblances to the dot-com bust of the early 2000s. Brandt is a well-known chartist in the crypto field who predicted the 2018 crypto market meltdown. Peter pointed out that the Nasdaq 100 looks like that of the dot com chart right before the crash. As a result, a stock market meltdown might have dire implications for the crypto.

 

ITC and IIT Delhi inks a pact focusing on sustainable development goals

ITC Ltd. has signed an MoU with the Indian Institute of Technology, Delhi, to support research that will aid India to mark its Sustainable Development Goals. The research will target disciplines under STEM - science, technology, engineering, and mathematics. These areas now identified for research are energy storage, low carbon cold transportation, and plastic bio-degradation.

 

Bitcoin bulls defend mining in letter to EPA

A group of major bitcoin investors and miners sent a letter to the U.S. Environmental Protection Agency (EPA). In this letter, they defended bitcoin mining and discussed misconceptions regarding its environmental impacts. This letter is a response to the letter written to the EPA by members of Congress, who expressed concerns about how bitcoin mining has a negative impact on the environment.

 

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Hero MotoCorp's net profit likely to sink 33.6% in Q4

It is expected that Hero MotoCorp will post a 33.6% on-year fall in net profit to Rs 574.6 crore for the quarter ended March. Revenues from operations are likely to fall 11% on year to Rs 7,730 crore in the reporting quarter as volumes fell around 24% from the year-ago quarter. ICICI Securities expects the average selling price to rise 12% on-year in the March quarter.

 

Movie Studio Received $10M in Bitcoin for Shares

According to SEC records, Angel Studios, a Utah-based movie studio, added $10.6 million in bitcoin to its treasury. The transaction took place in October through a stock sale. The Company sold 1,685,392 shares of its Class A common stock for the average price of $9.28 on October 18, 2021. The shares were exchanged for $4,999,993 in cash and $10,649,895 in bitcoin, according to the documents.

 

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02/05/22

GHCL surge on stellar Q4 earnings performance

 

In early morning trade on Monday, the shares of GHCL surged after registering stellar fourth-quarter earnings. The commodity chemical firm posted a healthy 144 per cent rise in the net profit to Rs 271.3 crore in the quarter ended March 31, 2022, despite rising input costs, thanks to strong topline and operating income. Revenue during the quarter grew by 77 per cent to Rs 1,273.3 crore.

  

Altcoins see massive correction this week amid interest rate hike

 

With the news of the Federal Reserve raising the benchmark Fed funds rate by 0.5 percent in May, the market has seen a significant setback, with market evaluation dropping by $130 billion in two days. Bitcoin hit its near two-month low of slightly over $37,000 and altcoins have also seen a massive correction since the news came out. Ethereum also moved a 3% downside to hit 2.7k levels.

  

HFCL plunges on Monday after Q4 PAT declines by 21%

 

HFCL stock traded on a bearish note during Monday's early deals following a muted result in Q4FY22. The domestic telecom gear maker reported a 21% plunge in consolidated profit after tax to Rs 68 crore in Q4FY22 against a profit after tax of Rs 81 crore a year ago. Its revenue from operations in Q4FY22 also tanked by about 15% to Rs 1,182.98 crore from Rs 1,391.4 crore in Q4FY21.

  

Credit rating of Albert David’s bank facilities reaffirmed by CRISIL

 

The rapidly-growing pharma giant in India, Albert David Limited, has stated that its debt instruments worth Rs18.50 crore have been reviewed by CRISIL Ratings Limited. The long-term rating for cash credit worth Rs10 crore of the company has been reaffirmed by the rating agency at ‘CRISIL A-‘ and has given a Stable outlook for the same. The stock was trading down during the time of the news.

  

Amid market instability, Delhivery likely to shrink IPO size to Rs 5,500 Cr

 

Amid increasing market instability after the Ukraine war, IPO-bound logistics aggregator Delhivery is expected to shrink its initial public offering (IPO) size from INR 7,460 Cr per its draft red herring prospectus (DRHP) to INR 5,500 Cr. The maiden issue will consist of a fresh issue of INR 5,000 Cr and an INR 2,460 Cr offer for sale (OFS) by existing shareholders.

  

Rainbow Children's Medicare IPO GMP at ₹27 today

 

Rainbow Children's Medicare Limited’s initial public offering (IPO) opened for subscription on April 27 and conclude on April 29. According to the market observers, the shares of Rainbow Children's Medicare are available at a premium (GMP) of ₹27 in the grey market today. The company’s equity shares are anticipated to be listed on leading stock exchanges BSE and NSE on Tuesday, May 10, 2022.

  

Mahindra’s Farm Equipment dispatches 39,405 units in April 2022

 

Mahindra & Mahindra's Farm Equipment Sector (FES) reported its domestic tractor sales in April 2022 improved by 51% to 39405 units in comparison to 26130 units during April 2021. The tractor manufacturer's total tractor sales (Domestic + Exports) during April 2022 stood at 40939 units, as against 27523 units for the same month of 2021. Its exports for the month were 1534 units.

  

Tata Chemicals zoom after March quarter earnings

 

The share price of Tata Chemicals zoomed in the early morning trade on Monday after the company reported stellar performance in the quarter ended March. It reported a multi-fold jump in consolidated profit after tax at Rs 470.24 crore for the quarter ended March. The company's PAT was at Rs 29.26 crore in the year-ago period. At 10.31 am, the stock was trading at Rs 1,043, up 10.87%, on NSE.

  

Lupin inaugurates its Reference Laboratory in Guwahati, Assam

 

Lupin Limited reported that Lupin Diagnostics has inaugurated its Reference Laboratory in Guwahati in North East India. The Reference Laboratory in Guwahati will undertake a broad spectrum of routine and specialized tests in molecular diagnostics, cytogenetics, flow cytometry, histopathology, cytology, microbiology, serology, haematology, immunology and routine biochemistry.

  

TVS Motors rolls out TVS NTORQ 125 XT

 

The reputed manufacturer of two-wheelers and three-wheelers in the world, TVS Motor Company Limited, has notified the launch of its TVS NTORQ 125 XT. The new variant is equipped with a SmartXonnectTM connectivity platform which is set to generate a new benchmark in the segment. The segment-first hybrid SmartXonnectTM with coloured TFT and LCD console is one of the key features of the variant.

  

Campus Activewear IPO GMP stands at ₹85 today

 

The three-day initial public offer (IPO) of Campus Activewear was subscribed 51.75 times on Day 3 of subscription. The robust subscription was due to strong interest from institutional buyers. Market analysts suggest that athleisure footwear company's shares are commanding a premium (GMP) of ₹85 today. Campus Activewear's shares are expected to list on bourses on May 9, 2022.

  

Natural gas production growth fades in US as need arises

 

Despite being the world’s largest producer of natural gas, the Unites States’ natural gas production is fading. This comes at a time when several countries are trying to curb their dependence on Russian gas after Moscow’s invasion of Ukraine. The Appalachian region and West Texas, which are the two mainstays of production in the U.S. are seeing slow

  

Rupee appreciates 6 paise to 76.44 versus US dollar in early trade

 

On Monday’s opening trade, the rupee gained 6 paise to 76.44 versus the US dollar amid a pullback in global crude prices. At the interbank foreign exchange, the rupee opened strong at 76.48 and gained further ground to quote 76.44 versus the American dollar, registering a surge of 6 paise from the last close. In the previous session, the rupee had settled at 76.50 against the greenback.

  

LIC IPO's GMP stands at ₹75 in the grey market today

 

The long-anticipated Life Insurance Corporation;'s maiden issue is set to open this week on Wednesday, May 4 and will close for subscription on May 9. The insurance behemoth of India has finalised its price band for the initial share sale at ₹902 to ₹949 apiece. Market analysts suggested LIC shares are available at a premium (GMP) of ₹75 in the grey market today.

  

Welspun Corp secures worth Rs1,600 crore project from Soma Indus

 

Welspun Corp Limited announced that it has garnered a procurement and construction project from Soma Indus Varanasi Aurangabad Tollway Private Limited for an additional contract of Rs1,600 crore (inclusive of GST). The company added that the project will commence in May 2022 and is scheduled to be completed by November 2023. The stock was trading down during the time of the news.

 

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01/05/22

 

GST collection hits an all-time high at Rs 1.68 lakh crore in April 2022

 

Goods and Services Tax monthly collection reached an all-time high of Rs 1.68 lakh crore in April 2022. During the same month, the gross GST collection hit the Rs 1.5 lakh crore mark for the first time. Out of Rs 1,67,540 crore GST, CGST was Rs 33,159 crore, SGST was Rs 41,793 crore, IGST was Rs 81,939 crore (including Rs 36,705 crore collected on import of goods), and cess was Rs 10,649 crore.

 

Bitcoin being accumulated by Whales as price plunges under $40,000

Bitcoin whales are accumulating as much BTC as possible after the world's most popular digital asset was trading on a bearish note. The latest Barron report suggests that Bitcoin whales' accumulation of BTC has increased significantly, crossing the level recorded last September. With the crypto still hovering below $40,000 level, the accumulation phase might be here to stay.

 

Majority stake in TruJet to be bought byWinAir for Rs 200 crore

WinAir (We Indian Nationals) Aviation purchased a 79 per cent equity stake in Hyderabad- headquartered regional airline TruJet, owned by Turbo Megha Airways Pvt Ltd, for consideration of Rs 200 crore. WinAir announced that the managing director of TruJet Umesh Vankayalapati has inked the term sheet deal with WinAir’s chairman and managing director Samuel Timothy on April 26.

 

Top 3 factors to drive stock action on Monday

Wall Street on Friday plunged to its deepest daily losses since 2020 dragged by Amazon. European stocks however gained on Friday to their highest in a week amid strong earnings reports. The pan-European STOXX 600 index hiked by 1.1%. Nifty50 developed a Bearish Engulfing pattern on the daily chart on Friday and tanked below its 200-day and 50-day simple moving averages.

 

Saudi Arabia's economy estimated to improve by 9.6% in Q1 FY22

Saudi Arabia's economy is estimated to improve by 9.6% in the first quarter of 2022, as against a year earlier thanks to a recovery in the oil sector. During the first quarter, oil activity in Saudi Arabia hiked by 20.4% and non-oil activity by 3.7%. Saudi General Authority for Statistics asserted that if the estimates turn out true, they would lead to the highest growth rate since 2011.

 

Sportking India's net profit declines by 10.48% QoQ to Rs. 103.96 cr in Q4

Sportking India's total income stood at Rs. 599.2552 crores (up 1% QoQ) during Q4FY22 as against Rs. 593.3095 crores during the period ended December 31, 2021. The Company's net profit, however, declined by 10.48% QoQ to Rs. 103.96 cr in the period ended March 31, 2022, in comparison to a net profit of Rs. 116.1282 crores for the period ended December 31, 2021.

 

UK Crypto companies onboarding Cybercrime Experts with huge pay hike

UK crypto firms are onboarding experienced cybercrime police. The move will likely boost the firms' regulatory compliance measures. The National Police Chiefs’ Council, which is the body that represents all police officers in the UK, announced that experienced cybercrime cops are exiting the force at 3 – 4 times higher rates than other police officers.

 

Tata Motors witness 74% YoY growth in April auto sales

Tata Motors' automobile sales zoomed by more than two-third in April 2022 as compared to the corresponding period last year. However, competitors Hyundai India and Maruti Suzuki registered a decline. Tata Motors posted a 74% YoY hike in April 2022, as it sold 72,468 units of vehicles against 41,729 units in April 2021. The automaker's total domestic sales came in at 71,467 units in April 2022.

 

Nifty might start the coming week with a gap down

The domestic benchmark index-- Nifty gave up all its gains in the last hour and a half of the session on Friday and closed in the negative. Nifty current month futures added over 2.95 lakh shares or 3.47% in Open Interest. The increase in OI along with the decline in Nifty pointed towards an increase in fresh short positions. Experts suggest Monday's session may see a negative start to the week.

 

Usha Martin PAT increases by 62.07% QoQ to Rs. 108.65 crores in Q4 FY2

Usha Martin's total income in Q4FY22 stood at Rs. 772.73 crores (up by 7.17% QoQ) as against Rs. 721.02 crores during the period ended December 31, 2021. The Company's net profit for Q4FY22 improved by 62.07% QoQ to Rs. 108.65 crores in comparison to Rs. 67.04 crores for the period ended December 31, 2021. Its net profit stood at Rs.67.83 crores for the period ended March 31, 2021.

 

Bliss GVS Pharma's consolidated PAT jumps by 139.18% to Rs. 19.63 cr in Q4

Bliss GVS Pharma's registered a total income of Rs. 179.2518 crores during Q4FY22 as compared to Rs. 222.2942 crores during the period ended December 31, 2021. The pharma player announced a net profit of Rs. 19.6320 crores (up by 139.18%) for the period ended March 31, 2022, in comparison to a loss of Rs. 50.1122 crores for the period ended December

 

Solana resumes after 7 hour outage caused by surge of transactions

The validator operators of Solana, a proof-of-stake blockchain Tweeted that they have managed to complete a cluster restart at about 11 p.m. ET on Saturday after a roughly 7 hr outage when the network failed to reach consensus. One of the validators coordinating through the Solana discord sent a Google doc of instructions late at night that enabled the operators to restart the cluster at slot.

 

Elon Musk mocks Warren Buffett's attack on Bitcoin that led to price fall

Elon Musk has mocked the legendary investor Warren Buffett as he expressed negative feelings toward Bitcoin. Warren Buffett and Berkshire Hathaway's vice chairman Charlie Munger both used the company's annual shareholder meeting to reiterate their negative feelings toward Bitcoin, which led to its price fall. To this, Musk expressed in a tweet, "Haha, he says 'bitcoin' so many times."

 

Firm grip by govt on global food stocks leading to higher prices

Ukraine restricted exports of sunflower oil, wheat, oats and cattle in an attempt to protect its war-torn economy. Similarly, Russia ceased sales of fertilizer, sugar and grains to other nations. Indonesia even suspended outgoing shipments of palm oil. Notably, export restrictions are making grains, oils, meat and fertilizer — already at record prices — more expensive and even harder to come by.

 

Check out stocks that moved the most last week

Mahindra CIE: Jumps over 18% after reporting a consolidated net profit of Rs 161.42 cr in March Qtr. Hero MotoCorp: Rallied 9% as the stock gained on improved demand in Apr'22 due to the festive and ongoing marriage season Coromandel International: Surged 7% after net profit surged 85.94% to Rs 289.79 cr. Persistent System: Up 7% net profit of the firm came in at Rs. 200.99 cr.

 

Berkshire Hathaway Charlie Munger says Bitcoin "Very Likely" going to zero

Neither Berkshire Hathaway CEO Warren Buffett nor his right-hand man--Berkshire Hathaway Vice Chairman Charlie Munger has warmed up to Bitcoin. Munger, during the annual shareholder meeting in Omaha, forecasted that the world’s most popular digital asset will "very likely" collapse to zero. Even Buffett has reiterated that Bitcoin doesn’t produce anything.

 

 Check out stocks that moved the most last week

Mahindra CIE: Jumps over 18% after reporting a consolidated net profit of Rs 161.42 cr in March Qtr. Hero MotoCor: Rallied 9% as the stock gained on improved demand in Apr'22 due to the festive and ongoing marriage season Coromandel International: Surged 7% after net profit surged 85.94% to Rs 289.79 cr. Persistent System: Up 7% net profit of the firm came in at Rs. 200.99 cr.