Security Financial News

Wipro, Srinivas Pallia, who has been with the company for over three decades, sold all his shares worth Rs 5 crore in it in the public market. Pallia disposed of his 1,00,000 Wipro shares through “market sale” on February 14 this year and the transaction was reported to the exchange on February 15. The total value of the transaction was Rs 5,05,12,640. As per information on the BSE, securities currently held by Pallia post transaction amounted to zero.

Bitcoin (BTCUSD) traded flat while spot bitcoin exchange-traded funds (ETFs), which have been driving up bitcoin demand and consequently its price, experienced a rare week of net outflows as the markets geared up for the halving event later this week.

Hotel Leela Venture Limited (HLV) has challenged ITC's claims of shareholder oppression against it in a fresh twist to a five-year-old legal tussle at the centre of which is the 2019 sale of key Leela properties to Canada's investment giant Brookfield for ₹4,250 crore, according to sources aware of the developments. ITC is opposing that sale transaction claiming it was to the detriment of minority shareholders. The cigarettes-to-FMCG conglomerate owns a stake in HLV Limited. National Company Law Tribunal (NCLT) allowed ITC's petition claiming shareholder oppression and mismanagement at HLV Limited on January 24 this year, though the company doesn't have the requisite shareholding of 10% required to file such lawsuits as per rules laid down in India's Companies Act.

China's procurement of medical devices as it seeks to address concerns that Beijing's policies are unfairly favouring domestic suppliers. The probe may be announced as early as mid-April and could result in the bloc curtailing Chinese access to its tenders, according to people familiar with the matter. It would constitute a first outing for the EU's so-called International Procurement Instrument, or IPI, a 2022 law that's meant to promote reciprocity in access to public procurement markets.

S Jaishankar on Monday said that the government was sparing no efforts in getting the 17 Indians released. Speaking at a press conference in Bengaluru, he said that when he talked to his Iranian counterpart he seemed «responsive» and that he wanted the embassy officials to get in touch with the crew members soon. «Narendra Modi's guarantees are for both inside the country and outside,» he said, adding the Indian government would be there for any Indian who was in trouble outside the country.

₹1.64 trillion for fertilizer subsidies, 13% lower than the revised estimates for FY24. Sitharaman had also estimated 5% higher excise duty collection from the petroleum sector in FY25 at ₹3.18 trillion. During the fiscal year, Centre’s excise duty receipts had declined by 4.8% annually to ₹3.04 trillion.

Crude oil prices can hit $100 a barrel if Iran-Israel tensions escalate, say experts “Crude oil dipped around $85 after Israel successfully defended itself from Iran's large-scale air attack over the weekend, and the US underlined its desire to prevent a larger Middle East conflict. The Iranian strike did minimal damage in Israel.

Elon Musk's Tesla lays off 14,000 global positions amid slowdown in EV demand: 'This will enable us...' “The Company, BlackRock, Inc. and BlackRock Advisors Singapore Pte. Ltd.

Fintech firm Apex has announced a first-of-its-kind transaction: the successful completion of an account transfer using the latest messaging protocols from the National Securities Clearing Corp.’s Automated Customer Account Transfer Service.

Jio Financial Services and BlackRock join hands for wealth management, broking business If approved by the board, the conglomerate will announce its second dividend for the financial year 2023-2024. In the June quarter, the Mukesh Ambani-owned company announced a dividend of ₹9, making it the first of the fiscal year.

government body, the vulnerabilities have been identified across a range of Microsoft products, such as Microsoft Windows, Azure services, Microsoft Office, Bing, Microsoft Dynamics, System Center and Exchange Server. Among these, Microsoft Exchange Server, a tool integral to business collaboration, has been found vulnerable. The vulnerabilities discovered by CERT-In encompass a variety of potential exploits, including the ability for attackers to gain elevated privileges, obtain confidential information, bypass security measures, execute remote code attacks, initiate spoofing attacks, or cause denial of service disruptions.

Ledger and Stader Labs’ collaboration has grown stronger, ushering in an era of one-click ETH staking for Ledger users with highest rewards. With standard staking rewards at 3.5%, Stader is offering more than double staking rewards on Ledger. ETHx users on Ledger can now earn 10% staking rewards for the first month and 6% for the next 2 months. This offers Ledger users unparalleled convenience and rewards for staking their ETH. 

Are you a Crypto investor, always on the lookout for the next explosive altcoin? However, the market trends and predictions are too difficult for you to understand? Do not worry as we have brought the top 3 altcoins: BEFE, BRISE and CENX. 

Nifty on Monday fell 247 points to form a Shooting Star candle on the daily chart and violated the crucial support of 20-day EMA placed at 22,370. The larger degree positive chart pattern like higher tops and bottoms is intact on the weekly chart and present weakness could be in line with the formation of a new higher bottom of the pattern. Still, there is no confirmation of any higher bottom reversal yet at the lows.

Pine Labs. While Baron Funds hiked its valuation to $5.8 billion, Invesco has raised it to $4.8 billion as of December 2023, regulatory filings with the US Securities and Exchange Commission showed. Baron Funds had valued Pine Labs at $5.3 billion in September last year. On January 4, ET reported that Invesco had cut the valuation of Pine Labs to $3.9 billion as of October 31.

Motilal Oswal Financial Services on Monday said it plans to raise up to Rs 1,000 crore by issuing non-convertible debentures (NCDs) through public issue. The company proposes to raise through the Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 500 crore (Base Issue Size), with a green shoe option of up to Rs 500 crore, cumulatively aggregating up to Rs 1,000 crore. There are eight series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly and at maturity interest options.

Across the Indian financial landscape, small savings schemes have long played a pivotal role, offering a blend of benefits and risks that shape the financial landscape. In February 2022, small saving deposits totaled Rs 9.9 lakh crore, a mere fraction of the overall SCB deposits amounting to Rs 170.2 lakh crore. However, research conducted by Bank of Baroda reveals that the ratio of small saving deposits to commercial bank deposits has increased from 4.4 percent to 5.8 percent over the past five years. This highlights a significant trend in India’s financial landscape, indicating a steady increase in the proportion of small saving deposits relative to commercial bank deposits over the past five years.

Focusing on promoting entrepreneurship in India, Zerodha co-founder Nikhil Kamath on Monday launched a non-dilutive sector-agnostic grant fund WTFund. The new fund will back entrepreneurs aged 25 and under with the potential to “revolutionize their industries through innovative ideas and compelling visions,” WTF said in a statement.

The Indian equity indices on Monday continued Friday’s negative spell on the back of geopolitical tension coming out of West Asia. Sensex dipped 845 points or 1.14% to close the day’s trading at 73,399.78. The Nifty 50 closed 246.90 points or 1.10% lower at 22,272.50. The losers included Shriram Finance, Bajaj Finserv, Wipro, ICICI Bank, and Larsen & Toubro. The Indian Volatility Index (India VIX) closed 8.07% higher. 

The Employees’ Provident Fund Organisation (EPFO) plays a crucial role in promoting financial safety and stability among employees, especially in the organised sector. One of the primary benefits provided by EPFO is the accumulation of retirement savings through the EPF scheme.

Geetanjali Homestate, a leading real estate agency, has unveiled its latest service, Home Loan Assistance, designed to simplify the property purchasing journey and provide customers with seamless solutions for their property financing needs.