Day: July 5, 2022

Axis MF case: AMC submits probe report to Sebi, says conduct of individuals has no impact on liquidity

Axis Asset Management Company, which had sacked its two fund managers in May, on Tuesday said a detailed probe has found that they had violated securities law but emphasised that their conduct would not have any impact on its operations. The mutual fund promoted by Axis Bank terminated the services of its chief trader and …

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IEX day-ahead market prices soften further in June

The average market clearing price in the day-ahead market (DAM) on the Indian Energy Exchange cooled further in June, from the record high prices in April 2022, helped by increased availability of power and monsoon rains providing respite from record summer temperatures. “IEX achieved 8,267 million unit volume in June comprising 7,058 MU in conventional …

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Sebi bars Profit Redefine, proprietor from securities markets for unauthorised investment advisory

New Delhi: Capital markets regulator Sebi on Tuesday barred Profit Redefine Financial Solution and its proprietor Sanjay Yadav from acting as investment advisors for providing unauthorised trading tips and stock recommendation to investors. Besides, they have been restrained from accessing the securities market for six months. The order comes from an interim order-cum-show-cause notice dated …

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Oil plummets below $100 as recession risks come to forefront

Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, slid 8.4%, or $9.14, to trade at $99.29 per barrel. The contract last traded under $100 on May 11. International …

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Bank of England: Crypto crashes show need for tougher rules

The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations The U.K.’s central bank said that the crashes exposed vulnerabilities in the crypto markets reminiscent of previous bouts of financial turmoil. Extreme volatility in the crypto markets, including so-called …

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Copper sinks to 17-month low as recession fears dominate trade

Copper fell to the lowest level in 17 months, with metals extending losses as global recession fears continue to damp the demand outlook for commodities. Sentiment remains sour for the industrial materials used in everything from construction to new energy vehicles. Copper, widely considered an economic bellwether, is trading solidly below …

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Coffee Day Enterprises’ total default at Rs 470.18 crore in first quarter of FY23

on Tuesday reported a total default of Rs 470.18 crore on payments of interest and repayment of principal amount on loans from banks and financial institutions for the quarter ended June 30, 2022. The debt-ridden company, which is pairing its debts through asset resolution, has a total debt of Rs 495.18 crore, including short-term and …

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Dow falls more than 500 points as Wall Street grapples with recession fears

Wall Street’s main indexes opened lower on Tuesday, with investors fretting about the possibility of an economic recession as central banks across the world take aggressive actions to contain a surge in inflation. The Dow Jones Industrial Average fell 532 points, or about 1.71%. The S&P 500 dipped 1.5%, and the tech-heavy Nasdaq Composite shed …

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