Name: ₹50 cr value firms must have digital payment facility
Uploaded: 2019-12-31T13:10:56.0+05:30
Duration: T00M21S
Channel: editorji
Description: Firms with an annual turnover of ₹50 crore or more are required to provide digital payment facilities to customers as part of government's stride towards a less-cash economy. Failing which, they would be made to cough up ₹5,000 a day as penalty from February 1, 2020. However, companies do not have to pay any penalty till January 31 for not installing the system.

Firms with an annual turnover of ₹50 crore or more are required to provide digital payment facilities to customers as part of government's stride towards a less-cash ec

₹50 cr value firms must have digital payment facility

Firms with an annual turnover of ₹50 crore or more are required to provide digital payment facilities to customers as part of government's stride towards a less-cash economy. Failing which, they would be made to cough up ₹5,000 a day as penalty from February 1, 2020. However, companies&nbsp;do not have to pay any penalty till January 31 for not installing the system.
&nbsp;

Firms with an annual turnover of ₹50 crore or more are required to provide digital payment facilities to customers as part of government's stride towards a less-cash economy. Failing which, they would be made to cough up ₹5,000 a day as penalty from February 1, 2020. However, companies do not have to pay any penalty till January 31 for not installing the system.

Sensex and Nifty headed sharply lower in early trade following weak global cues sparked by inflation and rate hike talk by the Federal Reserve. The US stocks nosed

Sensex and Nifty headed sharply lower in early trade following weak global cues sparked by inflation and rate hike talk by the Federal Reserve. Nifty and Sensex&nbsp;saw a 1% drop in early trade with Nifty hovering around the 15,500 mark. This follows a crack on Wall Street on Friday. US stocks nosedived with the Dow falls 500 points on Friday after Federal Reserve official James Bullard that the he was supporting the group of seven members that believes rate increases will&nbsp;begin next year. This comes as the Fed has moved up it's rate hike calendar to 2023 due to a rise in inflation forecast.&nbsp; Japanese markets were down 3% on pressures from automakers and exporters while Chinese markets were also in the red even as the Central Bank left rates unchanged&nbsp;

US markets took a hit as the 30 stock Dow fell more than 500 points as investors got spooked by Federal Reserve (Fed) commentary on earlier than expected rate hikes.&nb

US markets took a hit as the 30 stock Dow fell more than 500 points as investors got spooked by Federal Reserve (Fed) commentary on earlier than expected rate hikes.&nbsp; The US stocks nosedived after Federal Reserve official James Bullard that the he was supporting the group of seven members that believes rate increases will&nbsp;begin next year. This comes as the Fed has moved up it's rate hike calendar to 2023 due to a rise in inflation forecast.&nbsp; Financials&nbsp;were down 6%, Energy sector down 5% were the worst hit on Wall Street.&nbsp; For the week, the Dow lost 3.5%. The S&amp;P 500 and Nasdaq were down by 1.9% and 0.2%, respectively.

Shareholder were aghast as the market favourite Adani group stocks sank in Monday’s trade and shareholders lost heavily as the market-cap of Adani group sto

Shareholder were aghast as the market favourite Adani group stocks sank in Monday&rsquo;s trade and shareholders lost heavily as&nbsp; the market-cap of Adani group stocks fell nearly by Rs 1.03 lakh crore in a single session.&nbsp; The Allegation ET headlined a story stating&nbsp;accounts of three foreign funds that are big stakeholders of Adani group companies were frozen by the depository NSDL, leading to panic selling in across the board Adani stocks which had gained between 100%-800% in the last one year.&nbsp; The Clarification Adani Group wrote to NSDL to clarify on the allegations, the depository in a response India&rsquo;s second biggest conglomerate stated that&nbsp;&nbsp;the status of the demat accounts of the three funds holding shares in Adani Group companies is &ldquo;active&rdquo;&nbsp;in the NSDL system.Gautam Adani backed firms then informed&nbsp;stock exchanges that the demat accounts in which these foreign funds hold their shares were not frozen. The accounts in question are of&nbsp;Albula Investment Fund, Cresta Fund and APMS Investment Fund, which together own shares worth more than Rs 43,500 crore in Adani Group stocks.&nbsp;
 The Confusion: So is NSDL the order old or incorrect? NSDL officials quoted by Indian Express &amp; Moneycontrol stated that the reason why the NSDL website continues to reflect the name of these three foreign funds &mdash; Albula Investment Fund, Cresta Fund and APMS Investment Fund &mdash; in the list of frozen accounts as on May 31, 2021, was because these accounts were different from those which held shares of Adani Group companies and &nbsp;this punitive action pertains to older cases.&nbsp; Reuters as well quoted an unnamed NSDL official as saying the freeze is on accounts of the funds that hold certain other securities and is not new. "NSDL hasn't taken any action now,&rdquo;
 The Response:&nbsp;Adani hits back&nbsp; The Adani group hit back, stating to the exchange "We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group.&nbsp;We are issuing this letter in the larger public interest and for the protection of minority investors interest"

Traders betting on big stock action in Monday's trade here are the stocks on the radar-: DLF: Strong earnings coming in, Q4 profit at Rs 481 crore vs a los

Traders betting on big stock action in Monday's trade here are the stocks on the radar-:
<ul>
<li>DLF: Strong earnings coming in,&nbsp;Q4 profit at Rs 481 crore&nbsp;vs a loss last year. CLSA raises target price on the stock from Rs 300 to Rs 350, signaling a 16% upside from here.</li>
<li>Coal India: Trading at a fresh 52-week high, shareholders awaiting news as board likely to announce 20-25% additional dividend.</li>
<li>Lupin: Plant in New Jersey has been issued a warning letter by the US FDA, the facility makes up 5% of its overall sale.</li>
<li>Adani Enterprises: Forays into cement business, incorporates a fully owned subsidiary called Adani&nbsp;Cement</li>
<li>Reliance Power: Board approves preferential issue of shares and warrants to Reliance Infra at Rs 10/sh, to raise Rs 1325 cr.&nbsp;</li>
</ul>

Focus on big IPOs this week, Sona Comstar in the spotlight after raising a whopping Rs 2498 cr from anchor investors. Is it a good investment for you her

Focus on big IPOs&nbsp;this week, Sona&nbsp;Comstar&nbsp;in the spotlight after raising a whopping Rs 2498 cr from anchor investors. Is this supplier to Tesla a good investment for you here are the details you need to make a decision-:
About Sona Comstar
<ul>
<li>Gurugram-based automotive components manufacturer</li>
<li>PE giant Blackstone currently owns 65% stake&nbsp;</li>
<li>Industry leader in highly specialised "mission-critical" auto components</li>
<li>Backed by Indian promoter group Sona Group, erstwhile owner of Sona Koya&nbsp;</li>
<li>Headed by Chairman Sunjay Kapur, the Group merged with Chennai based Comstar in 2019</li>
</ul>
IPO Details&nbsp;
<ul>
<li>Issue Dates: June 14-16</li>
<li>Issue Price:&nbsp;Rs 285-291 per equity share</li>
<li>Minimum Bid:&nbsp;51 shares&nbsp;</li>
<li>Maximum Bid: 14 lots of 51 shares&nbsp;</li>
<li>Cost to Retail of 1 lot:&nbsp;Rs 14,841@ Rs 291/share</li>
<li>Issue Size: Looking to raise&nbsp;Rs 5,550 crore&nbsp;</li>
</ul>
 Financials In Focus&nbsp;
<ul>
<li>Raised Rs 2,498 crore through anchor investors</li>
<li>Third largest anchor investment in an Indian IPO</li>
<li>Anchor investment from 42 institutional investors, including 24 foreign portfolio investors</li>
<li>Anchor investors issued 8.6 crore shares at&nbsp;Rs 291 per share.</li>
<li>Govt of Singapore, Fidelity, Goldman Sachs among anchor investors</li>
<li>Big bets on EV, 14% revenue&nbsp;from pure battery-electric vehicles (BEVs)</li>
<li>27% revenue from&nbsp;hybrid and micro-hybrid vehicles</li>
</ul>

Here are the top 5 stocks on the traders' radar-: Bandhan Bank: RBI nod coming for re-appointment of Chandra Shekhar Ghosh, Managing Director & Chief Execut

Here are the top 5 stocks on the traders' radar-:
<ol>
<li>Bandhan Bank: RBI&nbsp;nod coming for re-appointment of Chandra Shekhar Ghosh, Managing Director &amp; Chief Executive Officer of the bank, for a period of three years, with effect from July 10, 2021.</li>
<li>Glenmark Pharma: Unit gets IPO&nbsp;nod, Glenmark&nbsp;Life Sciences gets SEBI&nbsp;approval for IPO, parent company to sell 7.3 million shares via OFS&nbsp;</li>
<li>Prestige Estates: Net profit at Rs 1,336.3 crore against Rs 15.4 crore (YoY). One-time gain at Rs 1,469 crore.</li>
<li>Religare: To raise Rs 570 cr via preferential issue of shares, stock up 45% in one month&nbsp;</li>
<li>Max Financial: Brokerages bullish, CLSA&nbsp;maintains a Buy with a target of Rs 1350/share, a 30% upside from current prices</li>
</ol>

Reports indicate that the Govt think tank Niti Ayog has submitted the names of the PSU Banks that can be privatised this year. Niti Aayog has been give

Reports indicate that the Govt think tank Niti&nbsp;Ayog has submitted the names of the PSU&nbsp;Banks that can be privatised this year.&nbsp;
Niti Aayog has been given the task of selecting names of two public sector banks and one general insurance company for privatisation as planned in the Budget for FY'22. Bank of Maharashtra is up over 30% in one week, Indian Overseas Bank is up over 25% in the same period as traders bet on the privatisation theme.&nbsp;

Nifty crossed 15,600 with ease hitting a record high, buzzing stocks galore here are the top 5 you need to keep an eye on-: Reliance Industries: Leading the pack on

Nifty crossed 15,600 with ease hitting a record high, buzzing stocks galore here are the top 5 you need to keep an eye on-:
<ul>
<li>Reliance Industries: Leading the pack on index, stock is up 20% in the last 10 sessions and ahead of it's AGM&nbsp;the interest in Jio&nbsp;Smart Phone is keeping traders excited on the stock</li>
<li>Snowman Logistics: Stock soars 10% as it ties up with Dr Reddy's for Sputnik V vaccine delivery&nbsp;</li>
<li>Sugar Pack: Global sugar prices continue to remain high as crop in Brazil, Thailand falling below yearly averages.&nbsp;</li>
<li>Titan: Backed by Rakesh&nbsp;Jhunjhunwala&nbsp;this stock is shining in trade as gold prices continue to hold firm and&nbsp; the new hallmark norms would boost Tanishq's share in gold jewellery market.&nbsp;</li>
<li>Adani Enterprises: Stock at a record high, infact all Adani&nbsp;pack stocks continue to outperform the market.&nbsp;</li>
</ul>

This stock is up over 50% in 3 sessions, find out what's the buzz? Locked up in upper circuit over 3 session PNB Housing Finance is up a whopping 300% from it’s

Locked up in upper circuit over 3 session PNB Housing Finance is up a whopping 300% from it&rsquo;s one year low.&nbsp;
So what&rsquo;s keeping traders buzzing on the mortgage lender?It&rsquo;s the entry of Carlyle and veteran banker Aaditya Puri as controlling investors that is scripting this turnaround for the housing finance company
Aditya Puri-led Salisbury Investments and Carlyle will invest up to Rs 3,185 crore in the housing finance company through a preferential issue priced at Rs 390 per share, they will make an open offer for a further 26 per cent stake in the housing finance company as well with a floor price of Rs 409/share. Aaditya Puri will also be joining the board of PNB Housing Finance.
The coming in of new investors will also lead to legacy bank PNB reducing it&rsquo;s stake in the business to 20% which opens up the possibility of rebranding and withdrawing from the PNB brand umbrealla for the housing finance firm.&nbsp;

As the markets remain rangebound amid tepid global cues here are 5 stocks you need to keep an eye on in trade-: ITC: Q4 Profit down 1.3% as sharper-than-expecte

As the markets remain rangebound&nbsp;amid tepid global cues here are 5 stocks you need to keep an eye on in trade-:
<ul>
<li>ITC: Q4 Profit down 1.3% as sharper-than-expected raw material cost added pressure, CLSA&nbsp;maintains a BUY but cuts price target to Rs 265/share.</li>
<li>Maruti: Sales declines over 70% in May vs April, Exports as well slump 35% underperforming&nbsp;peers.&nbsp;</li>
<li>Ashok&nbsp;Leyland:&nbsp;66% drop in sales in May vs April, underperperformed the industry which saw a 47% drop in sales in May (MoM).&nbsp;</li>
<li>Motherson&nbsp;Sumi: Earnings today, Profit seen rising nearly 3 times to Rs 610 cr. Stock up over 50% in the last 6 months.&nbsp;</li>
<li>JSW&nbsp;Steel: Steel price hikes kick off, company announced a significant hike in list prices of HRC by Rs 3,150/t</li>
</ul>

India's largest bank is the star of Dalal Street hitting a new record high and closing in on Rs 4 lakh crore marketcap and brokerages believe there is st

India's largest bank is the star of Dalal&nbsp;Street hitting a new record high and closing in on Rs 4 lakh crore&nbsp;marketcap&nbsp;and brokerages believe there is still a lot of steam left in the stock.&nbsp; CLSA&nbsp;who has been bullish on the stock from August believes the 55% rally this year could extend further. The brokerage is reiterating their BUY target with a price target of&nbsp;Rs 650/share which offers a&nbsp;+50% upside from the current levels.&nbsp; SBI&nbsp;is up 150% from it's one year low of Rs 175/sh and has outperformed other banking peers by 40-70%.&nbsp;

Here are the top stocks on the brokerages radar-: CLSA on Aurobindo Pharma Cuts rating from BUY to Outperform on limited upside Sets price target at Rs 1040/share

Here are the top stocks on the brokerages radar-:
CLSA on Aurobindo Pharma
<ul>
<li>Cuts rating from BUY to Outperform on limited upside</li>
<li>Sets price target at Rs 1040/share (+4% upside)</li>
<li>Limited upside following the recent rally leading to cut in rating</li>
</ul>
Morgan Stanley on Glenmark Pharma
<ul>
<li>Raises price target to Rs 554/sh vs Rs 424/share earlier</li>
<li>Expect 8-10 launches (including three niche products) in the US</li>
<li>Retain Underweight rating on the stock&nbsp;</li>
</ul>
ICICI Sec on PNB Housing Finance&nbsp;
<ul>
<li>Upgrade to BUY&nbsp;rating</li>
<li>Raise price target to Rs 678/sh vs Rs 385/sh earlier&nbsp;</li>
<li>Board approval for preferential issue to Carlyle reduces overhang</li>
<li>Aditya Puri&rsquo;s nomination to the Board will lend considerable credence</li>
</ul>
Kotak&nbsp;Instl&nbsp;Equities on Karur Vysya Bank&nbsp;
<ul>
<li>Maintain Buy rating,&nbsp; Price target at Rs 65/sh</li>
<li>Decline in operating profits on account of lower provisions</li>
<li>Asset quality is showing resilience</li>
</ul>

Local news taking precedence on Dalal Street as Wall Street will remain shut on Monday on account of Memorial Day. Here are the stocks in news you need to keep an eye o

Local news taking precedence on Dalal Street as Wall Street will remain shut on Monday on account of Memorial Day. Here are the stocks in news you need to keep an eye on -:
<ul>
<li>PNB Housing Finance: Stock locked up in upper circuit as company approved fund raising which will be led by Carlyle.&nbsp;The Carlyle Group to make open offer for up to 7.08 cr equity shares at Rs 403.22/sh&nbsp;</li>
<li>Divis Lab: Strong set of earnings has prompted brokerage bets, Goldman Sachs has raised the Buy Target to Rs 4530/share, while Jefferies&nbsp;remains bullish with a Rs 4732/share target.&nbsp;</li>
<li>Redington: After rising almost 70% this year, this stock continues to soar to fresh 52 week high. The company reported a 153% rise in Q4 profit on Friday.&nbsp;</li>
<li>M&amp;M: Stock has seen some profit booking as it fell almost 6% after the company reported Q4 net profit at ₹163cr against an expectation of ₹1,015cr. Goldman Sachs has a 'buy' call with a target at ₹993 per share;&nbsp;CLSA&nbsp;has a 'buy' call with target price to ₹1,090</li>
<li>&nbsp;</li>
</ul>

The retail rush to the stock markets in the pandemic is evident with India's largest brokerage Zerodha doubling it's profit to over ₹ 1,000 cr in the last one year

The retail rush to the stock markets in the pandemic is evident with India's largest brokerage Zerodha&nbsp;doubling it's profit to over ₹ 1,000 cr in the last one year.&nbsp;
The discount broker reported profit of&nbsp;₹ 1,043 cr in FY'21 which is double of what it took in last year and 4 times the profit from 4 years ago in FY'18.&nbsp; Zerodha's&nbsp;profit trajectory-:
<ul>
<li>FY'21:&nbsp;₹ 1,043 cr</li>
<li>FY'20:&nbsp; &nbsp; ₹ 440 cr</li>
<li>FY'19:&nbsp; &nbsp; ₹ 350 cr</li>
<li>FY'18:&nbsp; &nbsp;&nbsp;₹ 250 cr&nbsp;</li>
</ul>
The 10 year old&nbsp;discount brokerage firm that has been a disruptor in the space has over 5 million active users, Zerodha is India&rsquo;s largest retail stock broking platform, managing around 15% of all trading volume in India
Founders&nbsp;Nithin&nbsp;and Nikhil&nbsp;Kamath&nbsp;who have been in the headlines after the board approved salary limit for founders to ₹ 1000 cr took to social media to clarify as they tweeted "Firstly the reported figure isn&rsquo;t the actual salary being drawn. This is an enabling resolution that allows us as working promoters to draw salaries up to the number in case of liquidity requirements. Didn&rsquo;t anticipate that this would get this much attention"

At a time when Indian equity markets are escalating to new record highs, the Reserve Bank of India has warned of a possible bubble. In its annual report 2021, the cent

At a time when Indian equity markets are escalating to new record highs, the Reserve Bank of India has warned of a possible bubble.
In its annual report, the central bank has said that the sharp rally in domestic equity markets despite&nbsp;an estimated 8% contraction in FY21&nbsp;GDP&nbsp;poses the risk of a bubble.
The RBI&nbsp;noted that the benchmark index Sensex&nbsp;crossed the 50,000-mark on January 21, 2021 to touch a peak of 52,154 on February 15, 2021.&nbsp;This represents a 100% increase from the slump just before the beginning of the nationwide lockdown in&nbsp;2020 and a 68% increase over the year 2020-21.
Nifty touched an all-time high of 15,455 in the morning session on Friday.

Domestic equity markets continue to move higher with Nifty's May series ending at a record-high closing on Thursday. Here are the highlights: - Nifty gained 0.24%

Domestic equity markets continue to move higher with Nifty's&nbsp;May series ending at a record-high closing on Thursday. Here are the highlights:
- Nifty gained 0.24% to end at 15,337. Sensex&nbsp;moved a 100 points up to close at 51,115.
- Banks and IT stocks led to the gains in benchmark indices
- Shree&nbsp;Cements, SBI, Bajaj&nbsp;Auto, Kotak&nbsp;Bank and Tech Mahindra were the top gainers.
- Nifty PSU&nbsp;Bank index was up 3% as SBI, Bank of Baroda and PNB&nbsp;surged up to 7%.
- 34 out of 50 stocks in the Nifty index closed in the green

An 80% profit jump and strong asset quality has the street very impressed with State Bank of India. Brokerages across the board remain bullish raising their price targe

An 80% profit jump and strong asset quality has the street very impressed with State Bank of India. Brokerages across the board remain bullish raising their price target for India's largest bank. CLSA&nbsp;raises target Rs 650/share, implying an over 60% return on the stock. The brokerage remains bullish citing strong books with surprisingly low slippages at 0.4% in Q4. Morgan Stanley as well is betting that the bank will achieve a Rs 600/share target, Brokergae&nbsp;house Jefferies&nbsp;has raised the target for the stock Rs 520/share while maintaining a buy rating .&nbsp;

Michael Burry , popularly called the "Big Short Burry" has placed a $534 million bet against Tesla shares as per U.S. regulatory filings. Burry was one of the

Michael Burry&nbsp;, popularly called the "Big Short Burry" has placed a $534 million bet against Tesla shares as per U.S. regulatory filings. Burry&nbsp;was one of the first investors to call and profit from the subprime mortgage crisis in 2008 which is how he got his nickname on Wall Street. Elon&nbsp;Musk backed Tesla was down over 4% in Monday's trade, and is down over 20% in just the month of May. The EV maker has disappointed stockholders as Tesla's stock price has&nbsp;slumped over 30% from January high of $900.
Michael Burry&nbsp;flagged off worries with Tesla's dependence of credits from the&nbsp;govt to keep profitability going. Tesla has generated over $1.5 bn from regulatory energy credits which enabled high enough profits for inclusion in S&amp;P500.

Global gold prices surged to the highest level in over 3 months topping $1800/oz and analysts are betting that this is the start of the uptrend for the yellow metal. Te

Global gold prices surged to the highest level in over 3 months topping $1800/oz and analysts are betting that this is the start of the uptrend for the yellow metal. Technical analysts state that there is a big bullish uptrend as gold broke above it's 200 day moving average in overnight trade.&nbsp; Weakening US economic data, turmoil in cryptocurrency assets and a weaker dollar have all boosted demand for the yellow metal that has been on the investment sideline from the start of 2021.&nbsp; Precious metal prices in India as well have started to firm up with gold topping Rs 48,000/10 gm and silver near Rs 72,000/kg mark.

Dalal street cheered India's moderating Covid tally as the domestic benchmark indices logged their best single-day rally in almost two months. Nift

Dalal&nbsp;Street cheered India's moderating Covid tally as the&nbsp;domestic benchmark&nbsp;indices&nbsp;logged their best single-day rally in almost two months.
Nifty Bank surged 4% to record the biggest single-session gain since the budget day, contributing the most to a near 2% surge in Nifty and Sensex&nbsp;on Monday.
Nifty ended the session 1.67% higher at 14,923 and the Sensex&nbsp;closed 848 points higher at 49,580.
Shares of&nbsp;Hester Biosciences&nbsp;have rallied 33% in the past two trading days, after the company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from&nbsp;Bharat Biotech.

explore newslists

Markets

Markets fall following weak global markets, Fed rate talk spooks traders

Asian markets slide following US markets' 500 point crack

Adani Stock Saga: Allegation, Clarification & Confusion

Stock Radar: 5 stocks traders are buzzing about

IPO Radar: Sona Comstar, investors bet big on this Tesla supplier

Do you you have these 5 stocks on your radar?

This is why midcap PSU banks are soaring 25-30%

Nifty at record high, midcap stocks you need to watch out for

This stock is up 60% in 3 sessions, find out what's the buzz?

5 Stocks To Watch: ITC, Maruti, JSW Steel, Motherson Sumi, Ashok Ley

Stock Spotlight SBI: Stock at record high, CLSA sees 50% upside

Brokerage Bets for Tuesday's Trade: PNB Housing up another 20%

Stock Spotlight: PNB Housing locked up at 20% and more

Zerodha more than doubles profit to ₹ 1,000 cr, clarifies on ₹100 cr salary

'Risk of a bubble': RBI's warning as equity markets hit record highs

Nifty ends at record-high; PSU banks biggest gainers

Stock Spotlight: Brokerages bet big on SBI; see over 50% upside

'Big Short' Burry just bet half a billion dollars against Tesla

Gold glitters again, jumps to 3 month high as technicals signal more upside

Markets see biggest rally in two months as Covid numbers drop

follow editorji

download editorji