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SEBI has identified 46 individuals using two YouTube channels who have been peddling false information to manipulate stock prices and lure investors. In the process makes crores worth of illegal gains. 

SEBI takes action against individuals using YouTube channel to manipulate stock prices

SEBI has identified 46 individuals using two YouTube channels who have been peddling false information to manipulate stock prices and lure investors. In the process makes crores worth of illegal gains.&nbsp;

Capital markets regulator SEBI has cracked down on two YouTube channels, passing interim orders against those that used these channels to manipulate stock prices and make illegal gains. Two YouTube channels run by one Manish Mishra, who was allegedly part of a larger nexus manipulating the share prices of Sadhna Broadcast Limited and Sharpline Broadcast. The two channels- &ldquo;The Advisor&rdquo; and &ldquo;Moneywise&rdquo; are accused of peddling false and misleading news recommending investors to buy the two stocks. &nbsp;
SEBI&rsquo;s interim orders came after its investigation basis complaints that alleged certain individuals were using YouTube to make certain stock recommendations, putting up false content backed by paid marketing campaigns and luring investors. Once investor&rsquo;s bought the stock and the stock price went up, those accused offloaded their holding at an inflated price, in the process, these individuals made illegal gains.&nbsp;
The total amount of illegal gains that these individuals made from the Sadhna Broadcast Limited stock is over Rs 41 crore and over Rs 12 crore from Sharpline Broadcast Limited&nbsp;
SEBI observed in one instance, in the case of Sharpline, the number of small shareholders increased from 517 to 20,019 in a period of a few months. Whereas in the case of Sharda Broadcast the number of small shareholders increased from 2167 to 55,343.&nbsp;
SEBI also noted that in one instance, both the YouTube channels recommended the same stock. The order says &ldquo;there is a high probability that the creators of the said YouTube channels may execute the same modus operandi vis-&agrave;-vis other scrips also.&nbsp;
All those named in SEBI&rsquo;s order have been banned from the securities market. The liability of the illegal gains is to be borne by the individuals. YouTube has also been directed to take down the videos.&nbsp;
Bollywood actor Arshad Warsi and his wife Maria Goretti Warsi have also been penalised in relation to the case.
&nbsp;
&nbsp;

One of the renowned stock market analysts, Ashwani Gujral passed away on Monday

Renowned stock market analyst Ashwani Gujral passes away

One of the renowned stock market analysts, Ashwani Gujral passed away on Monday

A well-known technical analyst and stock market commentator, Ashwani Gujral passed away at the age of 52 on Monday.&nbsp;
Gujral had nearly 26 years of experience in the stock market. He was also the author of many capital market-related books where he has given an insider's guide on how to trade in instruments such as equities, derivatives, futures, and options among others.
Gujaral was a regular stock market commentator on business news channels. He also had a Youtube Channel where he spoke to his viewers about market's performance and shared his outlook. His last video was 4 days ago during the monthly F&amp;O expiry on February 23, 2023.

Modi 2.0's last full budget before 2024 elections was presented in Parliament on Wednesday. We dissect the budget with leading experts. 

The India Story | Union Budget 2023: key takeaways 

It was the fifth budget of Modi 2.0 and the last full budget before the 2024 general elections. Claiming that the Indian economy is on the right path and heading towards a bright future, Finance Minister Nirmala Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure.

In this week’s episode of The India Story, we get you the latest on Budget 2023, key takeaways, views from experts and a lot more.

On the show tonight, Vikram Chandra speaks with Investment Mogul Madhusudan Kela, Tata Steel Managing Director TV Narendran, and former FICCI president Naina Lal Kidwai. Also a peak into a conversation between G20 Sherpa Amitabh Kant and Director-General of CII, Chandrajit Banerjee.

Modi government 2.0's last full budget before 2024 elections was presented in the Parliament on Wednesday. We dissect the budget with leading experts.&nbsp;

It was the fifth budget of Modi 2.0 and the last full budget before the 2024 general elections. Claiming that the Indian economy is on the right path and heading towards a bright future, Finance Minister Nirmala Sitharaman announced major changes in tax slabs under the new tax regime and big hike in allocation for railways and capital expenditure.
In this week&rsquo;s episode of The India Story, we get you the latest on Budget 2023, key takeaways, views from experts and a lot more.
On the show tonight, Vikram Chandra speaks with investment mogul Madhusudan Kela, Tata Steel Managing Director TV Narendran, and former FICCI president Naina Lal Kidwai. Also a peak into a conversation between G20 Sherpa Amitabh Kant and Director-General of CII, Chandrajit Banerjee.

Gautam Adani may overtake Jeff Bezos in the list of billionaires in the coming days. The listed companies of Adani Group have given excellent returns in the year 2022 so far.


Asia's richest Adani may overtake Bezos on World's rich list

The Adani group of companies have given a return of 1000 percent.
Adani Group are performing well in the stock market.

<ul>
<li>The Adani group companies have given a return of 1000 percent.</li>
<li>Adani Group are performing well in the stock market.</li>
<li>According to Bloomberg index Adani income nearly doubled.</li>
</ul>

The income of Asia's richest person is increasing very fast. After beating Mukesh Ambani, Warren Buffet and Bill Gates in the list of billionaires, Gautam Adani's eyes are now on the chair of Amazon chief Jeff Bezos and Tesla owner Elon Musk, Bloomberg reports.&nbsp;&nbsp;
As the listed companies of Adani Group have given excellent returns in the year 2022 so far, Gautam Adani may overtake Jeff Bezos in the list of billionaires in the coming days.&nbsp;
At the same time, investors betting on Adani Transmission stock have got returns of 400 times. All the stocks of the Adani group have given more than double profits to the investors.
The Sensex has gained 44 percent since the year 2022, while the Adani group companies have given a return of 1000 percent.
According to the Bloomberg index, during a year in which many fortunes around the world have tumble down his net worth has nearly doubled, increasing $64.8 billion to $141.4 billion and making him the third-richest person on the planet.

Central bankers from Canada to India are raising rates at an unprecedented rate as price rise continues to haunt economies with worsening inflation reports.  The tightening of liquidity and the higher cost of money has thrown markets into a bear grip as global indices tumble 20% from record highs. But what is worse for traders and portfolio - high rates or high prices? Nasser Salim Managing Partner at Flexi Capital navigates investors through these economic and market signals. 

High Rates vs High Prices: What is worse for this market?

What is worse for traders and your portfolio - high rates or high prices? Nasser Salim Managing Partner at Flexi Capital navigates investors through these economic and market signals. 

Central banks globally are confronting unprecedented inflation, prompting historic rate hikes&nbsp;

Central bankers from Canada to India are raising rates at an unprecedented rate as price rise continues to haunt economies with worsening inflation reports.&nbsp; The tightening of liquidity and the higher cost of money has thrown markets into a bear grip as global indices tumble 20% from record highs. But what is worse for traders and portfolio - high rates or high prices? Nasser Salim Managing Partner at Flexi Capital navigates investors through these economic and market signals.&nbsp;

Shares of Delta Corp surged as much as eight percent on Friday after its wholly-owned subsidiary Deltatech Gaming Ltd filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The gaming company is planning to raise Rs 550 crore through the IPO as the initial share sale will comprise of a fresh issue of Rs 300 crore and an offer for sale (OFS) of the Equity Shares held by the company, for an amount aggregating up to about Rs 250 crore.
Noteworthy, the IPO will be subject to market conditions.
Upon completion of the Offer, Deltatech Gaming will continue to be a subsidiary of Delta Corp Limited.
Delta Corp is an Indian gaming and hospitality company in India, that owns and operates casinos (live, electronic and online).
Ace investor Rakesh Jhunjhunwala held a 4.3 percent stake in Delta Corp at the end of the March quarter while his wife held a 3.18 percent stake in the company as of March 31.

Delta Corp subsidiary files for IPO; stock surges 8%

Shares of Delta Corp surged as much as eight percent on Friday after its wholly-owned subsidiary Deltatech Gaming Ltd filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

This Rakesh Jhunjhunwala-backed company files for IPO

Delta Corp is an Indian gaming and hospitality company in India, that owns and operates casinos (live, electronic and online).

Shares of Casion operator Delta Corp surged after its wholly-owned subsidiary Deltatech Gaming Ltd filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The gaming company is planning to raise Rs 550 crore through the IPO as the initial share sale will comprise of a fresh issue of Rs 300 crore and an offer for sale (OFS) of the Equity Shares held by the company, for an amount aggregating up to about Rs 250 crore.
Noteworthy, the IPO will be subject to market conditions.
Upon completion of the Offer, Deltatech Gaming will continue to be a subsidiary of Delta Corp Limited.
Delta Corp is an Indian gaming and hospitality company in India, that owns and operates casinos (live, electronic and online).
Ace investor Rakesh Jhunjhunwala held a 4.3 percent stake in Delta Corp at the end of the March quarter while his wife held a 3.18 percent stake in the company as of March 31.

Buckle up bulls as the bears are in the driving seat and it promises to be a wild ride down. Markets from Wall Street to Dalal Street feel the pain as central bankers globally take up the war against inflation and it may be a battle that only the market loses. There is a new phrase in town that is haunting traders 'GST' - Global Synchronished Tightening, making more costly and pushing a funding freeze across the glove

United States: Where it all started,reading of a 40-year high inflation has opened the doors to multiple 'big hikes'by the Fed who is not confident the rate hikes will be enough to bring inflation down. 
United Kingdown: Bank of England hiked rates for the fifth time in a row as inflation soars. 
Swiss National Bank unexpectedly increased interest rates for the first time since 2007
ECB starts taking some measures, but rate hike pushed to end July. 
Hong Kong raised rates on Thursday following Fed third such hike this year
South Korea cuts growth outlook to the slowest in 3 years, cuts corporate tax to help industry 


Explained: Falling global markets and what is the new 'GST' fear

Explained: Falling global markets and what is the new 'GST' fear for traders worldwide

Central banks globally are vowing to fight inflation with higher rates

Buckle up bulls as the bears are in the driving seat and it promises to be a wild ride down. Markets from Wall Street to Dalal Street feel the pain as central bankers globally take up the war against inflation and it may be a battle that only the market loses. There is a new phrase in town that is haunting traders 'GST' - Global Synchronished Tightening, making more costly and pushing a funding freeze across the globe.&nbsp;
Also read/watch| <a title="US markets collapse, Dow sinks 700 points to year low" href="https://www.editorji.com/business-news/markets/markets-live-updates-us-markets-collapse-dow-sinks-700-points-to-year-low-1655425366697">US markets collapse, Dow sinks 700 points to year low</a>
<ul>
<li>United States: Where it all started, reading of 40-year high inflation has opened the doors to multiple 'big hikes' by the Fed who is not confident the rate hikes will be enough to bring inflation down.&nbsp;</li>
<li>United Kingdom: Bank of England hiked rates for the fifth time in a row as inflation soars.&nbsp;</li>
<li>Swiss National Bank unexpectedly increased interest rates for the first time since 2007</li>
<li>ECB starts taking some measures, but the rate hike pushed to the end of July.&nbsp;</li>
<li>Hong Kong raised rates on Thursday following Fed's third such hike this year</li>
<li>South Korea cuts growth outlook to the slowest in 3 years, cuts corporate tax to help industry&nbsp;</li>
</ul>

As stock prices from Wall Street to Dalal Street see a meltdown, we look at the factors at play that are making traders jittery: Prices: Higher inflation rate has sparked a fresh round of fears in traders that the Fed will hike rates more than what equities have priced in. Stock markets are now looking at 75 bps hike from the US central bank that is facing 40 year high inflation. Cost of living crisis is causing central banks from ECB to RBI to fast change course of policy making money more expensive as risks of recession rises. Putin: Ever since the Kremlin decided to attack Ukraine on the 24 February 2022, the war has created multiple supply shocks from fuel to food. Crude prices now hovering around the $120/bbl mark hurting importing nations across Asia and EU. Pandemic: The covid outbreak seems to be never-ending with China starting to re-impose Covid-19 restrictions just weeks after major easing in key cities, raising concern the country may once again employ strict lockdowns to control its outbreak. Lockdowns have already roiled global supply chains and impacted the operations of global giants from Sony Group Corp. to Tesla Inc. 

Markets crash: Prices, Putin and Pandemic - the 3 pronged pain for stocks

Federal Reserve meets June 14-15 to decide on rates and present economic outlook

As stock prices from Wall Street to Dalal&nbsp;Street see a meltdown, we look at the factors at play that are making traders jittery:&nbsp; Prices: Higher inflation rate has sparked a fresh round of fears in traders that the Fed will hike rates more than what equities have priced in. Stock markets are now looking at a 75 bps hike from the US central bank that is facing 40-year high inflation. Cost of living crisis is causing central banks from ECB to RBI&nbsp;to fast change course of policy making money more expensive as risks of recession rises.&nbsp;
Also read/watch| <a title="Crypto Crash: Bitcoin prices collapse below $25,000; fall over 9% to 18-month low" href="https://www.editorji.com/business-news/crypto-crash-bitcoin-prices-collapse-below-25-000-fall-over-9-to-18-month-low-1655091654981">Crypto Crash: Bitcoin prices collapse below $25,000; fall over 9% to 18-month low</a> Putin: Ever since the Kremlin decided to attack Ukraine on the&nbsp;24 February 2022, the war has created multiple supply shocks from fuel to food. Crude prices now hovering around the $120/bbl mark hurting importing nations across Asia and EU.&nbsp; Pandemic: The covid&nbsp;outbreak seems to be never-ending with&nbsp;China starting to re-impose Covid-19 restrictions just weeks after major easing in key cities, raising concern that the country may once again employ strict lockdowns to control its outbreak. Lockdowns have already roiled global supply chains and impacted the operations of global giants from Sony Group Corp. to Tesla Inc.&nbsp;

Recession and rates are on top of the agenda as the bulls take a backseat ahead of the Federal Reserve meeting that could now push rates higher at a faster pace. Stock markets from New York to Tokyo headed lower as US inflation surged to a 40 year high and traders raised bets that US central bank will raise rates maybe by 75 bps this week. Noted economists across the US have been highlighting the risk of a recession for the world's largest economy. Markets are fearful of a recession, so stock investors are watching the bond market, which is sending fresh signals that the economy could be weakening.

Monday blues for markets, Fed fears rule; Sentiment Explained

Federal Reserve meet this week sparks global sell-off

The US central bank faces 40 year high inflation battle

Recession and rates are on top of the agenda as the bulls take a backseat ahead of the Federal Reserve meeting that could now push rates higher at a faster pace.&nbsp; Stock markets from New York to Tokyo headed lower as US inflation surged to a 40 year high and traders raised bets that US central bank will raise rates maybe by 75 bps this week.&nbsp; Noted economists across the US have been highlighting the risk of a recession for the world's largest economy.&nbsp;Markets are fearful of a recession, so stock investors are watching the bond market, which is sending fresh signals that the economy could be weakening.

US markets ended sharply lower in Thursday's trade as traders awaited inflation data to be released on Friday which will signal where the Fed goes with rates in their June meet. Tech stocks took the biggest beating as Wall Street tumbled.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38% to settle at 4,017.82, and the tech heavy Nasdaq Composite took it on the chin once again as it shed 2.75% to come in at 11,754.23.
For over two straight months, expenditures on basic and essentials— fuel, power, and grocery-store food — have all been rising at double-digit annual rates for the first time since 1981. The next set of data on prices which is due on Friday is likely to show a further surge worrying traders of more aggressive rate hikes.

US market falls sharply as inflation worries loom

US markets ended sharply lower in Thursday's trade as traders awaited inflation data to be released on Friday which will signal where the Fed goes with rates in their June meet. Tech stocks took the biggest beating as Wall Street tumbled.



Inflation data to be released on Friday which will signal where the US Fed goes with rates.

US markets ended sharply lower in Thursday's trade as traders awaited inflation data to be released on Friday which will signal where the Fed goes with rates in their June meet. Tech stocks took the biggest beating as Wall Street tumbled.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&amp;P 500 dropped 2.38% to settle at 4,017.82, and the tech-heavy Nasdaq Composite took it on the chin once again as it shed 2.75% to come in at 11,754.23.
For over two straight months, expenditures on basic and essentials&mdash; fuel, power, and grocery-store food &mdash; have all been rising at double-digit annual rates for the first time since 1981. The next set of data on prices which is due on Friday is likely to show a further surge worrying traders of more aggressive rate hikes.

In the biggest trading mistake in India so far, an unknown broking house on Thursday lost around Rs 200 to 250 crore due to a fat-finger error.
The fat-finger error hit the NSE derivates segment late on Thursday after an unknown broking house placed the order.
A fat-finger trade is an erroneous trade that happens due to pressing a wrong key on the keyboard or a mouse misclick.
On Thursday, between 2:37 and 2:39 pm, a trader sold 25,000 lots of Nifty call options at 14,000 strike at prices as low as Re 0.15, while the same contract was trading at around Rs 2,100 at that time. Reports say that two Kolkata-based brokers make windfall gains out of this incident with one richer by Rs 50 crore and the other by Rs 25 crore.
Nearly a decade ago, a trader at brokerage Emkay Global had incurred an estimated loss of Rs 60 crore as he pressed a wrong key while filling the order price and quantity in the Nifty derivatives contract.

India's biggest 'fat-finger' trade; broking house loses Rs 250 crore

A fat-finger trade is an erroneous&nbsp;trade that happens due to pressing a wrong key on the keyboard or a mouse misclick.
&nbsp;

In the biggest trading mistake in India so far, an unknown broking house on Thursday lost around Rs 200 to 250 crore&nbsp;due to a fat-finger error.
The fat-finger error hit the NSE&nbsp;derivates segment late on Thursday after an unknown broking house placed the order. A fat-finger trade is an erroneous&nbsp;trade that happens due to pressing a wrong key on the keyboard or a mouse misclick.
On Thursday, between 2:37 and 2:39 pm, a trader inadvertently punched in an intraday sell order for 25,000 contracts (12.5 lakhs shares) on the illiquid, deep-in-the-money 14,500 Nifty call option expiring on June 2. The price of that option contract (50 shares in a contract) was around Rs 2,100 per share but since the trader quoted a much lower price the share plunged from Rs 2,100 to as low as 15 paise in a matter of minutes.
Also read/watch| <a title="Explained: What is a fat finger trade and how it can make you lose crores!&nbsp;" href="https://www.editorji.com/business-news/markets/explained-what-is-a-fat-finger-trade-and-how-it-can-make-you-lose-crores-1654228204966">Explained: What is a fat finger trade and how it can make you lose crores!&nbsp;</a> Even though the traders tried to square off the pandemonium of wild swings left many out to dry. With reports now suggesting that losses topping Rs 200 cr are being reported.&nbsp; Experts opined that that NSE&nbsp;has put in place alarm systems when trades are executed much above or below prevailing prices to sight out erroneous trades. But however no alarm was raised in this case by the exchange.&nbsp;

The bear attack has gripped Wall Street but this is not the end, famed 2008 crash caller Michael Burry issued a dire warning to his Twitter followers. :As I said about 2008, it is like watching a plane crash. It hurts, it is not fun, and I’m not smiling."— Cassandra B.C. (@michaeljburry) May 24, 2022Burry's financial crisis call was immortalized in Michael Lewis’s book “The Big Short”  raised the red flag to retail traders about a year ago that the “mother of all crashes” was coming.
Burry, who as a habit deletes his tweets shot warns investor as S&P 500 has posted seven straight weekly declines, the worst losing streak since 2001. And recent data is making matters worse. New home sales data tumbled over 16% in April while prices soared.US is facing its worst inflation in 40 years along with the rest of the world and central banks are coming out guns blazing with rate hikes to attack it. 

Investor who called 2008 crash says 2022 is a plane crash

Burry's&nbsp;bet against the housing market before the 2008 financial crisis was immortalized in Michael Lewis&rsquo;s book &ldquo;The Big Short"

The bear attack has gripped Wall Street but&nbsp;this is not the end, famed 2008 crash caller Michael Burry&nbsp;issued a dire warning to his Twitter followers. :As I said about 2008, it is like watching a plane crash. It hurts, it is not fun, and I&rsquo;m not smiling."&mdash; Cassandra B.C. (@michaeljburry)&nbsp;May 24, 2022
Burry's&nbsp;financial crisis call&nbsp;was&nbsp;immortalized in Michael Lewis&rsquo;s book &ldquo;The Big Short&rdquo;&nbsp; raised the red flag to retail traders about a year ago that the &ldquo;mother of all crashes&rdquo; was coming.
Burry, who as a habit deletes his tweets shot warns investor as S&amp;P 500 has posted seven straight weekly declines, the worst losing streak since 2001. And recent data is making matters worse. New home sales data tumbled over 16% in April while prices soared.
US is facing its worst inflation in 40 years along with the rest of the world and central banks are coming out guns blazing with rate hikes to attack it.&nbsp;

Zomato, the food delivery platform, has reported a 75 percent year-on-year jump in revenues for the March quarter of the financial year 2022. However, its net loss widened to Rs 360 crore from Rs 134 crore in the corresponding quarter previous year.
Consolidated revenue from operations during the quarter under review stood at Rs 1,211.8 crore, as against Rs 692.4 crore in the year-ago period.
Also read/watch | PM Modi in Japan: Meets heads of Softbank, Suzuki, Uniqlo
Total expenses during the fourth quarter rose to Rs 1,701.7 crore as against Rs 885 crore earlier, the company said.
Gross Order Value -- the total value of orders -- grew by 6 percent quarter-on-quarter and 77 percent year-on-year to a record high of Rs 5,850 crore in Q4FY22. This was driven by healthy growth in order volumes while the average order value remained stable.
Also read/watch | FIRST LOOK at Rakesh Jhunjhunwala's Akasa Air
Morgan Stanley maintained an 'overweight' rating on Zomato shares with a target of Rs 135 as against its Monday closing near Rs 56 a scrip. It noted that the company is moving in the right direction, but needs consistent execution to meet the high expectations.

Zomato revenues grow 75%, losses widen 1.6x

Zomato reported a 75 percent growth in its revenues for the March quarter, however, its losses widened by 160 percent over the previous year.

Zomato's&nbsp;Q4FY22&nbsp;revenue stood at Rs 1,211.8 crore, as against Rs 692.4 crore in the year-ago period.

Zomato, the food delivery platform, has reported a 75 percent year-on-year jump in revenues for the March quarter of the&nbsp;financial year 2022. However, its net loss widened to Rs 360 crore&nbsp;from Rs 134 crore&nbsp;in the corresponding quarter previous year.
Consolidated revenue from operations during the quarter under review stood at Rs 1,211.8 crore, as against Rs 692.4 crore in the year-ago period.
Also read/watch | <a href="https://www.editorji.com/business-news/pm-modi-in-japan-meets-heads-of-softbank-suzuki-uniqlo-1653297656956" target="_blank">PM</a><a href="https://www.editorji.com/business-news/pm-modi-in-japan-meets-heads-of-softbank-suzuki-uniqlo-1653297656956" target="_blank"> Modi in Japan: Meets heads of Softbank, Suzuki, Uniqlo</a>
Total expenses during the fourth quarter rose to Rs 1,701.7 crore as against Rs 885 crore earlier, the company said.
Gross Order Value -- the total value of orders --&nbsp;grew by 6 percent quarter-on-quarter&nbsp;and 77 percent year-on-year to a record high of Rs 5,850 crore&nbsp;in Q4FY22. This was driven by healthy growth in order volumes while the average order value remained stable.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/first-look-at-rakesh-jhunjhunwala-s-akasa-air-1653289112679" target="_blank">FIRST LOOK at Rakesh Jhunjhunwala's Akasa Air</a>
Morgan Stanley maintained an 'overweight' rating on Zomato&nbsp;shares&nbsp;with a target of Rs 135 as against its Monday&nbsp;closing near Rs 56 a scrip. It noted that the company is moving in the right direction, but needs consistent execution to meet the high expectations.

Ever heard of anything called Zacobite? Well, none had until this company got into a contract of selling something that doesn't even exist. Yes, that's true.
On July 13, 2019, Urja Global made an announcement that it entered into an agreement with Japan-based Nippon Shinyaku for the supply of Zacobite for five years. The cost of procurement was stated at $65.5 million with Urja making a 10 percent profit.
However, a search of websites of Urja Global and Nippon Shinyaku by SEBI failed to show any mention of the word 'Zacobite'. Urja Global did not give SEBI any information about the product Zacobite based on either its own research or its past experience in dealing with Zacobite.
No information regarding Zacobite was found to be available in publicly available sources. A Google search for the term Zacobite did not return any significant result. There was no information on the internet or otherwise regarding the material or element Zacobite and its uses.
However, the only reality was a significant increase in Urja Global’s share price. Its stock rose from Rs 2.2 to Rs 3.1 after the company made the announcement of deal. Volumes rose from as low as 73,000 on July 11, 2019 to 93 lakh on July 16, 2019.
While the Japanese company has denied signing any such deal with Urja Global.
Urja Global submitted that it had fallen victim to a fraud committed by certain persons impersonating as representatives of Nippon. While the SEBI noted that the company had actively connived with such persons to create an artificial situation for making the corporate announcement dated July 13, 2019, which was false, misleading and inaccurate.
The securities market regulator has banned Urja and four of its executives from the markets for two years.

This company gets into contract of selling something that doesn't exist

This company gets into a contract of selling something that doesn't exist

What is Zacobite?

SEBI has banned Urja&nbsp;and&nbsp;four of its executives from the markets for two years.

Ever heard of anything called Zacobite? Well, none had until&nbsp;this company got into a contract of selling something that doesn't even exist. Yes, that's true.
On July 13, 2019, Urja Global made an announcement that it entered into an agreement with Japan-based Nippon Shinyaku for&nbsp;the supply&nbsp;of Zacobite for five years. The cost of procurement was stated at $65.5 million with Urja making a 10 percent profit.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/economy/lpg-price-hiked-again-cylinder-rates-cross-rs-1000-all-over-india-1652929897525">LPG price hiked again, cylinder rates cross Rs 1,000 all over India</a>
However, a search of websites of Urja Global and Nippon Shinyaku by SEBI failed to show any mention of the word 'Zacobite'. Urja Global did&nbsp;not&nbsp;give SEBI any information about the product Zacobite based on either its own research or its past experience&nbsp;in&nbsp;dealing with Zacobite.
No information regarding Zacobite&nbsp;was&nbsp;found to be available in publicly available sources. A Google search for the term Zacobite did not return any significant result. There was no information on the internet or otherwise regarding the material or element&nbsp;Zacobite and&nbsp;its&nbsp;uses.
However, the only reality was a significant increase in Urja Global&rsquo;s share price. Its stock rose from Rs 2.2 to Rs 3.1 after the company made the announcement of deal. Volumes rose from as low as 73,000 on July 11, 2019 to 93 lakh on July 16, 2019.
While the Japanese company has denied signing any such deal with Urja&nbsp;Global.
Urja&nbsp;Global submitted that it had fallen victim to a fraud committed by certain persons impersonating as representatives of Nippon. While the SEBI&nbsp;noted&nbsp;that the company had actively connived with such persons to create an artificial situation for making the corporate announcement dated July 13, 2019, which was false, misleading and inaccurate.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/economy/supreme-court-ruling-gst-council-is-not-supreme-court-ruling-gst-council-recommendations-are-not-binding-on-states-on-states-1652940717013" target="_blank">SC says GST Council recommendations are not binding on States</a>
The securities market regulator has banned Urja&nbsp;and&nbsp;four of its executives from the markets for two years.

This week we saw the U.S. Federal Reserve increasing the key rates by 50 basis points and just one day before the Reserve Bank of India, in an unexpected and shocking way, also announced a 40 bps hike. 
The Indian central bank sent the markets deep into the red, while the U.S. Fed delivered as per the market expectations.
Editorji speaks to Sanket Kapoor, Managing Partner at Flexi Capital, and discusses the rate hikes, inflation, and the way forward for the stock markets, global and domestic.

Risks vs Rates: Market mood and the way forward with Flexi Capital

From tantrums to tolerance we explore the new market reality with insights from Flexi Capital.

EJ Money Matters

The U.S. Federal Reserve braced the market for over a year of a turn in the rate cycle.

This week we saw the&nbsp;U.S. Federal Reserve increasing the key rates by 50 basis points and just one day before the Reserve Bank of India, in an unexpected and shocking way, also announced a 40 bps hike.&nbsp;
The Indian central bank sent the markets deep into the red, while the U.S. Fed delivered as per the market expectations.
Editorji&nbsp;speaks to Sanket&nbsp;Kapoor, Managing&nbsp;Partner at Flexi&nbsp;Capital, and discusses the rate hikes, inflation, and the way forward for the stock markets, global and domestic.

Rainbow Children's Medicare IPO got subscribed 29 percent on the first day of the public offer on Wednesday.
The category for retail investors received 48 percent subscription, while the non-institutional investors' quota was subscribed 11 percent and the Qualified Institutional Buyers (QIBs) segment got 10 percent subscription.
IPO Details:
The offer has a price range of Rs 516-542 apiece. The current grey market premium on the share price is Rs 20, which is close to 5 percent of the issue price.
The issue is open from April 27 to 29.
On Tuesday, the multi-speciality pediatric hospital chain said it garnered nearly Rs 470 crore from anchor investors.
At the upper end of the price band, the IPO is expected to fetch Rs 1,581 crore.
The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures in full, capital expenditure towards setting up new hospitals and purchase of medical equipment, and general corporate purposes.
About the company:
Rainbow Children's Medicare, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad. Since then, it has established its reputation as a leader in multi-speciality pediatric services, with strong clinical expertise in managing complex diseases. As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a total bed capacity of 1,500 beds.

Rainbow Children's Medicare IPO: Last day of offer today

Rainbow Hospitals has opened its public offer and the issue is subscribed 29% on day 1.

Rainbow Children's Medicare IPO

The offer&nbsp;has a price range of Rs 516-542 apiece. The current grey market premium on the share price is Rs 20, which is close to 5 percent of the issue price.

Rainbow Children's Medicare IPO got subscribed 29 percent on the first day of the public offer on Wednesday.
The category for retail investors received 48 percent subscription, while the non-institutional investors' quota was subscribed 11 percent and the Qualified Institutional Buyers (QIBs) segment got 10 percent subscription.
<h3>IPO&nbsp;Details:</h3>
The offer&nbsp;has a price range of Rs 516-542 apiece. The current grey market premium on the share price is Rs 20, which is close to 5 percent of the issue price.
The issue is open from April 27 to 29.
On Tuesday, the multi-speciality pediatric hospital chain said it garnered nearly Rs 470 crore from anchor investors.
At the upper end of the price band, the IPO is expected to fetch Rs 1,581 crore.
The company proposes to utilise the net proceeds from the fresh issue for early redemption of non-convertible debentures in full, capital expenditure towards setting up new hospitals and purchase of medical equipment, and general corporate purposes.
<h3>About the company:</h3>
Rainbow Children's Medicare, backed by UK-based development finance institution CDC Group plc, established its first 50-bed pediatric speciality hospital in 1999 in Hyderabad.&nbsp;Since then, it has established its reputation as a leader in multi-speciality pediatric services, with strong clinical expertise in managing complex diseases. As of December 20, 2021, Rainbow operates 14 hospitals and three clinics in six cities in India, with a total bed capacity of 1,500 beds.

As edible oil prices are double-hit by Ukraine, earlier, and now Indonesia, Editorji lists down 5 edible oil stocks that will remain in focus:
1. Adani Wilmar: Shares were up 4 percent at the time of writing this. Adani Wilmar is the largest edible oil stock on the Indian exchanges as per the market capitalisation. Adani Wilmar is the parent company of the popular edible oil brand Fortune under which it offers soyabean oil, palm oil, sunflower oil, etc.
2. Ruchi Soya: Baba Ramdev-owned Ruchi Soya is the largest manufacturer of edible oil in India. Ruchi Soya Industries Limited is engaged primarily in the business of processing oilseeds and refining crude oil for edible use.  Its brands include Nutrela, Mahakosh, Sunrich, Ruchi Gold and Ruchi No.1.
3. Gujarat Ambuja Exports Ltd: Shares were trading higher as the company is engaged in the manufacturing of corn starch derivatives, soya derivatives, feed ingredients, cotton yarn, and edible oils.
4. Agro Tech Foods Ltd: Agro Tech Foods Ltd is primarily engaged in the business of manufacturing and trading of edible oils and food products.
5. Gokul Agro Resources Ltd: Stocks were locked in an upper circuit. Gokul Agro is one of India's prime processors and manufacturers of various edible and non-edible oil and allied products.

Top edible oil stocks to watch out for in India

With edible oil prices set to surge, Editorji lists down the top edible oil company stocks in India.

Edible oil companies

Indonesia has put a ban on exports of palm oil which is going to hit the top exported and consumer in the world, India.

As edible oil prices are double-hit by Ukraine, earlier, and now Indonesia, Editorji&nbsp;lists down 5 edible oil stocks that will remain in focus:
1. Adani&nbsp;Wilmar: Adani&nbsp;Wilmar&nbsp;is the largest edible oil stock on the Indian exchanges as per the market capitalisation. Adani&nbsp;Wilmar&nbsp;is the parent company of the popular edible oil brand Fortune under which it offers soyabean oil, palm oil, sunflower oil, etc. Shares of Adani&nbsp;Wilmar&nbsp;are up over 180 percent in one year.
2. Ruchi&nbsp;Soya: Baba&nbsp;Ramdev-owned&nbsp;Ruchi Soya is the largest manufacturer of edible oil in India.&nbsp;Ruchi Soya Industries Limited is engaged primarily in the business of processing oilseeds and refining crude oil for edible use. Its brands include Nutrela, Mahakosh, Sunrich, Ruchi Gold, and Ruchi No.1.
3.&nbsp;Gujarat Ambuja Exports Ltd: The company&nbsp;is engaged in the manufacturing of corn starch derivatives, soya derivatives, feed ingredients, cotton yarn, and edible oils.
4.&nbsp;Agro Tech Foods Ltd:&nbsp;Agro Tech Foods Ltd is primarily engaged in the business of manufacturing and trading of edible oils and food products.
5.&nbsp;Gokul Agro Resources Ltd:&nbsp;Gokul&nbsp;Agro&nbsp;is one of India's prime processors&nbsp;and manufacturers of various edible and non-edible oil and allied products.

The government may be looking to cut down the size of Life Insurance Corporation or LIC&nbsp;IPO&nbsp;size by 40%.
As per reports, the government could cut down LIC&nbsp;IPO&nbsp;size to Rs 30,000 crore&nbsp;from Rs 50,000 - 55,000 crore&nbsp;previously estimated.
A Bloomberg report cites the Russia Ukraine war as the primary reason for cutting down the size as the geopolitical situation has put a dent in the valuations.
The report also stated that India's biggest IPO&nbsp;could be listed in the next two weeks.
As recently as April, Prime Minister Narendra Modi&rsquo;s administration was looking to raise Rs 50,000 crore&nbsp;by selling as much as 7 percent of LIC. The stake sale now could be a little over 5 percent on muted demand from investors.
The government, last week, amended the rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 percent foreign direct investment in the insurance behemoth LIC.
LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator SEBI for the IPO. Last month, Sebi gave approval to the draft papers.
LIC&nbsp;IPO would be bigger than One 97 Communications which raised about Rs 18,300 crore&nbsp;in November and is known to be the biggest Indian IPO&nbsp;till date.
Firms in India have raised about $1.1 billion through IPOs this year, data compiled by Bloomberg show. That&rsquo;s less than half of the nearly $3 billion raised in the same period in 2021.

LIC IPO size could be decreased; valuations suffer due to Russia Ukraine war

LIC IPO size could be cut down by 40 percent from Rs 55,000 crore to just Rs 30,000 crore as valuations take a hit due to the ongoing Russia Ukraine war.

LIC IPO size

The government could cut down by 40% the size of LIC&nbsp;IPO&nbsp;as the war between Russia and Ukraine has put a dent in the valuations. The government could now be tapping the markets for Rs 30,000 crore, significantly less than Rs 50,000 crore&nbsp;estimated earlier. Also, India's biggest IPO&nbsp;could list in the next two weeks. Earlier, the government was planning to sell around 7 percent stake, which would now just be 5 percent.

LIC&nbsp;IPO would be bigger than One 97 Communications which raised about Rs 18,300 crore&nbsp;in November and is known to be the biggest Indian IPO&nbsp;till date.

The government may be looking to cut down the size of Life Insurance Corporation or LIC&nbsp;IPO&nbsp;size by 40%.
As per reports, the government could cut down LIC&nbsp;IPO&nbsp;size to Rs 30,000 crore&nbsp;from Rs 50,000 - 55,000 crore&nbsp;previously estimated.
A Bloomberg report cites the Russia Ukraine war as the primary reason for cutting down the size as the geopolitical situation has put a dent in the valuations.
The report also stated that India's biggest IPO&nbsp;could be listed in the next two weeks.
As recently as April, Prime Minister Narendra Modi&rsquo;s administration was looking to raise Rs 50,000 crore&nbsp;by selling as much as 7 percent of LIC. The stake sale now could be a little over 5 percent on muted demand from investors.
The government, last week, amended the rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 percent foreign direct investment in the insurance behemoth LIC.
LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator SEBI for the IPO. Last month, Sebi gave approval to the draft papers.
LIC&nbsp;IPO would be bigger than One 97 Communications which raised about Rs 18,300 crore&nbsp;in November and is known to be the biggest Indian IPO&nbsp;till date.
Firms in India have raised about $1.1 billion through IPOs this year, data compiled by Bloomberg show. That&rsquo;s less than half of the nearly $3 billion raised in the same period in 2021.

Raging fuel prices to mixed signals from global markets Editorji brings you the latest in business and market news on March 30: Fuel On Fire Fuel prices up for the eighth time in nine days with prices rising over 80 paise across the country. Diesel prices in Mumbai cross the 100 mark, while Petrol in the city of joy soars past Rs 110/lt. Market Mood & Russia War Russia: To 'drastically reduce military activity' in Kyiv & Chernihiv. The statement put the global markets at ease as US markets rallied overnight, crude prices hover above the $105/bbl mark.Mega Crypto HeistHackers stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date.Biyani Defaults on LoanFuture Enterprises Ltd (FEL) said it has defaulted on payment of Rs 19.16 crore to Punjab National Bank, Canara Bank and Union Bank of India under the one-time restructuring plan. The group's leading company Future Retail Ltd defaulted on payment of Rs 3,494.56 crore to banks in January.Ambani vs AmazonThe BCCI has issued media rights tender for the 2023-27 IPL seasons and an e-auction will take place from June 12. There is likely to be a bidding war between Star, Sony-Zee, Ambani backed TV18/Viacom18 and Amazon with the digital space putting up aggressive bids. 

Business News Live: Top market headlines on March 30

Raging fuel prices to mixed signals from global markets Editorji brings you the latest in business and market news on March 30: 

Top market headlines on March 30 

The latest from global markets to domestic economy and stocks in action

Raging fuel prices to mixed signals from global markets Editorji&nbsp;brings you the latest in business and market news on March 30:&nbsp; <a href="https://www.editorji.com/business-news/fuel-price-hike-by-80-paise-again-1648604558197">Fuel On Fire&nbsp;</a> Fuel prices up for the eighth time in nine days with prices rising over 80 paise&nbsp;across the country. Diesel prices in Mumbai&nbsp;cross the 100 mark, while Petrol in the city of joy soars past Rs 110/lt.&nbsp; Market Mood &amp; Russia War&nbsp; Russia: To 'drastically reduce military activity' in Kyiv &amp; Chernihiv. The statement put the global markets at ease as US markets rallied overnight, crude prices hover above the $105/bbl mark. <a href="https://www.editorji.com/business-news/cryptocurrency/big-crypto-heist-600-million-stolen-by-hackers-from-online-game-1648609982715">Mega Crypto&nbsp;Heist</a> Hackers stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date. Biyani&nbsp;Defaults on Loan Future Enterprises Ltd (FEL) said it has defaulted on payment of Rs 19.16 crore to Punjab National Bank, Canara Bank and Union Bank of India under the one-time restructuring plan.&nbsp;The group's leading company Future Retail Ltd defaulted on payment of Rs 3,494.56 crore to banks in January. Ambani&nbsp;vs Amazon The BCCI has issued media rights tender for the 2023-27 IPL seasons and an e-auction will take place from June 12. There is likely to be a bidding war between Star, Sony-Zee, Ambani&nbsp;backed TV18/Viacom18 and Amazon with the digital space putting up aggressive bids.&nbsp;

Share Markets: 2-year absolute return from March 23, 2020
Sensex: 122%Nifty: 127%
Metals ShiningHindalco 605%Tata Steel: 400%JSW Steel: 395%
Tech Connect Infosys 259%Wipro 250%Tech Mah 217%
Bajaj Twins Bajaj Finserv: 255%Bajaj Finance: 209%
House of TataTata Motors: 555%Tata Steel: 400%Titan 236%TCS: 122%
Adani vs AmbaniAdani Ports: 253%Reliance Ind: 190%

2020 Stock Market Crash: Shares increase up to 600% in 2 years

29 stocks have more than doubled in Nifty in the last 2 years.

Covid warrior stocks: 400% plus returns in 2 years, did you invest?

Stocks like Hindalco and Tata&nbsp;Motors have turned the investments six times.

It has been two years since the market hit a 'covid&nbsp;low' on March 23, 2020. Since that day&nbsp;red letter day investment portfolios have grown healthy and how for some investors. As per a research report from Motilal&nbsp;Oswal&nbsp;29 stocks have more than doubled in Nifty (some cyclicals like Hindalco/Tata Motors up 6-7x from the bottom). Commodities have drawn the top honors (and not just front-ended returns of Mar&rsquo;20-Mar&rsquo;21 but even trailing 12 month returns are strong) while HUL has emerged as the worst performing stock in the Nifty with absolute 6% returns since Mar&rsquo;20 bottom. IT, Oil &amp; Gas, select financials like Bajaj Twins and select discretionary like Titan dominate the Top performers. Here is a snapshot of how markets have delivered from that fateful day of March 23, 2020 
Market Moves Sensex: 122% Nifty: 127%
Metals Shining Hindalco: Up&nbsp;605% Tata Steel:Up 400% JSW Steel: Up 395%
Tech Connect Infosys:&nbsp;Up&nbsp;259% Wipro:&nbsp;Up&nbsp;250% Tech Mah:&nbsp;Up&nbsp;217%
Bajaj Twins Bajaj Finserv: Up 255% Bajaj Finance: Up 209%
House of Tata Tata Motors: Up 555% Tata Steel: Up 400% Titan Up 236% TCS: Up 122%
Adani vs Ambani Adani Ports: Up 253% Reliance Ind: Up 190%

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