BUSINESS
ED attaches 290 properties of GS Oil Ltd in PMLA case
Total proceeds of crime acquired by G.S. Oils Limited is Rs 306.33 crore. First attachment order was issued in 2017 and a Prosecution Complaint was also filed. This is the second provisional attachment order issued in this case. Initially a case was lodged in this respect by the CBI's Banglore branch. The ED initiated the probe of money laundering on the basis of the FIR of the CBI.
Lamborghini sales reach 400 since inception in India
Notably, the company reported a 86 per cent growth in India last year. As per the automaker, the accelerated success in sales performance is a testament of "the passion shown by Lamborghini India's dealer network in Bengaluru, Delhi and Mumbai". "We will continue to offer unique platforms so that our existing and prospective customers are able to experience the values that define the Lamborghini brand in India," said Asaid Sharad Agarwal, Head of Lamborghini India.
India's aim is to become world's largest startup destination: Minister
Addressing a session on "Gateway to Growth - Roundtable on Indian Startup Ecosystem" in Abu Dhabi, he said: "Today we are the third largest startup ecosystem, but our aspiration is to be the world's number one startup destination," as per an official statement. "The startup bug has caught India's imagination. The entire innovation ecosystem that the startup industry represents is giving a new direction, new momentum to India," he said, as per the Commerce and Industry Ministry statement.
Nothing with cryptocurrency legality, is ponzi scheme, ED to SC on Gain Bitcoin scam
Additional Solicitor General Aishwarya Bhati, representing the ED, submitted before a bench headed by Justice D.Y. Chandrachud that the "username and password are crucial in this matter. This has nothing to do with the legality of cryptocurrency" as she objected to the interim protection from arrest granted to the petitioner.
Tata Elxsi shares hit all-time high, up over 50% in 2022
Amid volatile trade, shares of IT major Tata Elxsi surged sharply on Monday to hit an all-time high. The sharp rise in share prices come amid reports that the MSCI may include the company in its standard index. The shares touched a high of Rs 9,160 during the day, and closed the session at Rs 9,010, up Rs0 6.8 per cent over the previous close.
Adani Wilmar at 10% upper circuit; shares doubled since listing
Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is among the largest FMCG companies in India. The shares of the company have seen substantial rise since the war in Ukraine broke out, as it may hit India's sunflower imports. Russia and Ukraine are the major suppliers of sunflower oil to India. As per reports, Ukraine and Russia account for 70 per cent and 20 per cent sunflower oil imports to India.
Five newly-listed firms with good long-term prospects
The brokerage house sees 25-31 per cent upside in these stocks. Clean Science and Technology is one of the specialty chemical companies which has a strong presence in global markets and it focuses entirely on developing newer technologies which are eco-friendly and cost-competitive. It has a strong customer base that includes manufacturers and distributors in China, Europe, the US, Taiwan, South Korea, Japan as well as in India.
Two-day strike hits banking, postal, other services in northeast
After over a month-long campaign, the striking employees and workers have decided to observe a strike on Monday and Tuesday in support of the their 12-point charter of demands including scrapping of the labour codes, no privatisation of government sector in any form, scrapping of the National Monetisation Pipeline, increased allocation of wages under Mahatma Gandhi National Rural Employment Guarantee Act and regularisation of contract workers.
NSE scam: Chitra Ramkrishna's judicial custody extended till April 11
Special Judge Sanjeev Aggarwal also permitted the Central Bureau of Investigation (CBI) to get Ramkrishna's handwriting specimen on probe-related grounds as the agency stressed need to investigate several digital pieces of evidence. Ramkrishna was arrested earlier this month while Anand Subramanian, the NSE's former Group Operating Officer and her advisor, was arrested in February after questioning.
Equities start week on positive note; Sensex up 231 pts
Sensex gained 0.4 per cent or 231 points at 57,593 points, whereas Nifty settled at 17,222 points, up by 0.4 per cent or 69 points. "While Indian equities showed resilience and bounced back in green following a positive European market. We can expect an ease in this volatility based on the cessation of the war, commodity prices and supply constraints," said Vinod Nair, Head of Research at Geojit Financial Services.
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