Top headlines today: Fraudulent transactions at DHFL, Sebi notice, and more
Once nearly half, China’s market capitalisation is now 5x India’s
The combined market capitalisation (m-cap) of Chinese companies touched the $10-trillion mark again, after a gap of five years, on Wednesday. China’s m-cap stands at 4.8x that of India, a gap that could expand to record levels following the stock market debut of Alibaba-backed Ant Financial. Read More.
Centre, states to share cost of Rs 3-trillion discom reform scheme
The new ‘reform-linked distribution scheme’, aimed at overhauling the power distribution sector and building robust supply infrastructure, will subsume all existing schemes into it, with the cost being shared between the Centre and states. Read More.
New orders and execution likely to remain subdued in Q2, say analysts
Tendering and project award activity for the capital goods and engineering sector has almost doubled in July from a year ago. Despite the rise, analysts expect the July-September quarter to be a tough one —both for new orders and execution. Read More.
Towards a new India: New e-health database rolls out via pilot projects
India’s ambitious national digital health ecosystem is all set to roll with pilots starting in some parts of the country. The National Digital Health Mission (NDHM) will give every Indian citizen (voluntary participation) a unique health ID, control over their health data, digital personal health records, and a registry of doctors as well as health facilities. Read More.
Sebi orders nearly Rs 40-crore recovery from two dozen defaulters
The Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of two dozen defaulters in the matters of three companies — Mass Infra Realty, Skymarg Agro Industries India, and Life Care Real Developers — to recover dues totalling nearly Rs 40 crore. Read More.
TVS Motor infuses additional Rs 30 cr in Ultraviolette Automotive
TVS Motor has infused an additional Rs 30 crore in Ultraviolette Automotive, an electric mobility solution provider. This investment is part of the latest round (Series B) of funding by the company. Read More.
DHFL auditors discover fraudulent transactions worth Rs 14,046 cr
Transaction auditors appointed by the administrator of Dewan Housing Finance Corporation Ltd (DHFL) to investigate the affair of the company in its initial report has found certain transactions were fraudulent in nature. Read More.
