BUSINESS
MCX April oil futures row | Brokers discourage trade via exchange, seek margin of 200-400%
Moneycontrol has learnt that brokers are only allowing clients to square off their existing positions. In cases where clients are initiating trades, brokers are seeking 200-400 percent margin.
BUSINESS
April crude oil futures row: MCX to resume normal trading hours despite lack of negative pricing mechanism
The exchange is still struggling with the tech problem, as unlike the New York Mercantile Exchange one, its system is not equipped to take negative pricing of commodity.
BUSINESS
MCX April crude oil futures row | Brokers may challenge settlement price in HC
Brokers are upset with the settlement of April crude oil contracts at a negative Rs 2,884 per barrel by MCXCCL
BUSINESS
WTI crude oil prices sink | MCX’s clearing corporation blocks pay out to brokers
This impacts only those brokers whose traders hold long positions. To gauge the extent of the problem, around 11,000 contracts remained open at the end of the day. Market sources pegged the loss for all long positions around Rs 418 crore
BUSINESS
Sebi may restore trading hours in commodity segment
"Earlier, the situation was different. We were not able to reach office and back-end was not properly functioning, which is not the case now," a broker said on condition of anonymity.
BUSINESS
Vijay Mallya extradition: Fugitive baron can seek nod to appeal to UK Supreme Court, but chances seem bleak
For filing a case in the UK Supreme Court, Mallya needs clearance from the High Court, where he lost the case on April 20.
BUSINESS
SEBI analysing data from custodians especially from China, Hong Kong
SEBI is analysing the data of another eleven countries including Mongolia, Pakistan, Bhutan, Nepal, Afghanistan, Bangladesh, Myanmar, Taiwan, North Korea, Yemen and Iran to find out if the Chinese investment used this route and took significant stake in the company
BUSINESS
Jet Airways' founder Naresh Goyal remains scot-free despite ED, I-T investigations
The Enforcement Directorate and the I-T department have many cases against the bankrupt airline and its promoters.
TRENDS
Thinking out of the box: Thane cops turn air cooler into ‘disinfection centre’
As the country is facing an unprecedented shortage of disinfectants and hand sanitisers, the innovative system introduced by the cops gets the work done quickly and cheaply.
BUSINESS
Aptech, Khera face Enforcement Directorate probe over GDR misuse, loan fraud
The agency is probing the misuse of the GDR issue by the company under the Foreign Exchange Management Act.
BUSINESS
Broking firms registered at Gujarat GIFT City to get stamp duty refund
The state government's move is expected to attract more broking companies to the special zone.
BUSINESS
Coronavirus impact: Broking firms mull permanent shift to work from home for most staff to cut cost
The work-from-home concept adopted during the 21-day lockdown period may alter the format of the broking sector forever.
INDIA
The heroes of Bhilwara and the story of their war against COVID-19
On March 18, Bhilwara reported its first case of Coronavirus and within days there were reports that this city could become India’s next COVID-19 hotspot. That is when the local administration took action.
BUSINESS
Yes Bank case | Kapil and Dheeraj Wadhawan detained in Mahabaleshwar for violating Section 144
They were summoned by ED in third week of March but skipped summons citing the COVID-19 situation.
BUSINESS
Coronavirus Impact: COVID-19 kills Illegal ‘Dabba’ trading as lockdown forces players to down shutters
The high-risk operations have been stopped as strict restrictions on movement have forced the ‘Dabba trader’ to stop work, at least for the time being.
BUSINESS
Coronavirus pandemic | No locking down cyber crime, Maharashtra sees a 25% spike in two weeks
In Maharashtra, cyber-crime cases have gone up by 20 to 25 percent in two weeks of lockdown, officials say.
BUSINESS
Coronavirus fallout: Fruit farmers stare at a loss of Rs 7,000 crore amid nationwide lockdown
Whenever there is uncertainty about income people first think only about stocking up on essentials needed for survival and fruits don’t come under that category.
BUSINESS
Coronavirus impact | Direct tax mop-up falls 15% short of revised target
Tax officials, who have been under the cosh due to stiff collection targets, admitted that the coronavirus outbreak was primarily responsible for torpedoing collections to almost decade-old lows.
BUSINESS
Coronavirus pandemic: Commodity brokers’ body makes a U-turn, seeks trading till 11.30 pm
The Commodity Participants Association of India has written a letter to Sebi for restoring the previous timings.
BUSINESS
Coronavirus impact | Income tax collection may fall by 10%
As on March 28, the department has collected Rs 9.84 lakh crores which is 84.26 percent of the total collection.
BUSINESS
Yes Bank fraud: Rana Kapoor’s bail plea hearing adjourned until April 3
Kapoor last week applied for bail on the grounds that if he remained behind bars, he might contract COVID-19.
BUSINESS
Coronavirus lockdown: L&T defers extra pay revision to employees, cites disruption
"Most of our employees personally wanted to get associated with this social cause and hence extra salary revision that was planned from 1st March was postponed till end July,” L&T said in a statement.
WORLD
CBI and IRS latest to answer PM's COVID-19 rescue call, will donate one-day salary to PM CARES Fund
A senior CBI official told Moneycontrol, "In our organisation, everyone from junior officials to director level employees are donating their one day salary. Currently, we have more than six thousand employees all over the country."
BUSINESS
Coronavirus impact: IndiaNivesh shuts PMS business citing market volatility
The firm has said that clients had two options under which we could transfer assets to your designated bank account or demat account.
