Moneycontrol Daily: Your Essential 7

Even though the recent rally in the market has been broad-based, small-cap stocks have been outperforming their larger peers, hinting that investors see growth coming from smaller companies. Since June 20, 2022 when the market hit the most recent bottom, the BSE Smallcap index has rallied nearly 18 percent. In comparison, the BSE Sensex has gained 13 percent and the BSE Midcap 16 percent in the same period. A cursory glance at the data shows outperformance is not centred on a single sector but across industries. Read here.

Today
Muharram festival - the beginning of Islamic New year
Maharashtra cabinet expansion to take place
Kenya goes to polls to elect next president
OnePlus Ace Pro launch
Moto G32 launch
Asteroid OC4 to fly close to earth Tomorrow
Delhi University to organise 'Tiranga Yatra'
ICAI to release CA Foundation result
2022 Hyundai Tucson launch
Samsung Galaxy Z Fold 4 launch
Tecno Camon 19 Pro 5G India launch

The public disagreement through a barrage of tweets between Binance CEO Changpeng Zhao (known as CZ) and WazirX CEO Nischal Shetty started a few hours after ED issued a statement that it will freeze WazirX's bank assets worth over Rs 64 crore, after it was allegedly being involved in assisting illegal Chinese lending apps make cross-border payments using crypto tokens through its network, violating Foreign Exchange Management Act (FEMA). As the clash between WazirX and Binance escalates, a senior executive from the latter revealed that WazirX has been avoiding to pass on full ownership of its assets to Binance for the past two years. The global cryptocurrency trading platform will not engage with WazirX in the future. Binance will also request Indian users to move their assets officially to Binance.com, in an announcement expected shortly. Read more here.

For home loan borrowers, the golden phase of low-interest rates during the Covid pandemic is well and truly over. With the Reserve Bank of India (RBI) announcing a 50 basis-point (bps) repo rate hike on Friday, aimed at curbing inflation, the repo is back to the pre-pandemic level of 5.40 percent. The cumulative repo rate hike between May and August stands at 140 basis points. What to do when borrowers feel the heat of the hike. Read here.

More than 22,000 start-up employees have lost their jobs this year following an economic meltdown. However, moving against the tide, some companies are actively reaching out to laid-off employees for open roles.  Read here to know more.

Royal Enfield launched its brand new Hunter 350, a ‘two-wheeled double-espresso’ of motorcycles in Bangkok yesterday on August 7. According to the release, the new Hunter 350 is a remixed roadster with the character of a Royal Enfield reimagined in a stylish, compact-yet-muscular geometry, that can tackle crowded city streets, suburban backroads and beyond, with aplomb. Know price and other details here.

Motorola is launching a new G series smartphone in India soon. After confirming the arrival of the Moto G32 in India on August 9, Motorola now revealed that the Moto G62 is also debuting in India this week, albeit with a better chipset. Price, specifications & all you need to know here.