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Mint Digest: RBI expected to hike rates twice before weighing a break, govt orders investigation into Tata Nexon EV fire

Former Axis broker and fund manager Viresh Joshi sued the Axis fund for wrongful termination. Joshi was fired by the fund house on May 18, alleging ethics and code of conduct violations, Mint reported on June 16. Read more

RBI expected to raise interest rates twice before weighing a break

India’s monetary policymakers are likely to raise interest rates two more times before even considering taking a break towards the end of the year. Read more

IPS officer Dinkar Gupta appointed director general of NIA

The central government has approved the appointment of senior IPS officer Dinkar Gupta as Director General of the National Investigation Agency (NIA). Read more

Tata Nexon EV catches fire in Mumbai, Tata Motors says ‘investigate’

Tata Motors has issued a statement stating that a detailed investigation is currently underway to determine the facts of the recent isolated thermal incident which has been doing the rounds on social media. Read more

Bitcoin and Ethereum gain ground ahead of options expiration

Cryptocurrency giants such as Bitcoin and Ethereum climbed higher on Thursday as investors braced for an impending flurry of options expiries. Read more

‘Coming back, will consider leaving MVA’: Shiv Sena to rebels

The Shiv Sena is ready to consider quitting the Maha Vikas Aghadi (MVA) coalition formed with the Nationalist Congress Party (NCP) and the Congress if the rebel MPs return to Mumbai within 24 hours and have a discussion about it with the chief minister, the party said. leader Sanjay Raut on Thursday. Read more

Bombay HC rejects Dish TV plea on Yes Bank voting rights

A divisional bench of the Bombay High Court on Thursday rejected a petition by World Crest Advisors LLP, the promoter group company of Dish TV India Ltd, asking the court to prevent Yes Bank Ltd from voting at the extraordinary general meeting (AGE) of the company on June 24. Read more

Furlenco’s parent company House of Kieraya aims to become profitable by March 2023

The parent company of furniture rental company Furlenco, House of Kieraya (HoK), expects to become profitable in less than a year thanks to robust revenue streams, driven by its furniture business. Read more

Route Mobile Board Plans Share Repurchase June 28, Stock Climbs 5%

Business communications service provider Route Mobile jumped more than 5.63% to 1,162.40 each on BSE on Thursday after the company announced its board was considering buying back shares on June 28. Read more

13 MPs to meet Thackeray, rebel rank rises to 42

The political turmoil in Maharashtra appears to be far from over as Shiv Sena rebel leader Eknath Shinde has managed to win the support of 42 state MPs. Read more

It’s Official: Pine Labs Acquires API Infra Startup Setu for $70-75 Million

Fintech unicorn Pine Labs has acquired fintech application programming interface (API) infrastructure startup Setu. The deal is worth around $70 million to $75 million, Pine Labs CEO Amrish Rau said during a virtual press briefing on Thursday. Read more

Mint Mid Day Digest

Gold prices fall today for the fourth time in 5 days, silver prices see a sharp drop

Gold rates in India struggled today on expectations of aggressive rate hikes by the US Federal Reserve. On MCX, gold fell 0.23% to 50,785, its fourth decline in five days as the precious metal remained limited. Silver futures on MCX saw a steeper decline, falling 0.7% to 60,240 per kilogram. Read more

Uber has reportedly explored the sale of an Indian transport arm

Uber Technologies Inc. explored options for its Indian ride-sharing business, including a sale, but suspended talks after tech startup valuations plummeted, people familiar with the matter said. Read more

Happiest Minds shares go ex-dividend today. Details here

Happiest Minds shares will become ex-dividend shares today, with the mid-cap IT company’s board of directors setting June 24, 2022 as the record date for the dividend payment. Read more

GST board may deny application for GST rate reduction on more than 200 items

A ministerial panel will meet next week to discuss proposed changes to the Goods and Services Tax (GST) rate for more than 200 items. The panel of government officials proposed a change to the GST rate for several items, including tetra-packs, even as it rejected demands to reduce levies on 200 goods and services. Read more

RIL stock price correction is a buying opportunity: Jefferies

Shares of Reliance Industries (RIL) have corrected about 12% from their recent high. Multi-year inventories, lower Russian exports, lower Chinese exports, lower diesel production in Europe and delays in commissioning ME refineries are, according to global broker Jefferies, tailwinds to margins. refining in CY22. Read more

How companies are helping to achieve 86% of PM Modi’s climate targets by 2030

India wants non-fossil energy sources to supply half of its electricity supply by 2030. a $223 billion investment is needed, according to a new report from research firm BloombergNEF (BNEF). At COP26 in November 2021, Prime Minister Narendra Modi announced India’s plans to reduce emissions intensity by more than 45% by 2030 below 2005 levels, and called five targets of decarbonization, calling them “panchamrit”. Read more

Mint Morning Digest

Asian markets: Growth concerns boost bonds and should restrain equities

Asian markets will open on Thursday amid a rally in Treasuries that was sparked by economic concerns after Federal Reserve Chairman Jerome Powell acknowledged the risk of a recession. Read more

Govt may limit atta exports after imposing wheat ban

Wheat should not be converted into “excessive” amounts of atta for exports because wheat is a regulated commodity, Food Secretary Sudhanshu Pandey said on Wednesday, indicating a possible restriction on wheat flour exports.

India and China could buy more Russian oil than we think, says US

China and India could buy more Russian oil than the United States previously thought, easing supply shortages in global markets and could lead to a recent price drop, one of the advisers said. economics of President Joe Biden. Read more

SBI prepares to fight HDFC bank merger

State Bank of India (SBI) is taking steps to enhance the combined strength of Housing Development Finance Corp. (HDFC) and HDFC Bank, following the merger, Chairman Dinesh Khara told shareholders on Wednesday. Read more

More rate hikes in store, MPC warns of economic slowdown

More interest rate hikes are coming and the resulting spending cuts will slow the economy, members of the Reserve Bank of India’s monetary policy committee have noted, as the central bank joined in a global war on inflation. Read more

Can India become the next global manufacturing hub?

The first dialogue of the Zetwerk Smart Manufacturing Summit 2022, titled “Shaping the Future of Manufacturing: Resilience in Supply Chain”, saw a cross section of thought leaders from across the manufacturing world come together to discuss what the country needs to secure a place on the global manufacturing map, barriers to the journey, the way forward and the role of supply chain resilience.

Center Notifies Rules for Provision of TDS on Virtual Digital Assets

The Central Board of Direct Taxes (CBDT) has amended the income tax rules to clarify ways to comply with the new withholding tax (TDS) provision on virtual digital assets (VDAs) which will come into effect on July 1. Read more

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