Mo rules, mo margin
Good morning people
New margin rules are here. The final phase of SEBI’s margin requirements are set roll out this am. What does this mean for you?
Funds credited after selling holdings cannot be used to purchase equity of another co on the same day
You can sell equity only after receiving delivery from the DP i.e only on day T+2
Selling eq from your holdings will also require an upfront margin in cash
Markets at a glance
Markets across the globe are reacting positively despite the FED making it’s stance clear about Tapering sooner rather than later. Nifty50 zoomed to 17K, making it the fastest 1000 point haul in NSE history. Taking only 28 days to reach the mark.
What’s making headlines?
Engineering solution provider based out of Chennai, Thejo Engineering (NSE: -0.93%) is issuing 2 : 1 bonus shares (MC)
Nazara Technologies (NSE: +1.08%) acquired Hyderabad based OpenPlay for ₹186 Cr (MC)
India recorded a stellar growth of 20% in it’s GDP during Q1FY22 (Mint)
In an unprecedented move, the SC of India added 9 judge’s at the same time (FP)
CR7 is back at Manchester United! He’s slated to draw the highest-ever Prem salary, at a jaw-dropping £560K or about ₹5.6 Cr a week (BBG)
Where’s the money flowing?
In one of India’s biggest FinTech deals, PayU has acquired Indian digital payments provider BillDesk for a stunning $4.7 Billion (BS)
OTO, a platform which provides lease like financing options for purchasing two-wheelers in India has raised $6 Million (Inc42)
Scaler Academy, acquired Delhi based online learning provider Coding Elements in a cash deal worth about ₹8 Cr (BI)
More news?
Zomato’s recent ad with Hritik received a thrashing from netizens (Inc42)
BJP disclosed ₹2,643 Cr as income from unknown sources. The figure is close to 71% of the aggregate collection from unknown sources of all political parties (FE)
Tesla received approval to make or import 4 of it’s cars in India (BS)
GPay set to offer FD’s in partnership with Equitas Small Fin Bank. Currently under beta testing (DD)
Apple may reveal the iPhone 13 range on Sept 14 (Tech2)
The “forever war” has ended! The last American military flight took off and it’s troops departed Afghan (FP)