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Bloomberg Quint
13h
43
Image Credit: Bloomberg Quint
Centre Notifies Updated Movie Certification Age Ratings
- The Ministry of Information and Broadcasting has notified updated movie certification age ratings, promoting age-appropriate viewing.
- The rules now include categories like 'U/A 7+', 'U/A 12+', and 'U/A 16+' for certification of films based on age groups with parental guidance.
- Previous categories included U for unrestricted public exhibition and A for adult audiences, but the latest update introduces age-specific classifications.
- Last year, the Central Board of Film Certification revamped the film certification system to align with social values and ensure age-appropriate content for viewers.
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Bloomberg Quint
13h
94
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Adani Group Outlines Transport Network In Rebuild Of Mumbai Slum
- Adani Group plans to build a transportation network in the Dharavi redevelopment project in Mumbai to include rail, road, and airport transit facilities at a single location, with a focus on airport trains and check-in services.
- The transportation hub will feature facilities for travelers to and from Mumbai and Navi Mumbai airports, managed by the Adani Group, with plans for inter- and intra-city rail, metro services, and city buses.
- The redevelopment project includes the acquisition of 256 acres of salt-pan land in Mumbai, with approvals for the master plan granted by the Maharashtra state government, aiming to revamp Dharavi, one of Asia's largest slums.
- Additional plans for the project consist of developing a riverfront promenade along the Mithi River, healthcare and hospital networks, green spaces, industrial zones, and community recreational areas as part of the revitalization efforts.
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Bloomberg Quint
13h
232
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Nifty In Technical Charts: Bank Breakout Likely
- The Nifty index has been in consolidation mode for the last 25 sessions but shows signs of moving higher after an uptick on Friday.
- The previous advice to reduce activity and wait for trades to come to you rather than chasing them turned out to be good as the market didn't see significant movement for two weeks.
- For options sellers, it was suggested to get active, which worked out well as the markets remained in a range during that period.
- The technical charts indicate a possible breakout in the banking sector, hinting at a potential upward movement.
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Bloomberg Quint
14h
18
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RBI Repo Rate Decision, Key Economic Data, SME IPOs — The Week Ahead
- The Reserve Bank of India (RBI) decision on the Repo rate is the highlight for the upcoming week, signaling monetary policy.
- Key economic data releases along with SME IPOs are expected, while there are no Mainboard IPOs lined up.
- Benchmark equity indices closed lower, marking the Nifty fall for two consecutive weeks due to market volatility.
- RBI's decision on the benchmark interest rate is a crucial domestic event this week, forecasted at 5.75%.
- Important economic data like Manufacturing PMI and Services PMI are scheduled for release in India.
- Globally, the US Manufacturing PMI and the European Central Bank's interest rate decision will be watched closely.
- Corporate actions include Coforge's stock split, dividend payouts by various companies, and other corporate events.
- In the primary market, no Mainboard IPOs are scheduled while two SME IPOs, 3B Films and Ganga Bath Fitting, are set to open.
- 3B Films IPO aims to raise about Rs 33.75 crore, while Ganga Bath Fitting plans to raise over Rs 30 crore through its IPO.
- Overall, the week ahead is packed with significant events in the financial and IPO sectors, both domestically and globally.
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Bloomberg Quint
14h
189
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Bonus Issues To Watch This Week—Shalibhadra Finance, Shilchar Technologies
- Shalibhadra Finance Ltd. and Shilchar Technologies Ltd. are set to allocate bonus issues of shares to their stakeholders, ahead of their respective record dates next week.
- Investors should pay attention to the record date to be eligible for bonus shares. Only those who hold the shares in their demat account as of the record date will qualify for the bonus allotment.
- Under India's T+1 settlement cycle, investors must buy the shares at least one trading day before the record date to be eligible for the bonus issue.
- Shalibhadra Finance is issuing bonus shares in the ratio of 3:1 with a face value of Rs 10 each, with the record date on June 4. Shilchar Technologies is issuing bonus shares in the ratio of 1:2 with a face value of Rs 10 each, and the record date is set for June 6.
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Bloomberg Quint
2h
261
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DailyHunt And Builder.ai Parent Faked Business With Indian Firm VerSe To Inflate Sales, Sources Say
- Builder.ai, a startup that recently announced bankruptcy plans, allegedly faked business with VerSe Innovation in India to inflate sales figures, as per Bloomberg and sources.
- The two companies engaged in 'round-tripping,' billing each other for products and services that were not provided, misleading investors about revenue.
- VerSe co-founder Umang Bedi denied the allegations, stating his company does not inflate revenues, and services exchanged were verified.
- Builder.ai, valued at $1.5 billion, faced financial scrutiny and reportedly overstated sales, leading to creditor actions and a planned bankruptcy.
- Builder.ai collected $60 million from VerSe for services, and both companies exchanged funds, seemingly balancing invoices to avoid suspicion.
- Followed by discrepancies in sales reporting, Builder.ai's CEO Sachin Dev Duggal stepped down, and the company decided to enter insolvency.
- VerSe, known for Dailyhunt and Josh apps, raised substantial funds, faced internal control issues per Deloitte, and aims to break even by late 2025.
- Auditor concerns over VerSe's controls and CFO resignation ahead of an IPO highlighted potential challenges in the company's financial management.
- Builder.ai and VerSe's collaboration, investors like Microsoft, and plans for an IPO raise questions about governance and financial practices.
- Despite public interactions between Duggal and Bedi, including investments and events, they clarify a professional rather than a close personal relationship.
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Bloomberg Quint
3h
244
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Trump's Claims Of Peacemaking And Emerging US-India-Pakistan Scenario
- Trump's insistence on portraying himself as a peacemaker by claiming credit for brokering the India-Pakistan ceasefire has been refuted by India, leading to questions about his motives.
- Former National Security Advisor John Bolton attributes Trump's behavior to his habit of taking credit for everything, regardless of the actual circumstances.
- While Trump's efforts to resolve conflicts in Russia-Ukraine and Israel-Hamas have not been successful, he seized the opportunity to highlight his role in the India-Pakistan ceasefire.
- Despite Trump's claims, India maintains that military discussions, not trade leverage, led to the ceasefire, with no involvement from the US.
- Trump's offer to mediate on the Kashmir dispute was welcomed by Pakistan but rejected by India, emphasizing its stance on Kashmir and self-determination.
- Reports suggest Trump's shifting stance on Pakistan might be influenced by potential business deals and interests in cryptocurrency ventures, raising concerns about conflicts of interest.
- The evolving dynamics between Trump, Pakistan, and India could impact US-India relations, which are characterized by strategic interests, economic cooperation, and cultural exchange.
- Challenges like trade imbalances, geopolitical differences, and Trump's diplomacy style may pose obstacles to Indo-US ties despite shared goals of defense partnership and increased trade.
- The future direction of US-India relations may face additional hurdles depending on how Trump's engagement with Pakistan unfolds and its implications on regional dynamics.
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Bloomberg Quint
11h
17
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Once Upon A Time In Hollywood Sequel Adds Actors Scott Caan And Elizabeth Debicki To Cast
- Actors Scott Caan and Elizabeth Debicki will feature in a sequel to Quentin Tarantino's 2019 film 'Once Upon a Time in Hollywood'.
- The sequel, directed by David Fincher, will see Brad Pitt reprising his role alongside the new cast members.
- The plot details and character roles for the sequel have not been revealed, but it is set in a later time period than the original film.
- Production for the sequel is scheduled to begin in July, following the success of the first film which also starred Leonardo DiCaprio and Margot Robbie.
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Bloomberg Quint
11h
323
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Covid-19 Cases: Karnataka Health Department Issues Advisory For Health Workers And General Public
- Amid a surge in Covid-19 cases in Karnataka, the Department of Health and Family Welfare Services issued an advisory to Health Care Workers to stay vigilant and work with health authorities.
- The health department emphasized on early detection, containment of outbreaks, and monitoring of variants through integrated surveillance, highlighting the importance of adherence to public health guidelines.
- Healthcare personnel were reminded of the high risk of acquiring Covid-19 if they do not follow proper protection protocols while managing patients, and they were directed on essential action points for screening and testing.
- The advisory also emphasized on infection control measures, promotion of community hygiene practices, and the use of appropriate PPE by healthcare workers to prevent the spread of Covid-19.
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Bloomberg Quint
13h
43
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Karnataka Raises Legal Age For Tobacco Products Purchase From 18 To 21, Increases Violation Fine
- Karnataka government raises the legal age for buying tobacco products from 18 to 21 years and increases the fine for violations under the Cigarettes and Other Tobacco Products Act.
- The notification was issued on May 30, following the Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply and Distribution) (Karnataka Amendment) Bill, 2024.
- The Act prohibits tobacco use in public places, defines 'use' as smoking and spitting of tobacco, and prohibits the opening or running of hookah bars under section 4A.
- The Act also restricts the sale of cigarettes or other tobacco products to individuals under the age of twenty one years and within one hundred meters of any educational institution.
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Bloomberg Quint
13h
119
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Active Covid-19 Cases In India Increase To 3,395
- The number of active Covid-19 cases in India has increased to over 3,000, with Kerala having the highest count at 1,336 followed by Maharashtra and Delhi.
- Four deaths have been reported in the country in the last 24 hours - one each in Delhi, Kerala, Karnataka, and Uttar Pradesh.
- Official sources are closely monitoring the Covid-19 situation in India, stating that most patients are under home care and the severity of infections is low.
- Covid-19 cases have been rising in India, with Kerala, Maharashtra, Delhi, Gujarat, Karnataka, West Bengal, Tamil Nadu, and Uttar Pradesh having significant active cases.
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Massivelyop
13h
21
MMO Hype Train: I need Outbound’s cozy van life, and I need it now
- Outbound is a multiplayer simulation game set for a 2026 launch, offering players the experience of driving camper vans with unique abilities like expanding into larger structures.
- Players will explore landscapes, collect recipes, craft items, and interact with other players in a co-op setting, resembling 'Van Life: The Game.'
- The game received nearly $300,000 in Kickstarter funding and is currently in alpha testing, drawing comparisons to other titles like Palia and Firewatch for its gameplay style and visuals.
- Anticipation is high for Outbound, with hopes that it will provide an engaging experience for fans of exploration, building, and virtual camping.
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Bloomberg Quint
13h
308
Image Credit: Bloomberg Quint
Charting the Global Economy: US GDP Falls On Larger Trade Hit
- The US economy shrank at the start of the year, impacted by weaker consumer spending and a significant trade hit.
- Canada's economy saw growth driven by a surge in tariff-driven exports, offsetting domestic weaknesses.
- Consumer sentiment improved in late May, with long-term inflation expectations lowering after China tariffs rollback.
- US government's GDP report highlighted the AI boom's impact, with record contributions from business investments in technology.
- European firms in China are pessimistic about growth prospects, while Germany's inflation rate slowed less than expected.
- Asia's export powerhouses face challenges due to Trump's trade policies, impacting investments from Asia.
- India's economy exceeded analysts' expectations, driven by agricultural activity and investments.
- Brazil's lower-than-forecast consumer prices may halt interest rate hikes, focusing on taming inflation.
- Japan lost its position as the world's largest creditor nation to Germany after 34 years, despite holding a record amount of overseas assets.
- New Zealand and several other countries adjusted their interest rates, with some cutting while others maintained rates unchanged.
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Bloomberg Quint
14h
320
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Dividend Stocks To Watch This Week—TCS, L&T Tech, Nuvama, IndiaMart, HDFC AMC
- Companies like TCS, L&T Technology, Nuvama, IndiaMart, and HDFC AMC are set to issue dividends this week with upcoming record dates.
- Investors need to pay attention to the record dates to be eligible for dividends as per India's T+1 settlement cycle.
- HDFC AMC is recommending the highest final dividend at Rs 90, followed by Nuvama at Rs 69 and L&T Technology at Rs 38.
- Key details include dividend amounts and record dates for these companies like HDFC Asset Management, L&T Technology Services, TCS, and IndiaMart IndiaMesh.
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Bloomberg Quint
14h
320
Image Credit: Bloomberg Quint
Stock Splits To Watch This Week— Coforge
- Coforge Ltd. announced a stock split which will double the number of shares but not alter the company's market cap.
- The stock split involves splitting existing equity shares with a face value of Rs 10 each into two equity shares of Rs 5 each, fully paid up.
- Investors need to hold shares as of the record date to be eligible for the stock split, with the entitlement based on the split ratio.
- The company's share price surged to a one-month high in the first week of May following the announcement of a dividend and stock split.
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