Page 38 - Ortfolio Allocation News Today

The National Highways Authority of India (NHAI) on Monday said that FASTags with incomplete KYC will be deactivated or blacklisted by banks after January 31, as part of its move to enhance efficiency of the electronic toll collection system and provide seamless movement at the toll plazas.

Medi Assist Healthcare Services Ltd (Medi Assist) provides third-party administration (TPA) services to insurance companies through its wholly-owned subsidiaries, namely, Medi Assist TPA, Medvantage TPA (since 13 February 2023), and Raksha TPA (since 25 August 2023).

Amid chaos over flight delays and cancellations due to adverse weather conditions, the Directorate General of Civil Aviation (DGCA) on Monday allowed airlines to cancel flights that are likely to be delayed beyond three hours, an official said, adding the aviation watchdog has also issued new Standard Operating Procedures (SOPs).

Last Tuesday, the shares of Polycab, which had a market capitalisation of Rs80,000 crore and sales of over Rs16,000 crore, slumped 9% on the news of income tax (I-T) searches at its offices for alleged tax evasion. The stock stabilised for a day and then collapsed 21% on Thursday when the I-T department issued an unusually detailed press release saying that it had discovered undeclared cash sales of Rs1,000 crore; the release did not name Polycab.

India’s nominal GDP growth will accelerate to 11.6 per cent this year versus 9.2 per cent in 2023, making it the third consecutive year that the country’s nominal GDP growth will be the strongest in Asia, according to a Morgan Stanley report.

On Tuesday, 1287 stocks advanced, 2570 declined and 72 remained unchanged, with an advance decline ratio of 0.50 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets.

India’s First Mass Surveillance, Mass Spying and Unending Census Case

The Real Estate Regulatory Authority (RERA) said on Tuesday that no promoter should accept more than 10 per cent of the cost of a flat, plot or building as an advance payment or application fee.

JTL Industries (JTL), a manufacturer of steel pipes, reported better than expected results, with sequential operating margin expansion. Though profitability was affected due to scheduled maintenance activities, volume growth was healthy touching its highest-ever mark; but value-added products (VAPs) volume growth was low.

Rejecting the contention of the Life Insurance Corporation of India Ltd (LIC) that ventral hernia surgery is not covered under the list of major surgical benefits under its Jeevan Arogya policy, the national consumer disputes redressal commission (NCDRC) directed LIC to pay Rs1.60 lakh as claim for medical treatment to the policyholder.