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Cryptocurrency Price Today, June 22: Bitcoin price today was standing at $20,108.32 at the time of writing this article, down by 4.70 per cent in the last 24 hours.

Cryptocurrency Price Today, June 22: Bitcoin price today was standing at $20,108.32 at the time of writing this article, down by 4.70 per cent in the last 24 hours.

 Cryptocurrency Price Today: The global cryptocurrency market on Wednesday, June 22, remained volatile as investors did not see any fresh triggers to boost their confidence. After a day of rally, the crypto market cap saw a slight dip in its value as traders sought to profit booking rather than thinking on a long-term basis amid the prevailing selloff. The global cryptocurrency market cap on Wednesday fell by 3.69 per cent over the past 24 hours to stand at $890.70 billion at the time of writing this article, as per data.


“The current rally may not bring the bulls back into the market due to the recession fears looming over the financial markets. Investor interest in tech stocks and tech-based crypto assets has withered away as the macroeconomic conditions remain unfavorable. The hawkish stance taken by Fed will keep the investors on their toes in the coming weeks," said Tarusha Mittal, COO and Cofounder of Unifarm, a group staking platform.


Bitcoin prices remained at the $20,000 levels on Wednesday. Bitcoin price today was standing at $20,108.32 at the time of writing this article, down by 4.70 per cent in the last 24 hours. Meanwhile, Ether price today was down by 6.20 per cent, to stand at $1,076.72 at the time of writing this article.


“Bitcoin remained just under the $21K level after recovering back from a dip below the $18K mark. Interestingly, this minor recovery has sparked the interest of people in Bitcoin again as the number of searches for the token reached a 12-month high. The daily trend for Bitcoin continues to traverse within a descending channel pattern seemingly bouncing-off the support levels. The next key support for Bitcoin is expected at $14,000. The daily RSI recovered back above the 25 level, still remaining in the oversold zone," said the WazirX trade desk.


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“The crypto market had a promising start to the week as most of the crypto assets were trading in green. The overall crypto market cap is inching towards $1 trillion and is currently at $930 billion. Ether jumped by over 4% and is hovering around the $1200 mark. The meme coin space too witnessed a sharp uptrend as $DOGE and $SHIB surged by 14% and 40% respectively," added Mittal.


Here are the top 10 cryptocurrencies and their prices on June 22, 2022 ( According to data from coinmarketcap.com)


Bitcoin $20,108.32 or 4.70 per cent loss in the last 24 hours


Ethereum $1,076.72 or 6.20 per cent loss in the last 24 hours


Tether $0.9989 or 0.01 per cent loss in the last 24 hours


USD Coin $1.00 or 0.03 per cent loss in the last 24 hours


BNB $212.74 or 4.62 per cent loss in the last 24 hours


Binance USD $1.00 or 0.010 per cent gain in the last 24 hours


Cardano $0.4619 or 6.15 per cent loss in the last 24 hours


XRP $0.3201 or 2.21 per cent loss in the last 24 hours


Solana $34.02 or 7.90 per cent loss in the last 24 hours


Dogecoin $0.06168 or 0.54 per cent gain in the last 24 hours


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SWASTIKA DAS SHARMA

Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J...Read More


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BITCOINCRYPTOCURRENCYETHEREUM

FIRST PUBLISHED:JUNE 22, 2022, 13:47 IST

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HOME » NEWS » MARKETS » SALASAR TECHNO ENGINEERING TO RAISE FUNDS UP TO RS 200 CRORE IN MULTIPLE MODES

2-MIN READ

Salasar Techno Engineering to Raise Funds Up to Rs 200 Crore in Multiple Modes

The funds will be raised in more than one tranche, the company said. (Photo: Shutterstock)The funds will be raised in more than one tranche, the company said. (Photo: Shutterstock)

It was also decided that Salasar Techno Engineering will appoint various intermediaries, merchant bankers, advisors, legal counsel etc to raise the funds.

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LAST UPDATED:

JUNE 22, 2022, 18:24 IST

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Engineering firm Salasar Techno Engineering on Wednesday said that its board has given nod to raise funds up to Rs 200 crore by issuance and allotment of equity shares. The funds will be raised in one or more tranches, the company said in a regulatory filing on the day. The funds will be raised via various modes, including qualified institutional placement (QIP), it added. It was also decided that the company will appoint various intermediaries, merchant bankers, advisors, legal counsel etc to raise the funds.


”The board…has approved raising of funds by issuance and allotment of equity shares for up to an aggregate amount of up to Rs. 200 Crores (Rupees Two Hundred Crore), by way of a preferential allotment and/or through QIP, FCCB, ADRs. GDRs issues, or to the existing shareholders on right basis, or in any combination thereof, in one or more tranches, on such terms as may be decided by the Board or its duly empowered Committee, from time to time, in accordance with applicable law, including Companies Act, 2013 and the rules made thereunder and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable regulations, guidelines etc. as amended," Salasar Techno Engineering said in its filing.


The company has also decided to “appoint various intermediaries, merchant bankers, advisors, legal counsel etc, and constituted a Board’s Fund-Raising committee for proposed fund raising program," it said.


New Delhi-based Salasar Techno Engineering carries out engineering, designing, procurement, fabrication and galvanisation work for telecom players. The company provides services like customised steel fabrication and infrastructure solutions in India.


The board has also approved an “increase in Authorised Capital of the Company from existing Rs. 31,50,00,000/- (Rupees Thirty One Crore Fifty Lakh only) to Rs. 35,00,00,000 (Rupees Thirty Five Crore Only) and consequent alteration in Capital Clause of the Memorandum of Association of the Company," the company said in the filing.


“A proposal for enhancement of borrowing limit to Rs 700 crore from Rs 500 crore was also given a go-ahead by the board, it said. Enhancement of borrowing limits from Rs. 500 Crore (Rupees Five Hundred Crore Only) to Rs. 700 Crore (Rupees\ Seven Hundred Crore Only) in accordance with Section 180(1)(c) of the Companies Act, 2013," it said.


Salasar Techno Engineering in its filing also said that its board gave an approval “to seek requisite members approval for abovesaid items, wherever necessary, by way of passing resolutions through Postal Ballot, and appointed of M/s. Deepika Madhwal & Associates, Practicing Company Secretary as a Scrutinizer for the purpose of conducting Postal Ballot and E voting in fair and transparent manner, process being initiated separately."


On a consolidated basis, Salasar Techno Engineering company reported a 25.7 per cent decline in net profit to Rs 7.2 crore despite of 0.4% rise in net sales to Rs 212.28 crore in Q4 FY22 over Q4 FY21. Shares of the comoany were down 1.22 per cent at Rs 237.90 on the BSE.


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EQUITY FUNDS

FIRST PUBLISHED:JUNE 22, 2022, 18:24 IST

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Equity MFs slump; Debt funds gain

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HOME » NEWS » BUSINESS » SALARY STRUCTURE, WORKING HOURS, LEAVES TO BE CHANGED UNDER NEW LABOUR LAWS; KNOW DETAILS

2-MIN READ

Salary Structure, Working Hours, Leaves to be Changed Under New Labour Laws; Know Details

The new changes are likely to be implemented from soon (Image: Shutterstock)The new changes are likely to be implemented from soon (Image: Shutterstock)

These laws, once implemented, will make organisations across the country undergo paradigm shifts in terms of salary structure, leaves and others.

NEWS18.COM

LAST UPDATED:

JUNE 22, 2022, 16:43 IST

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The government has released four new labour codes after working on it for several months, with an aim to revamp the rules dictating the age old relationship between employees and their employers. The newly prescribed labour codes lay down a host of schemes, under which there will be significant changes in terms of an employee’s salary, his or her PF contributions and work hours. The labour codes also feature changes in working conditions, labour welfare, health and safety. These laws, once implemented, will make organisations across the country undergo paradigm shifts.


Here are the changes one can expect under the four new labour codes


Working Hours and Days Off


Under the new labour laws, one major thing that is likely to be implemented is the change in workdays. Once the new rule comes into effect, companies will be able to make employees work for four days instead of five, and there will be three week offs. However, there is a catch to it. Employees will need to work for 12 hours a day instead of eight, since work hours will not get reduced. This will be applicable to every industry, but may change from state to state depending on the rules set by a particular state.


PF Contributions and Take Home Salary


Another major change that this is going to bring in is that the ratio of the take home salary and the employees and employer’s contribution in provident fund. As per the provision of the new codes, the basic salary of the employee will have to be 50 per cent of the gross salary. While this will mean that PF contributions of the employee and employer will increase, the take home salary will decrease for some employees, especially those working in private firms. The money received after retirement as well as the gratuity amount will also increase under the provisions of the new draft rules.


Annual Leaves


The central government under the new labour laws also wants to rationalise the leave an employee can avail during his or her tenure at a company. The policy of carrying forward a leave to the succeeding year and encashment of leaves are also being rationalised. The government is also recognising work from home structure, which has become prevalent during Covid-19, in its draft model applicable to the service industry. On the other hand, the new labour codes have increased the eligibility requirement for leaves from 240 days of work to 180 days of work in one year. This means that in order to be eligible for getting a leave, an employee has to work for 240 days after joining a new job.


Uttarakhand, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Odisha, Arunachal Pradesh, Haryana, Jharkhand, Punjab, Manipur, Bihar, Himachal Pradesh and UT of Jammu and Kashmir are among the states which have already drafted rules the labour laws.


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LABOUR CODELABOUR LAWNEW LABOUR CODES

FIRST PUBLISHED:JUNE 22, 2022, 16:43 IST

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HOME » NEWS » CRYPTOCURRENCY » SOUTH KOREA PUTS CRYPTOCURRENCY COMPANY TERRAFORM LABS’ STAFF ON NO-FLY LIST

1-MIN READ

South Korea Puts Cryptocurrency Company Terraform Labs’ Staff On No-Fly List

A representations of cryptocurrencies. (Illustration Reuters)

A representations of cryptocurrencies. (Illustration Reuters)

Losses associated with the stablecoin also contributed to difficulties at US-based crypto lender Celsius, which suspended withdrawals this month, and Singapore-based crypto hedge fund Three Arrows Capital

REUTERS

LAST UPDATED:

JUNE 22, 2022, 15:17 IST

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Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said.


TerraUSD’s paired token, Luna, plunged in value last month, sparking a sell off and igniting a chain reaction that has pushed some major institutions in the crypto sector into severe difficulties. TerraUSD was meant to be pegged 1:1 to the U.S. dollar.


An official at South Korea’s Supreme Prosecutors’ Office, who declined to be named as is customary in South Korea, said multiple Terraform Labs staff had been put on a no-fly list.


He added that he could not give further details until after investigations had wrapped up. A Terraform Labs spokesperson said in a statement, “We are not aware of the details of the reported ban."


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Losses associated with the stablecoin also contributed to difficulties at US-based crypto lender Celsius, which suspended withdrawals this month, and Singapore-based crypto hedge fund Three Arrows Capital, which is considering options including the sale of assets and a bailout by another firm.


Bitcoin, the world’s largest cryptocurrency, is trading at about $20,000, having lost about half of its value since early May, when the problems with TerraUSD became apparent.

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BITCOINCRYPTOCURRENCYSTABLECOINS

FIRST PUBLISHED:JUNE 22, 2022, 15:17 IST

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HOME » NEWS » BUSINESS » CBI BOOKS DHFL'S KAPIL, DHEERAJ WADHAWAN IN RS 34,000-CR BANK FRAUD CASE

2-MIN READ

CBI Books DHFL's Kapil, Dheeraj Wadhawan in Rs 34,000-Cr Bank Fraud Case

The CBI is carrying out searches at 12 locations in Mumbai at the premises of accused in the case (Image: Shutterstock)The CBI is carrying out searches at 12 locations in Mumbai at the premises of accused in the case (Image: Shutterstock)

DHFL Scam: CBI books Kapil, Dheeraj Wadhawan of DHFL in Rs 34,615-cr bank fraud case crore officials have said, The case has been registered against the two DHFL promoters for cheating a consortium of 17 banks.

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LAST UPDATED:

JUNE 22, 2022, 18:19 IST

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The Central Bureau of Investigation, or CBI has filed a new case against DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, officials said on Wednesday, June 22. The case has been registered against the two Dewan Housing Finance Corporation Ltd or DHFL promoters for cheating a consortium of 17 banks led by the Union Bank of India to the tune of Rs 34,615 crore, the officials added.


Following the registration of case, a team of over 50 officials from the agency carried out coordinated searches in Mumbai at 12 locations belonging to listed accused in the FIR which also includes Sudhakar Shetty of Amaryllis Realtors and eight other builders. This is the biggest bank fraud case registered and probed by the top Indian investigation agency. Recently, the CBI had pegged the ABG Shipyards fraud case at Rs 22,842 crore.


The agency booked the Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan, the then CMD, Dheeraj Wadhawan, the director and six realtor companies for allegedly being part of criminal conspiracy to cheating the consortium led by the Union Bank of India to the tune of Rs 34,615 crore, the officials said. The agency has acted on a complaint from the bank on February 11, 2022, they said.


The bank has alleged that the company had availed credit facility to the tune of Rs Rs 42,871 crore between 2010 and 2018 from the consortium under various arrangements but started defaulting on commitments of repayment from May, 2019 onwards, the officials said. The accounts were declared non-performing assets at different points of time by lender banks, they said.


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Last year, public sector lender Union Bank of India had written to the CBI urging it to investigate the Wadhawan brothers, who were the joint directors of DHFL, for allegedly causing a loss of Rs 40,623.36 crore (as on July 30, 2020) to the consortium of banks led by it. The leading lender in its complain also attached the findings of audit firm KPMG, which was appointed by it. The KPMG prima facie found that there have been “deviation of laid down norms and procedures, manipulation of accounts, concealments, undisclosed bank accounts and misrepresentation” by the DHFL promoters.


The bank has alleged that KPMG in its audit red flagged diversion of funds in the garb of loans and advances to related and interconnected entities and individuals. The report found that 66 entities having commonalities with DHFL promoters were disbursed Rs 29,100.33 crore against which Rs 29,849 crore remained outstanding.


The Wadhawans are already under CBI probe in connection with alleged corruption involving Yes Bank founder Rana Kapoor. The officials said that this time they acted on the erstwhile DHFL chiefs based on the complaint filed by the Union Bank of India on February 11 this year. The Wadhawan brothers are currently under judicial custody in relation with the cases filed by the Enforcement Directorate and the CBI for the fraud cases involving Yes Bank. According to the deets of that case, the Wadhawan brothers collaborated with Yes Bank co founder Rana Kapoor to carry out the fraud. Kapoor is also lodged at the Taloja prison currently.


(With PTI inputs)


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DHFLDHFL FRAUD

FIRST PUBLISHED:JUNE 22, 2022, 14:58 IST

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DHFL Promoters Wadhawan Brothers Land in Chennai Jail for Fraud of Rs 218 Crore

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HOME » NEWS » MARKETS » STOCK MARKET IN RED! SENSEX TANKS 750 POINTS; 5 REASONS WHY MARKETS ARE FALLING TODAY

3-MIN READ

Stock Market In Red! Sensex Tanks 750 points; 5 Reasons Why Markets Are Falling Today

Snapping two-day gains, the markets bled on WednesdaySnapping two-day gains, the markets bled on Wednesday

Snapping two-day gains, the markets bled on Wednesday amid investors fretting over rising inflation and aggressive policy tightening by central banks

LAST UPDATED:

JUNE 22, 2022, 14:59 IST

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APARNA DEB

Stock Market Today: Snapping two-day gains, the markets bled on Wednesday amid investors fretting over rising inflation and aggressive policy tightening by central banks. India’s 10-year benchmark yield was down marginally to 7.41 per cent, from its previous close of 7.48 per cent. Asian stocks fell in volatile trade, failing to extend an overnight Wall Street rally, while the Japanese yen hit a fresh 24-year low against the dollar. The BSE Sensex lost 700 points while the NSE Nifty slipped below 15,400, with the BSE market capitalisation falling Rs 3.36 lakh crore to Rs 237.27 lakh crore from Rs 240.63 lakh crore a day ago.


Dr VK Vijayakumar, chief investment strategist at Geojit Financial Services, said: “Pull-back rallies can be sharp and it was sharp yesterday. The important question is: will this continue? There is no economic news, except the softness in crude, to sustain the rally. There is no reason for FIIs to change their selling strategy since the dollar continues to be strong and US bond yields are attractive and expected to rise further. The large-caps which bounced back sharply yesterday are fundamentally strong stocks. Therefore, the best investment strategy now should be to buy these high-quality names in small quantities, on dips."


Here Are Key Reasons Behind the Market Fall Today:


Jerome Powell’s Testimony


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US Federal Reserve chair Jerome Powell is due to start his testimony to Congress later in the day, with investors looking for further clues about whether another 75-basis point rate hike is on the cards at the Fed’s July meeting. Concerns that the Fed may continue to hike rates aggressively despite looming concerns of recession in the world’s largest economy is weighing on investor sentiment. As such, there was some cautiousness among market participants ahead of Powell’s testimony.


Weak US Futures


US futures down up to 2 per cent, indicating a gap-down start for Dow Jones, S&P 500 and Nasdaq later tonight. While markets such as Japan, China, and Australia edged up to 0.3 per cent lower, those in Hong Kong, Taiwan and Korea were down up to 2 per cent.


Rupee Hits Fresh Record Low of 78.29


The Indian rupee reached a new record low of 78.29 against the US dollar on Wednesday as persistent foreign fund outflow from the financial markets, risk aversion in global equities, elevated crude prices put pressure on the native currency. The fall comes amid selling in emerging market equities and currencies ahead of the US Fed Chair Jerome Powell’s testimony to US Congress later in the day. According to foreign exchange analysts, the local unit has also been hampered by heightened concerns over India’s inflation and current account deficit and elevated crude oil prices.


FPI Selloff


Persistent weakness in the rupee intensifies foreign outflows. Data showed foreign equity outflows have topped Rs 40,000 crore in June so far, taking year-to-date Rs 2,07,195.


Nifty Technical Outlook


“Even as US markets ended firm in overnight trades, weakness in most of the Asian indices could weigh on domestic benchmarks in early trades. On the other hand, Nifty’s technical charts suggest ‘Bullish Morning Star Candlestick Pattern’. Nifty’s make-or-break support for the day is seen at 15,453 and then good support at the recent low of 15,181 mark."


“We suspect Bank Nifty too is aiming for a significant rebound with the biggest support seen at 32,155 mark. Upside, however, may be capped on reports of fears that the global economy will slow dramatically amidst an aggressive tightening from major central banks across the globe to rein in record inflation that has rattled the sentiment,” he added.

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