In this week's wrapup we talk about SEBI's fine on Reliance, bitcoin, stamp duty, GST and the iron ore dilemma.
But before that a brief on this week’s Finshots Markets. Gold has seen a resurgence like no other and so we thought we could look at Titan and its jewellery business Tanishq to make sense of how things are shaping up right now. Link to the full article here.
The Ambani Penalty
On January 1st SEBI ordered billionaire Mukesh Ambani and his conglomerate Reliance Industries Ltd. to pay a combined penalty of Rs 40 crores for alleged manipulative and fraudulent trading in the month of November 2007. And if you’re wondering why the regulator imposed such a harsh penalty, here’s our simplified take on what happened during the fateful month. Link here.
The Bitcoin Rally Explained
Bitcoin has been on a rally like no other. And while memories of the last boom and bust cycle are fresh in everyone’s mind, we thought we could look at the crypto asset once again and see if there’s something else brewing this time around. Link to the full story here.
The Stamp Duty story
A few days ago, Maharashtra reported that it had seen a spurt in revenue collection after having reduced stamp duty on sale deeds. So we thought we could take a closer look at this story and perhaps explain how stamp duty has been evolving over the years. Read the full story here.
The great GST crusade
A few days back, the government said that it had netted close to ₹1.15 lakh crore in GST during December 2020 — a new record. And while the jump has been primarily attributed to an increase in business activity and festive season sales, many experts also contend that the government’s crusade against tax evaders has borne fruit. So is there any merit to this story? We answer here.
The Iron Ore Dilemma
India’s steel producers are alleging that they can no longer access iron ore (the key raw material used to make steel) and are requesting the government to halt the export of the key raw material immediately. But the iron ore producers are disputing this claim and offering their own take on the matter. So who’s lying and who’s not? We look at the issue more closely and try to separate the wheat from the chaff. Link here.
That's it from us this week. We will see you on Monday :)