Moneycontrol English Daily Essentials: Know what are the 7 important news for you!

In the hustle and bustle of the day, there are many important news that you miss. That’s why Moneycontrol Hindi is presenting you 7 such articles which should get your attention. If you have also missed this article then read it here.

The Reserve Bank of India (RBI) has now taken action after the incident of a woman being crushed by a tractor by a recovery agent of Mahindra Finance in Hazaribagh, Jharkhand. The RBI, in an order issued on Thursday, September 23, prohibited Mahindra & Mahindra Financial Services (M&M Financial Services) from using third-party recovery agents. RBI said that the company cannot undertake loan recovery or repossession activity through outsourcing system till further orders.

2. Daily Voice: Banks are yet to do better, estimates Chandraprakash Padiyar of Tata Asset Management

Chandraprakash Padiyar of Tata Asset Management said that further slowdown in growth is going to be a major concern and hence, there may be a moratorium on interest rate hike by the Fed by early 2023. Padiyar said in an interview to Moneycontrol. So far, the trend of inflation indicates further tightening. With the Federal Reserve raising interest rates by 75 bps, further such hikes have been indicated keeping inflation in mind.

3. OYO suffered another setback before IPO, SoftBank Group reduced valuation by 20% to $ 2.7 billion

Giant Japanese investment firm SoftBank Group Corp has slashed the valuation of Oyo Hotels by over 20 per cent. Bloomberg gave information in a report citing sources. SoftBank has slashed the valuation of OYO in its books at a time when it is preparing to launch its initial public offering (IPO).

4. Gold Silver Price: Gold price continues to rise, gold came close to Rs 50,000

Gold Silver Price Today 22 September 2022: The price of gold in the jewelery market is once again approaching Rs 50,000 per 10 grams. Gold and silver prices rose today. The price of gold closed at Rs 49,894. However, there was a correction of Rs 1,500 in the price of gold in the last one week, but it is visible for the last three days. If gold experts are to be believed, then by the time of festivals, the price of 24 carat gold can come up to Rs 48,000 per 10 grams.

5. LIC Share: LIC reached its lowest level after listing, trading 32% below IPO price

Shares of the country’s largest insurance company LIC (Life Insurance Corporation of India) fell nearly half a per cent to Rs 648 on the NSE during trading on Thursday, September 22, which is its lowest level ever. With this, the shares of LIC have fallen by about 32 percent so far from its IPO price.

6. Market closed in red mark on the day of weekly expiry, these stocks including ITC, Lemon Tree hit their 52 week high

The market witnessed volatility on the day of weekly expiry. Sensex closed 337 points lower at 59,120 and Nifty closed 89 points lower at 17,630. On the other hand, if we talk about Nifty Bank, Nifty Bank fell 573 points and closed at 40,631. Today, FMCG, metal, auto, pharma stocks were seen buying the most, while banking, energy, realty stocks were under pressure.

7. Fortis Healthcare Shares Broke Over 16%, Supreme Court Sentenced Singh Brothers to 6 Months, Orders Forensic Audit

Fortis Healthcare Share Price: There has been a tremendous decline in the shares of Fortis Healthcare today. Its shares fell more than 16% after the Supreme Court’s decision on the company’s open offer. Fortis Healthcare shares were trading at Rs 262 down 16.06% at 11.20 am. The Supreme Court in its judgment has upheld IHH’s open offer for Fortis. The Supreme Court has asked the Executive Court to pronounce its verdict in the matter. The Supreme Court has asked the Executive Court to conduct a forensic audit to examine the transactions between lenders and financial institutions. The Supreme Court has also sentenced the Singh Brothers to 6 months in jail in this case.

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