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Gitanjali Gems - Why Poor Retailers Lost More Than Mehul Choksi

The scam hit Gitanjali Gems and Nirav Modi's Firestar Diamonds together accounted for nearly 6 per cent of the diamond and jewellery trade in value terms in 2015-16. The most imminent shutdown of the two companies would have an impact of 5-6 per cent on the diamond and jewellery foreign trade in value terms over the next year i.e. 2018-19.  Also, Non-performing assets in this segment would rise to 30 per cent which makes the whole diamond industry unattractive for investment.

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PNB Scam - Explained

In what may turn out to be one of the biggest financial scams in the India’s corporate history, Punjab National Bank (PNB) opened up that it had been defrauded of about Rs 114 billion by jeweller Nirav Modi, his maternal uncle Mehul Chinubhai Choksi, and other relatives through a group of patnership companies they own. PNB said two of its employees headed by Gokulnath Shetty, were involved in the scam, where the bank’s CBS was bypassed to raise payment notes to foreign branches of other Indian banks, including Allahabad Bank, Axis Bank, SBI and UCO Bank a, using SWIFT. Below diagram shows what happened in the past sever years, which bypassed all internal audits and reviews of highly protected and monitored banking system.

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Dolly Khanna Latest Portfolio 2018

While the name Dolly Khanna is well-known on Dalal Street, few in the market know about Rajiv Khanna, the real hero. A chemical engineer from IIT Madras, Rajiv Khanna worked for ICI Ltd, a pharmaceutical company as a research person in the field of industrial explosives and blasting physics. In 1986, he started his company - Kwality Milk Foods.

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Radhakishan Damani Latest Portfolio 2018

Mumbai man Radhakishan Damani is a low-profile stock market veteran who invests on his own account. Portfolio includes a string of blue-chip stocks that he has accumulated over the years. Notable holding is a 26% stake in cigarette maker VST Industries, an affiliate of British American Tobacco.  His close friend is Rakesh Jhunjhunwala, who refers to Damani as his "guru".

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Ashish Kacholia Latest Portfolio Feb 2018

Ashish Kacholia of Lucky Securities is a darling of many of the value investors in stock market. He started his career with Prime Securities and later on moved to Edelweiss Capital. In Prime Securities he was on the research desk, researching stocks for the company's portfolio and he used to visit a lot of companies and create financial models. His focus was on small cap stocks, which they were expecting to grow much bigger and strategy work for bull market days. 

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Vijay Kedia Latest Portfolio 2018

Vijay Kedia - MD of Kedia Securities, who forsees Sensex at 100,000 in 2020, is an admirable investor in Indian stock market. He is holding a whopping 2.5 lakhs shares of Cera Sanitary Wares. His biggest success story so far is Atul Auto where he bagged 5700% returns in 9 years, which means his money has compounded at an dazzling CAGR of around 57%.

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Porinju Veliyath Latest Portfolio Changes - February 2018

Let us discuss about the latest portfolio changes of our Master portfolio member Porinju Veliyath. You can analyze his current portfolio here. This post is meant to detail the changes happened in his portfolio in the last quarter - Q3 of 2017-18. Total portfolio value of Porinju Veliyath now comes to approx 175 crores as per public data.

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Porinju Veliyath Latest Stock Portfolio February 2018

A planter and patriot first, Porinju Veliyath has become a worth looking portfolio manager in Indian stock market investing arena. Through his company named  Equity Intelligence, he has been running a portfolio management scheme (PMS) out of Cochin, in Kerala, starting from 2002.

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Nasdaq Soon To Start Bitcoin Futures. What Next?

Summary
  • CME Group, the world's largest futures exchange, has announced that it has self-certified the listing of Bitcoin futures contract by December 18th.
  • CBOE Futures Exchange and Cantor Exchange are "operational ready" for Bitcoin futures and awaiting listing date.
  • Along with CME and CBOE, the mighty Nasdaq is joining the Bitcoin rush.
  • Bitcoin is moving to mainstream as a tradable asset class.
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5 Things You Should Be Aware Of CME Bitcoin Futures

Summary
  • CME is launching Bitcoin futures in December 18th 2017.
  • As defined by the CME CF Bitcoin Reference Rate (BRR), Bitcoin future will have 5 BTC as contract unit.
  • Unlike Bitcoin exchanges, Bitcoin future will have a defined trading window and circuit filters.
  • CME Bitcoin future brings the option to short Bitcoin.
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