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Today Market overview mostly shares in Red

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Visa Service Suspended

BLS International, an online visa application centre, on September 21, Thursday said the Indian Mission has suspended India visa services in Canada till further notice but less than an hour later, the platform took down the notification on its website.

“Important notice from Indian Mission: Due to operational reasons, with effect from 21 September 2023, Indian visa services have been suspended till further notice. Please keep checking the BLS website for further updates,” the visa consultancy services firm had said. The notification is not available on the the website anymore.

According to a statement made by Hindenburg Research on Thursday, the Jack Dorsey-led payments company misrepresented its user numbers while understating the expense of acquiring new customers.

Block has repeatedly abused the demographics it purports to be assisting, according to our two-year research, the short seller wrote in a message posted on its website.

In its most recent report, the U.S. short-seller, who was responsible for the over $100 billion market decline in Adani Group, said that former Block workers believed that 40% to 75% of the accounts they checked were fraudulent, fictitious, or extra accounts connected to a single person.

The company's "Wild West" attitude to compliance and Block's acceptance of criminals, according to the study, made it simple for bad actors to mass-create accounts for identity fraud and other schemes and easily withdraw stolen assets.
Block banned the account without banning users even after they were discovered committing fraud or other illegal conduct. Screenshots supplied by a former customer service agent demonstrated how banned accounts were frequently linked to dozens or even hundreds of additional active accounts that were thought to be fraudulent.

According to Ortex statistics, 5.2% of Block's free float shares were short as of March 22.

Hindenburg Research is a forensic financial research company that examines equities, credit, and derivatives. It was founded in 2017 by Nathan Anderson. It has a history of exposing corporate misconduct and betting against the corporations.

Source: Economic times

The Central government's recommendation to the panel of experts to strengthen regulatory measures for the stock market in light of the Adani Group-Hindenburg dispute was rejected on Friday by the Supreme Court bench presided over by the Chief Justice of India, saying it wanted to ensure transparency. The Supreme Court bench stated that it would prefer not to accept the Centre's suggestions in a sealed cover and declined to accept the sealed cover from the Center.
In response to the decline in the value of the Adani Group stock, the Supreme Court ruled that Indian investors' interests must be safeguarded against market volatility. The court also ordered the government to consider creating a panel of subject-matter experts, led by a former judge, to examine ways to strengthen the regulatory framework.

The business conglomerate has dismissed the charges as “lies", saying it complies with all laws and disclosure requirements.

                                       

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Intraday - BUY GBPINR 28-Dec-2022 @ 100.52-100.54, CMP: 100.53, Target 1: 100.7500, StopLoss: 100.4000

Buy: *AXIS BANK*
CMP: 928
Buying Range: RS.927-930
*Target Price: Rs.960-980*
Stop Loss: Rs.898
Time frame:1-5 Days

Currency Option Strategy

For Delivery Stock.
Invest in SRF

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24 Nov 2022

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GST on SEBI turnover Fees

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