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Capital markets regulator SEBI sent notices last week to four entities asking them to pay Rs 4.56 crore within 15 days in <keyword id="46994" type="General" weightage="100" keywordseo="fortis-healthcare" source="Orion">Fortis Healthcare</keyword>'s case of fund diversion and misrepresentations to conceal the fraud. In addition, the regulator warned of attachment of assets and accounts if they fail to make the payment within the stipulated time. The four entities that received notices are -- Fortis Global Healthcare, RHC Finance, <keyword id="6984621" type="General" weightage="50" keywordseo="shimal-healthcare" source="Orion">Shimal Healthcare</keyword> and ANR Securities. The demand notices came after the entities failed to pay the fine imposed on them by the <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (SEBI) in May 2020. In four fresh notices dated June 9, SEBI directed them to pay Rs 4.56 crore, which includes interest and recovery cost, within 15 days. In the event of non-payment of dues, the regulator will recover the amount by attaching and selling their moveable and immovable properties. Besides, they will face attachment of their bank accounts. Also, the regulator takes the route of arrest and detention in prison to recover the amount. In May 2022, SEBI imposed penalties totalling Rs 38.75 crore on 32 entities, including these four entities in the case related to the diversion of funds of <keyword id="161042" type="General" weightage="50" keywordseo="fortis-healthcare-ltd" source="Orion">Fortis Healthcare Ltd</keyword> (<keyword id="5209318" type="General" weightage="80" keywordseo="fhl" source="Orion">FHL</keyword>) and misrepresentations to conceal the fraud. It levied a fine of Rs 1 crore each on the four entities. The matter goes back to 2018 when a media report came out that the promoters of the listed FHL had allegedly taken massive funds out of the listed company. It also pointed out that Deloitte Haskins &amp; Sells LLP, the statutory auditor of FHL, had refused to sign on the company's second-quarter results until the funds were accounted for. Subsequently, the regulator initiated an investigation into the matter to examine possible violations of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices). In its probe, SEBI found that a systematic scheme of fraud was devised by the erstwhile promoters of FHL to funnel the resources of a listed company behind the facade of investment through Inter-Corporate Deposits (ICDs) or short-term loans to various intermediate entities for the benefit of RHC Holding, an entity which was indirectly owned and directly controlled by the erstwhile promoters. The funds aggregating to Rs 397 crore were diverted from FHL to RHC Holding, through a wholly-owned subsidiary of FHL -- Fortis Hospitals Ltd. The funds were allegedly routed through a network of entities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/61-of-young-adults-in-india-likely-to-smoke-e-cigarettes-in-the-future-most-believe-they-are-non-addictive-study/articleshow/100989858.cms">61% of young adults in India likely to smoke e-cigarettes in the future, most believe they are non-addictive: study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/here-are-nifty-50s-top-gainers-in-the-last-six-months/slidelist/100990324.cms">Here are Nifty 50’s top gainers in the last six months</a>

SEBI issues demand notices to 4 entities in Fortis Healthcare fund diversion case

<ul><li>The patient's legs had to overlap each other, and he had to be kept in that position for three weeks.</li><li>A flap surgery involves lifting tissue from a donor site and placing it on the recipient site with an intact blood supply.</li><li>The case was challenging because the patient had a severe infection and poor bone quality, the hospital said.</li></ul>Doctors at a city-based hospital here treated a 40-year-old Iraqi national using the cross-leg flap surgery, an over a century-old technique, in which they lifted tissue from one site and placed it on the affected area. The doctors at <keyword id="136410" type="General" weightage="100" keywordseo="fortis-hospital" source="Orion">Fortis Hospital</keyword>, <keyword id="6361194" type="General" weightage="80" keywordseo="vasant-kunj" source="Orion">Vasant Kunj</keyword>, decided to perform the procedure - a technique arguably first described in medical literature in 1854 - as the newer and more sophisticated ones were not feasible due to the patient's precarious condition, the hospital said. A flap surgery involves lifting tissue from a donor site and placing it on the recipient site with an intact blood supply. It was considered the gold standard to reconstruct soft tissue defects of the lower limb during its heydays. However, the technique fell into disuse with the advent of the highly sophisticated microvascular techniques, which enable doctors to join or repair damaged blood vessels or nerves, the hospital said. The road accident victim, who had undergone three unsuccessful surgeries in Iraq in eight months, was brought to the hospital with acute dislocation of the left knee joint and a severely infected, pus-oozing leg, the hospital said. Investigations revealed that the patient's affected leg had no intact blood vessel due to multiple injuries, which is necessary for the reconstructive surgeries currently in vogue. The doctors then decided to perform the cross-leg flap surgery. "After much deliberation, we decided to adopt a complex, multi-step approach. Though the treatment spanned over five weeks, the outcome is satisfactory," said Dr <keyword id="3583003" type="General" weightage="80" keywordseo="dhananjay-gupta" source="Orion">Dhananjay Gupta</keyword>, Director, Orthopaedics &amp; Joint Replacement Surgery, Fortis Vasant Kunj. "Presently, the patient's leg is well covered with soft tissue and there is no evidence of infection," he said. "The patient has been asked to start walking and he is currently undergoing physio-rehabilitation. We hope that once the fracture heals, over a period of three months, he will be able to take his full weight on that leg. We have also planned for additional procedures in the future, which may be required," Gupta added. The case was challenging because the patient had a severe infection and poor bone quality, the hospital said. According to <keyword id="15187912" type="General" weightage="80" keywordseo="dr-rashmi-taneja" source="Orion">Dr Rashmi Taneja</keyword>, Director, Plastic &amp; Reconstructive Surgery at <keyword id="15187913" type="General" weightage="50" keywordseo="fortis-vk" source="Orion">Fortis VK</keyword>, the patient was hypertensive and diabetic too. "The patient's legs had to overlap each other, and he had to be kept in that position for three weeks." "So, placing it in a manner where there's no pressure between the two feet and making sure that there is no bending of the flap while it is taking up the new circulation was challenging and required planning, and of course cooperation of the patient," she added. The doctors had initially thought of doing a microvascular free flap reconstruction, which involves taking muscle and skin along with the blood vessels from either the back or the abdomen but had to abandon the idea as there was no intact blood vessel in the patient's leg. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-group-leads-e-commerce-festive-sales-meesho-is-second-largest-contributor-in-order-volume-redseer/articleshow/94701015.cms">Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-is-developing-a-nudity-protection-feature-to-block-unsolicited-nude-photos-in-dms/articleshow/94697784.cms">Instagram is developing a ‘Nudity Protection’ feature to block unsolicited nude photos in DMs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-slips-past-82-per-dollar-to-hit-a-new-all-time-low/articleshow/94695912.cms">Rupee slips past 82 per dollar to hit a new all-time low</a>

Fortis Hospital in Delhi performs a 19th century procedure to save Iraqi national's leg

The <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> on Thursday sentenced former Ranbaxy promoters Malvinder Singh and Shivinder Singh to 6 months imprisonment in a case connected with the sale of shares of <keyword id="89365" type="General" weightage="100" keywordseo="fortis" source="Orion">Fortis</keyword> to Malaysia-based IHH Healthcare. A bench, headed by Chief Justice U.U. Lalit, declined to lift its stay on the open offer by IHH Healthcare Berhad for a 26 percent stake in <keyword id="46994" type="General" weightage="80" keywordseo="fortis-healthcare" source="Orion">Fortis Healthcare</keyword>. It asked the Delhi High Court to issue remand in the case and also ordered a forensic audit of the Fortis-IIH deal. "Everything goes back to the executing court," it said. The former promoters of Fortis Healthcare Ltd were embroiled in a court battle after <keyword id="85190" type="General" weightage="80" keywordseo="daiichi-sankyo" source="Orion">Daiichi Sankyo</keyword>, a Japanese firm, had challenged the Fortis-IHH share deal to recover the Rs 3,600 crore arbitration award that it had won before a Singapore tribunal against the Singh brothers. Due to a legal fight between Daiichi Sankyo and the former promoters of Fortis Healthcare, the IHH-Fortis deal is stuck. The top court also slapped the Singh brothers with a fine in the contempt case filed against them by the Japanese firm. Daiichi Sankyo moved the court to enforce the arbitral award passed by a Singapore tribunal in 2016. The Delhi High Court, in January 2018, ruled that the arbitration award won by Daiichi Sankyo against the Singh brothers for concealing information about the erstwhile Ranbaxy Laboratories, was enforceable in India. In 2018, IHH Healthcare had acquired a 31 percent controlling stake in Fortis, which triggered a mandatory open offer to acquire another 26 percent of Fortis shares from the market. However, the open offer could not move forward due to ongoing legal proceedings with respect to the transaction based on a plea filed by Daiichi Sankyo. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-cancels-licence-of-laxmi-co-operative-bank-solapur/articleshow/94387667.cms">RBI cancels licence of Laxmi Co-operative Bank, Solapur</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-billionaires-debut-on-rich-list-after-ipos/articleshow/94384190.cms">Four billionaires debut on rich list after IPOs</a>

SC sends former promoters of Fortis Healthcare to six months jail

The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) on Thursday directed Mahindra &amp; Mahindra Services Ltd, Mumbai (<keyword id="348944" type="General" weightage="80" keywordseo="mmfsl" source="Orion">MMFSL</keyword>), to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. In other words, the company was directed not to use services of any outside agency for loan recovery purpose. The RBI, however, said that MMFSL may continue to carry out recovery or repossession activities through its own employees. "The RBI in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, has directed Mahindra &amp; Mahindra Financial Services Ltd. (MMFSL), Mumbai, to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders. However, the said NBFC may continue to carry out recovery or repossession activities, through its own employees," it said. "This action is based on certain material supervisory concerns observed in the said NBFC, with regard to the management of its outsourcing activities," it said further. The direction from the central bank came after a pregnant woman in Jharkhand died after she was allegedly mowed down under the wheels of a tractor by a recovery agent of the finance company in the state's Hazaribagh district, according to media reports. As per reports, Hazaribagh police told media persons that the officials of the finance company did not inform the local police station before going to the residence of the victim for the recovery of the tractor. <keyword id="6355744" type="General" weightage="50" keywordseo="mahindra-group" source="Orion">Mahindra Group</keyword>, in a statement quoting its Managing Director and CEO Anish Shah, said that it will investigate the incident from all aspects. It further said that the company will also examine the practise of using third-party collection agencies. The company said that it stands with the deceased person's family in this moment of grief. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sc-sends-former-promoters-of-fortis-healthcare-to-six-months-jail/articleshow/94387761.cms">SC sends former promoters of Fortis Healthcare to six months jail</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-cancels-licence-of-laxmi-co-operative-bank-solapur/articleshow/94387667.cms">RBI cancels licence of Laxmi Co-operative Bank, Solapur</a>

RBI restrains Mahindra Finance from using recovery agents after accident

New Delhi, Nov 18 () Fortis Healthcare on Monday said it is exploring legal means with respect to the Supreme Court judgment that found the company guilty of contempt for violating the court's earlier order.
The healthcare firm said it is exploring legal means to address the case in an expeditious manner.
The SC on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its earlier order, asking them not to divest their shares in Fortis Healthcare.
It has been advised that the open offer made by IHH Healthcare Berhad to the Fortis shareholders to acquire 26 per cent stake at Rs 170 per share continues to remain in abeyance and would be adjudicated upon in conjunction with the hearing of the contempt petition, Fortis Healthcare said in a BSE filing.
"The Hon'ble Court has issued a suo moto notice of contempt to Fortis Healthcare Ltd for violating the Court order dated December 14, 2018," it added.
The company is currently evaluating the judgement and exploring legal means to address it in an expeditious manner keeping in mind the best interest of all its stakeholders, Fortis Healthcare said.
"The Hon'ble Court has vide the notice sought an enquiry into consummation of the acquisition of healthcare assets from RHT Health Trust by the company," it added.
The court has also sought an enquiry into whether the subscription by IHH to the shares of the company was undertaken after the status quo order was issued on December 14, 2018 and accordingly, if such subscription was in violation of this status quo order, Fortis Healthcare said.
"The company would be appropriately responding to these concerns of the Hon'ble Court by providing cogent evidence," it added.
The company will take this occasion to present facts before the Court that demonstrate that no part of the proceeds from the IHH transaction were paid to Malvinder Mohan Singh, Shivinder Mohan Singh or any of their controlled entities in anyway, Fortis Healthcare said.
The company would also present before the Supreme Court that the IHH transaction was consummated on November 13, 2018 which was more than a month before the status quo order was passed and the same would be adduced before the court during the contempt proceedings, Fortis Healthcare said.
It would also present that the IHH transaction was done through fresh preferential allotment of shares of the company and and due approvals were sought for the same through an extraordinary general meeting of shareholders held on August 13, 2018, the firm said.
On the RHT transaction, which was consummated on January 15, 2019, Fortis said it was undertaken in the best interest of the company and at the time of consummation of the transaction, to the best of the its knowledge the erstwhile promoters or any of their controlled entities were not unit-holders in the RHT Health Trust," it added.
As a result of this transaction, Fortis bought back hospital properties worth around Rs 4,666 crore by acquiring securities in the RHT Trust's Indian entities that had ownership of these properties, the company said.
In an announcement to Bursa Malaysia, IHH Healthcare has also said that, it "remains committed to proceed with the Fortis Open Offer once the stay is lifted by the Supreme Court of India".
The next hearing date for this matter is February 3, 2020. IHH is seeking appropriate legal advice on this matter and will subsequently decide on the future course of action, it added. AKT AKT BAL
BAL

Exploring legal options to address contempt notice by SC: Fortis Healthcare

<keyword id="156025" type="UNKNOWN" weightage="20" keywordseo="Medical-Tourism">Medical tourism</keyword> is the latest trend that has taken over the private sector <keyword id="6354525" type="COMPANY" weightage="20" keywordseo="Healthcare">healthcare</keyword> in India. Plush rooms that give you feel of a five star hotels, <keyword id="46484" type="COMPANY" weightage="20" keywordseo="Rolls-Royce">Rolls-Royce</keyword> to travel in, food court, in house cinema lounge…they have all that one can imagine and ask for. 
 It is healthcare firms like <keyword id="161042" type="COMPANY" weightage="20" keywordseo="Fortis-Healthcare-Ltd">Fortis Healthcare Ltd</keyword>, <keyword id="737148" type="COMPANY" weightage="20" keywordseo="Apollo-Hospitals-Enterprise-Ltd">Apollo Hospitals Enterprise Ltd</keyword> and <keyword id="6382949" type="COMPANY" weightage="20" keywordseo="Medanta">Medanta</keyword> that have either constructed or advanced the facilities to provide its consumers with the high-end services. And <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">ASSOCHAM</keyword> believes, this business could grow as much as 20% a year and have the potential to become a $125 billion market in another two years. Strong demand of quality medical services has given a boom to the market and overseas competitors including Dubai-based <keyword id="2014913" type="UNKNOWN" weightage="20" keywordseo="Aster-DM-Healthcare">Aster DM Healthcare</keyword> and <keyword id="2872810" type="UNKNOWN" weightage="20" keywordseo="ABV-Group">ABV Group</keyword> too are investing aggressively in India. 
 
"The fact that you actually come for surgery or medical treatment would be an incidental part of the experience," ABV Group Chief Executive Advet Bhambhani told Reuters. 
 
ABV, one of the biggest performers is planning to invest $78 million to smarten up the hotels and to provide Rolls-Royce to the patients. Not just this, but there are special packages in which you can include site-seeing along with the surgical treatments. 
 Coming back to the Delhi based <keyword id="2872812" type="UNKNOWN" weightage="20" keywordseo="Fortis-Memorial-hospital">Fortis Memorial Hospital</keyword>, which is equipped with an in-house cinema lounge and food court and is promising to provide top-notch services to its consumers. On the other hand we have Kerala based Aster Medcity, a 575-bed hospital which have warm lighting and hardwood floors that gives the patients feel of a luxury hotel room. 
 
The medical tourism sector is expected to grow to $10.3 billion in 2020, from $2.8 billion now, consultancy PwC says. A 2014 study by consultants KPMG ranks India as the third top Asian destination for medical tourists after Thailand and Singapore, with 25% growth a year, outstripping the 16% growth in Thailand, said the report published in ET. 
 
Image: thinkstock

How about a Rolls Royce ambulance or a fine dining restaurant in a hospital! Welcome to 5-star healthcare in India

<ul><li>Two of India’s most-famous billionaires, <keyword id="6359351" type="PERSON" weightage="20" keywordseo="malvinder-singh">Malvinder Singh</keyword> and <keyword id="136456" type="PERSON" weightage="20" keywordseo="Shivinder-Singh">Shivinder Singh</keyword> -- the former promoters of the erstwhile drug maker Ranbaxy-- have been arrested by the Delhi police </li><li>They are accused of siphoning $300 million from their own financing firm, <keyword id="168310" type="DOMAIN" weightage="20" keywordseo="Religare-Enterprises-Ltd">Religare Enterprises Ltd</keyword>. </li><li>The billionaire duo had inherited Ranbaxy, a company that was nurtured into becoming India’s largest drugmaker, over decades. </li><li>Just over a decade after the historic sale of Ranbaxy to Japanese pharma major Daiichi Sankyo, <keyword id="6739123" type="UNKNOWN" weightage="20" keywordseo="The-Singh-Brothers">the Singh brothers</keyword> find themselves in prison for alleged financial impropriety. </li></ul>Two of India’s most-famous billionaires,Malvinder Singh and Shivinder Singh -- the former promoters of the erstwhile drug maker Ranbaxy-- have been arrested by the Delhi police for siphoning $300 million from their own financing firm, Religare Enterprises Ltd. The billionaire duo had inherited Ranbaxy, a company that was nurtured into becoming India’s largest drugmaker, over decades. The Singh brothers lacked the patience and the scruples of their previous generation. Under their leadership, Ranbaxy gained unmatched global prominence very quickly, other businesses like the hospital chain Fortis Healthcare and financial services firm Religare thrived. But the house of cards came crashing down just as fast. Just over a decade after the historic sale of Ranbaxy to Japanese pharma major Daiichi Sankyo, the Singh brothers find themselves in prison for alleged financial impropriety. 
	<div type="Slideshow" msid="71534985" hostid="261" title="An Indian billionaire duo's journey from glory to prison in just over a decade" firstImageMsid="71535246" slideCount="7"></div>

An Indian billionaire’s journey from glory to prison in just over a decade

New Delhi, Jan 29 () The Securities Appellate Tribunal (SAT) on Wednesday directed markets regulator Sebi to pass a fresh order in Religare Finvest's fund diversion matter.
 Also, it has asked Religare Finvest Ltd (RFL) to maintain its assets worth Rs 200 crore for a period of three months.
 The order comes following an appeal filed by RFL against an interim order passed by the capital markets watchdog in October 2018 as well as against the confirmatory ruling of Sebi in March 2019.
 RFL is a subsidiary of the Religare Enterprises (REL). Shivinder and Malvinder Singh were promoters of REL.
 The issue pertains to the affairs of Fortis Healthcare Ltd (FHL), which were being managed by the erstwhile promoters -- the Singh brothers. It was alleged that the Singh brothers siphoned off the funds of Fortis Healthcare to promoter related entities through layers of companies which were controlled by them.
 Sebi, in October 2018, had directed Fortis Healthcare to recover Rs 403 crore, along with interest, from RFL and other entities. Also, it had said that RFL was jointly and severally liable to pay this amount along with other entities. Besides, RFL and other entities were also restrained from disposing of the assets pending investigation.
 The regulator had noted that as per the forensic auditor report, RFL had received a sum of Rs 200 crore from three companies -- Best Healthcare, Fern Healthcare and Addon Realty. Thus, RFL was a beneficiary of the Rs 200 crore which they were liable to refund. However, RFL had vehemently contended that the three companies had not transferred the funds to it.
 After giving them an opportunity to present their case, Sebi in March 2019 had said RFL failed to rebut the prima-facie findings and the allegations made against it in the interim order and had asked RFL along with REL to recover over Rs 2,000 crore that were diverted to Singh brothers and 21 other entities.
 "It was observed that funds amounting to Rs 2,315.09 crore had been diverted from the books of RFL for the utilisation of promoters and promoter group entities of REL," the regulator had said in the order.
 Further, Sebi had said that the detailed investigation in the matter was still in progress which was supposed to reveal all the layers of the alleged fraud as well as expose the specific role of each entity.
 It was contended by RFL that in one order Sebi directed the company to refund Rs 200 crore and in another ruling it had asked RFL to recover over Rs 2,000 crore from the same companies and, therefore, urged that contradictory orders have been passed without considering the material and evidence provided by it.
 However, Sebi justified its interim order on the grounds that the objections raised by RFL were considered. The regulator's counsel further contended that the second order passed by Sebi was in relation to another investigation against another entity.
 "Whereas in the impugned order the order was passed in relation to the affairs of the FHL and the second order of the same date was passed in the matter of REL and, therefore, the issue relates to two different, distinct companies even though some of the entities may be common," Sebi contended.
 After hearing both parties, the tribunal said, "the WTM (Whole time member) has passed two orders which appears to be contradictory to each other. In the impugned order, the appellant (RFL) is required to refund a sum of Rs 200 crore which is alleged to have been paid by the three companies. In another order the WTM has directed the appellant to recover more than Rs 2,000 crore some of which from two of the companies mentioned in the impugned orders".
 "The impugned orders cannot be sustained and are quashed in so far as it relates to the appellant. The matter is remitted to the WTM to pass a fresh order if they so desire after giving an opportunity of hearing to the appellant," it added.
 In order to balance the equities, SAT has directed RFL to maintain its assets worth Rs 200 crore for a period of three months. SP ABM
ABM

SAT directs Sebi to pass fresh order in Religare Finvest matter

<ul><li>Foreign institutional investors have pulled out nearly $7 billion from the Indian markets this year.</li><li>FIIs have been net buyers in only one month this financial year – September.</li><li>Nearly $13 billion worth of shares have been sold by FIIs so far, as opposed to inflows worth over $13 billion in the period last year.</li></ul>Foreign institutional investors (FIIs) have offloaded nearly $7 billion worth of shares in the last two months and since the beginning of the financial year, FIIs have sold nearly $13 billion worth of shares. During the financial year, only September has witnessed net buying from FIIs, that too only to the extent of $62 million. This comes at a time when the Nifty 50 index has gained nearly 20% since April. “Part of the reason FIIs are selling is because valuations are not cheap and the inflation risk is real in India while the Reserve Bank of India, which historically was one of the more vigilant central banks, right now seems to be more on the dovish side," said Arvind Sanger, managing partner, Geosphere Capital Management to <a href="https://economictimes.indiatimes.com/markets/expert-view/why-have-fiis-turned-big-sellers-in-the-indian-market-arvind-sanger-answers/articleshow/87904160.cms">Economic Times</a>. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Month (2021) </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Amount ($ billion) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">April </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-1.70 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">May </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.81 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.003 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">July </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.10 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">August </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.34 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">September </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.06 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">October </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.42 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">November </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.39 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-12.70 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, as on November 26, 2021 During the financial year, the last two months have recorded nearly $7 billion worth of selling and November is on track to be the month with the highest selling. <div type="image" title="FIIs - 2020-21 vs 2021-22" msid="87927349" hostid="261" caption="&amp;lt;p&amp;gt;FII activity compared to last financial year.&amp;lt;/p&amp;gt;"></div> Some of the reasons for the pull out by FIIs include concerns around COVID-19, the inflation risk and US Federal Reserve’s plans to reduce the stimulus. If we look at some of the companies that have high <keyword id="46756" type="General" weightage="20" keywordseo="fii" source="Orion">FII</keyword> holdings, there has been a substantial withdrawal in the financial year, even without looking at the last two months. The following data does not factor in the heavy selling that has taken place in October and November. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII holding as on March 31, 2021 </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII holding as on September 31, 2021 </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Decline </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram Transport Finance Corporations </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.70% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.30% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment Enterprises Ltd </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.20% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.20% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.00% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fortis Healthcare </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.40% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29.30% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manappuram Finance </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.60% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.90% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54.50% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.50% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.00% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Redington India </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.00% </td></tr></tbody><tbody></tbody></table> Note: Data till September 2021 Morgan Stanley last month <a href="https://www.cnbctv18.com/economy/morgan-stanley-downgrades-india-to-equal-weight-from-overweight-citing-expensive-valuations-11263672.htm">downgraded</a> Indian equities to equal-weight from overweight citing expensive valuations. "We move tactically equal weight on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price to earnings, we look for some consolidation ahead of Fed tapering, an RBI (rate) hike in February and higher energy costs," the investment banking company said. Similarly, Goldman Sachs downgraded the Indian market from overweight, stating that the recovery has already been priced in. “While we expect strong cyclical and profit recovery next year and remain medium-term constructive amid increasing digitalisation in the index, we think the recovery is well priced at current peak valuations. We, thus, take profits on our India overweight and lower it to market weight within our regional allocations,” it <a href="https://economictimes.indiatimes.com/markets/stocks/news/goldman-sachs-downgrades-india-equities-says-stocks-appear-well-priced-for-now/articleshow/87660109.cms">said</a>. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/global-investment-banks-are-telling-their-clients-to-take-profits-from-india/articleshow/87667322.cms">Small investors ahoy! Global investment banks are telling their clients to take profits from India</a> <a href="https://www.businessinsider.in/stock-market/markets/news/tata-motors-maruti-and-hdfc-are-among-the-top-losers-as-fear-of-the-new-covid-variant/articleshow/87923451.cms">Biggies like Tata Motors, Maruti, and HDFC are among top losers as fear of new COVID variant takes the wind out of Indian stocks</a> <a href="https://www.businessinsider.in/stock-market/news/pvr-inox-mainland-china-barbeque-nations-share-price-falls-due-to-new-covid-19-variant/articleshow/87925164.cms">Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant</a>

Foreign investors have pulled out nearly $7 billion in the last two months, and over $12 billion since April this year

<ul><li>At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to have a slow start on Tuesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50. However, on Monday, the US stocks ended low as investors booked profits following a sharp rally in recent weeks that led to the benchmark’s best November ever. The Dow Jones Industrial Average closed 271 points lower, and the S&amp;P 500 was down 0.46%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquired brands represent two types of products — mometasone mono-product and combination of mometasone with azelastine, which is indicated for the treatment of seasonal and perennial allergic rhinitis, it added. The company, however, did not disclose financial details. Indiabulls Housing Finance Indiabulls Housing Finance further sold a portion of its stake in OakNorth Holdings to raise approximately ₹93 crore. Hindustan Construction Company Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has received two separate contracts worth ₹236 crore from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur. M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks M&amp;M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks will be in focus during the trade today. The companies are slated to report their November sales data today, and according to <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms">Nirmal Bang estimates, </a>a strong show is expected led by strong festive demand. TVS Motor TVS Motor is set to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of ₹15 crore. SRF SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at the cost of $19 million. Premier Explosives Premier Explosives has bagged a contract worth ₹14 crore from Ministry of Defence for the supply of 26 mm Chaffs. Punjab National Bank Punjab National Bank’s base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1. Future Consumer Bennett, Coleman &amp; Company Limited (BCCL) reduced its stake in Future Consumer to 4.25% from 6.33% via open market transaction. Fortis Healthcare Aberdeen Standard Investments Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

New Delhi, Dec 24 () Former Fortis Healthcare promoter Malvinder Singh was arrested on Tuesday in another case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL), the police said.
 Singh is already in judicial custody in another case.
 RFL alleged that Malvinder Singh and his brother Shivinder Mohan Singh in connivance with the employees of Lakshmi Vilas Bank misappropriated two FDs of Rs 400 crore and Rs 350 crore made with the Lakshmi Vilas Bank by the complainant company, the police said.
 The investigation in the case, filed in September, revealed that the duo misappropriated the amount by availing loan from the bank against these FDs in RHC Holdings Pvt Ltd company they owned and further squaring off their abilities, according to the police.
 Malvinder and Shivinder systematically siphoned off and diverted public money in a clandestine manner for their own benefit, they added.
 A Delhi court had on Monday extended the judicial custody of Malvinder Singh and a co-accused by two weeks in a money laundering case related to alleged misappropriation of funds at RFL.
 Besides Malvinder, the court remanded Sunil Godhwani, former CMD of Religare Enterprises Ltd (REL), to judicial custody till January 6 next year
 Earlier, Malvinder, his brother Shivinder, and Godhwani were in judicial custody along with two others -- Kavi Arora and Anil Saxena -- in a case filed by the Economic Offences Wing (EOW) of Delhi Police.
 The five were arrested by EOW for allegedly diverting the money and investing in other companies.
 The EOW registered an FIR in March after it received a complaint from RFL's Manpreet Suri against Shivinder, Godhwani and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies. NIT CK

Malvinder Singh arrested in another case of funds misappropriation

<ul><li>Jhunjhunwala is one of the few billionaires in India whose net worth has surged during the nationwide lockdown in the country from March 23 to June 30. </li><li>Jhunjhunwala along with his family has increased his investments in listed companies by over 30% to ₹10,797 crore in the last four months. </li><li>Jhunjhunwala has 29 stocks in his portfolio, according to moneyexcel.com, ranging from Aptech Limited, Titan, CRISIL, Edelweiss Financial Services, Bilcare, Delta Corp among others. </li></ul>The market volatility may have investors jittery but there’s no stopping the Big Bull from adding to his coffers. Indian billionaire <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword> earned at least $40 million in the last four months, thanks to some of the new stocks he purchased during this COVID-19 lockdown in India. Moreover, Jhunjhunwala has become one of the few billionaires in the country to have increased their net worth during nationwide lockdown in the country from March 23 to June 30, according to Forbes real-time billionaires data. Apart from him, Radhakishan Damani and Mukesh Ambani saw a surge in their net worth. His latest investments include a 3.18% stake buy in Dishman Carbogen Amis. <div type="image" title="Rakesh Jhunjhunwala" msid="77081733" hostid="261"></div> <a href="https://www.business-standard.com/article/markets/rakesh-jhunjhunwala-s-portfolio-outperforms-net-worth-over-rs-10-000-crore-120072100483_1.html">According to Business Standard</a>, Jhunjhunwala along with his family has increased his investments in the listed companies by over 30% to ₹10,797 crore in the last four months. This includes increased investments in Rallis India, <keyword id="439363" type="ORGANIZATION" weightage="20" keywordseo="Jubilant-Life-Sciences">Jubilant Life Sciences</keyword> amongst other stocks. <div type="Article" hostid="261" msid="77102706" title="IndiaMart’s Dinesh Agarwal shares how the profit doubled during the lockdown" mstype="2" mssubtype="0"></div> These a<a href="https://trendlyne.com/portfolio/superstar-shareholders/53781/latest/rakesh-jhunjhunwala/">re the stocks that Jhunjhunwala has bet </a>on in the last three months: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Autoline Industries. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstsource Solutions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Life Sciences </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rallis India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dishman Carbogen Amcis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"></td></tr></tbody></table> Jhunjhunwala’s has 29 stock in his portfolios, <a href="https://moneyexcel.com/11499/rakesh-jhunjhunwala-portfolio-holdings/">according to moneyexcel.com</a>, <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aptech Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Man Infra Construction </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ion Exchange </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bilcare </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spice Jet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financial Services </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orient Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delta Corp </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakash Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MCX </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mandhana Retail Ventures </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstsource Solution </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dewan Housing Finance Corporation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Federal Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rallis India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fortis Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TV 18 Broadcast </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Life Sciences </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CRISIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Communication </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakash Pipes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VIP Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCC Ltd. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Autoline Industries Ltd. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dishman Carbogen Amcis </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and Astrazeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a 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Big Bull Rakesh Jhunjhunwala added nearly $40 million to net worth in the last four months⁠— these are the stocks he bet on

New Delhi, June 20 (IANS) Microsoft on Saturday revealed that people in India are using video in 22 per cent of meetings and there has been a considerable increase in Microsoft Teams usage on mobile devices in the country as organisations redefine productivity in the pandemic times. The video meet usages can grow even further in India as there is still less access to devices and stable internet in parts of the country, said Samik Roy, Country Head, Modern Workplace, Microsoft India. "The number of people turning on video in Microsoft Teams meetings had doubled from before working from home became mainstream. In fact, total video calls in Teams grew by over 1,000 percent in March 2020," Roy said in a statement on the occasion of World Productivity Day. In India, productivity at work has often been equated to one element  time and many organisations across the country are seeing the benefits of adopting Microsoft Teams. Dr Ashutosh Raghuvanshi, MD and CEO, Fortis Healthcare said that they had this tool even before the current situation, but the usage was very low. "What we are realizing is that we're able to function more than the normal level because none of us are spending time in commuting or waiting for people to join meetings physically. We are also using Teams for our internal meetings, for teleconsultations with the patients, and for our learning and development needs," informed Raghuvanshi. In sectors like manufacturing, there was initial apprehension around remote work. "Work from home will not be a taboo anymore, even for manufacturing companies like Mahindra and Mahindra. Having more digital connect, virtual meetings, people not travelling will become a very comfortable thing," said Dr Pawan Kumar Goenka, CEO and Managing Director, Mahindra and Mahindra Ltd. Anant Maheshwari, President, Microsoft India, said last mont that this one solution has taught people to actually work together and create together. The nationwide lockdown has made CEOs and CXOs, who were earlier against video calling, comfortable with Microsoft Teams in not just conferencing with customers but also doing actual collaborations and integrating business processes within the solution, Maheshwari stressed. In the month of March, the average time between a person's first and last use of Microsoft Teams each day increased by over one hour. "This data does not necessarily mean people were working more hours per day, rather that they are breaking up the day in a way that works for their personal productivity or makes space for obligations outside of work," said Roy. "Employees need to be empowered by technology  from cloud-enabled solutions and mobile apps to integrative collaboration hubs such as Microsoft Teams  allowing them to communicate and collaborate in a secured environment and in the way that works best for them," he emphasized. --IANS na/

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