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<keyword id="19929450" type="General" weightage="20" keywordseo="Shubman-Gill" source="keywords">Shubman Gill</keyword> and <keyword id="19907058" type="General" weightage="20" keywordseo="Rishabh-Pant" source="keywords">Rishabh Pant</keyword> cantered to fluent fifties as India reached 205 for three at lunch in their second innings on the third day to take total control of the first Test against Bangladesh here on Saturday. Gill (86 batting) and Pant (82 batting), who have so far added 138-runs for the unbroken fourth wicket, were at the crease at the end of the first session with India, overnight 81 for three, extending their lead to 432 runs. Gill, beginning the day from 33, and Pant, resuming from 12, exploited the inability of <keyword id="23240418" type="General" weightage="20" keywordseo="Bangladesh-bowlers" source="keywords">Bangladesh bowlers</keyword> to make the best out of a cool, damp morning with sensible shot-making. The Indian pair took on Bangladesh bowlers in their own inimitable ways. Minimalism is quintessential to Gill's batting as he plays shots with little flourish. The short-arm pull from in front of the face or that zero follow-through punch through the covers, which he often executed off Nahid Rana and Mahmud Hasan, might not be out of the batting manual but productive nonetheless. Gill took another solid step forward in his growing familiarity with <keyword id="19935483" type="General" weightage="20" keywordseo="Test-cricket" source="keywords">Test cricket</keyword> here, bringing up an individual fifty off 79 balls, and is looking good for more. Pant, on the other hand, is playing his first Test after 2022, and celebrated his re-entry with a fifty of his own after getting dismissed cheaply in the first innings. The left-hander started rather sedately, perhaps wanted to get his eye in before opening up. The breakaway moment came when he pulled off-spinner Mehidy Hasan Miraz for a four around the first drinks break of the day. Since that point, Pant's dismantling of Miraz became a feature of the innings as he brought up his fifty off 88 balls. Once that fifty was achieved, the 26-year-old unfurled some of those typical Pant shots. Pant moved around the crease like a trapeze artist, and his scooped six over fine leg off Mahmud enthralled a sizeable weekend crowd here. He was dropped on 72 by Najmul Hossain Shanto off Shakib Al Hasan as India added 124 runs in the session. SEE ALSO:<a href="https://www.businessinsider.in/tech/gadgets/news/samsung-galaxy-watch-ultra-review/articleshow/113520294.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/gadgets/news/samsung-galaxy-watch-ultra-review/articleshow/113520294.cms" target="_blank">Samsung Galaxy Watch Ultra review – premium watch with a rugged design</a><a href="https://www.businessinsider.in/stock-market/news/arkade-developers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113493854.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/arkade-developers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113493854.cms" target="_blank">Arkade Developers IPO allotment – Check allotment status, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-emerges-as-the-worlds-second-biggest-smartphone-brand-in-august/articleshow/113478178.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-emerges-as-the-worlds-second-biggest-smartphone-brand-in-august/articleshow/113478178.cms" target="_blank">Xiaomi emerges as the world’s second-biggest smartphone brand in August</a>

Gill, Pant fifties carry India to 205/3 at lunch on Day 3 against Bangladesh

India captain <keyword id="6354486" type="PERSON" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> has moved back into the top five of the International Cricket Council's (<keyword id="6355164" type="UNKNOWN" weightage="20" keywordseo="ICC">ICC</keyword>) T20I rankings for batsmen. Kohli recorded unbeaten knocks of 73 and 77 in the second and third T20Is against England. The performances helped Kohli, who has had lengthy spells as the top ranked batsman in T20Is in the past, rose to fifth on the back of his performances in the second and third T20Is. Meanwhile, <keyword id="982208" type="PERSON" weightage="20" keywordseo="Shreyas-Iyer">Shreyas Iyer</keyword> jumped 32 places to 31st while <keyword id="3142448" type="PERSON" weightage="20" keywordseo="Rishabh-Pant">Rishabh Pant</keyword> gained 30 places to reach 80th in the rankings. All-rounder <keyword id="6354853" type="PERSON" weightage="20" keywordseo="Washington-Sundar">Washington Sundar</keyword> (up two places to 11th) and seam bowlers Shardul Thakur (up 14 places to 27th) and <keyword id="479464" type="PERSON" weightage="20" keywordseo="Bhuvneshwar-Kumar">Bhuvneshwar Kumar</keyword> (up seven places to 45th) have moved up the list for bowlers. England's <keyword id="3678141" type="PERSON" weightage="20" keywordseo="dawid-malan">Dawid Malan</keyword> retains the No.1 rank among batsmen in T20Is while Jos Buttler's match-winning 83 not out in the third match has helped him advance five places to 19th position, just two shy of his career-best 17th position attained in October 2018. Jonny Bairstow, who chipped in with 40 runs and was associated in an unbroken 77-run stand with Buttler in the eight-wicket win on Tuesday, has moved up two slots to 14th position in the list led by his compatriot Dawid Malan. <keyword id="2490284" type="PERSON" weightage="20" keywordseo="Jason-Roy">Jason Roy</keyword> has advanced four slots to 24th with scores of 49 and 46 in the first two matches. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a> <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-turns-down-1-million-for-the-tweet-he-was-selling-as-an-nft/articleshow/81546434.cms">Elon Musk turns down $1 million for the tweet he was selling as an NFT</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-easemytrip-ipo-allotment-and-listing-date/articleshow/81548106.cms">EaseMyTrip IPO allotment live – how to check allotment, listing date and more</a>

Virat Kohli moves back into top-five of International Cricket Council T20I rankings for batsmen

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Reuters/Jose Luis GonzalezBorder Patrol agents are pictured during the official start for the construction of new bollard wall to replace 20-miles of primary vehicle barriers in Santa Teresa, New Mexico, United States.</div></div></div>Here is what you need to know. <a href="http://www.businessinsider.com/chinas-president-xi-moved-to-ease-concerns-about-global-trade-2018-4">Chinese President Xi Jinping moved to ease concerns about global trade</a>. Speaking at the Boao Forum, President Xi said China will protect intellectual property rights of foreign firms, helping to address one of the key concerns the Trump administration pointed to at the start of the latest trade spat.<a href="http://markets.businessinsider.com/indices">Stocks are soaring</a>. The Dow Jones industrial average is set to open higher by 291 points, or 1.21%. Tuesday's advance follows a strong overnight session that saw Hong Kong's Hang Seng (+1.65%) and Germany's DAX (+1.15%) lead the gains. <a href="http://www.businessinsider.com/stock-market-volatility-supports-forecast-of-60-drop-hussman-says-2018-4">The market's most outspoken bear sees recent turbulence fueling his forecast of a 60% stock drop - and says it's too late to get out</a>. John Hussman, the outspoken investor and former professor that's been calling for a stock market crash, says he's still dead set on sweeping equity declines totaling more than 60% - a plunge he says will so drastic that it erases the excess total return of the S&amp;P 500 index dating all the way back to October 1997.<a href="http://www.businessinsider.com/what-congress-should-ask-facebook-ceo-mark-zuckerberg-2018-4">Zuckerberg goes to Congress</a>. Facebook CEO Mark Zuckerberg will testify about the Cambridge Analytica data leak before congressional committees beginning on Tuesday.<a href="http://markets.businessinsider.com/news/stocks/tesla-stock-price-fails-to-hold-key-300-level-2018-4-1020972292">Tesla slides below a key level</a>. Shares of the electric-car maker fell 3.23% Monday to $289.63 apiece, closing below the key $300 level. <a href="http://www.businessinsider.com/dell-pivotal-pirces-ipo-592-million-2018-4">Pivotal prices its IPO</a>. Dell Technology's cloud-computing business Pivotal Software priced its initial public offering between $14 and $16 a share. It will trade under the ticker "PVTL."<a href="http://markets.businessinsider.com/news/stocks/monsanto-stock-price-is-flying-after-report-says-bayer-takeover-got-the-green-light-2018-4-1020977791">Bayer's takeover of Monsanto gets DOJ approval</a>. The Department of Justice gave the all clear for Bayer's takeover of Monsanto, sending shares of the seed maker up more than 6% on Monday.<a href="http://www.businessinsider.com/r-ubs-suspends-access-to-research-data-for-some-external-providers-2018-4">UBS suspends access to research data for some external providers</a>. In response to the European Union's Markets in Financial Instruments Directive II, UBS has suspended research data feeds to Bloomberg and other third-party platforms which are unable to ensure the data is only seen by the Swiss bank's clients, Reuters reports, citing a company memo.<a href="http://www.businessinsider.com/r-argentinas-herd-to-decline-by-as-much-as-1-million-head-of-cattle-due-to-drought-2018-4">Argentina's herd will be hit hard by drought</a>. Argentina's herd is expected to shrink by up to 1 million cattle next year as the country navigates through its worst drought in decades, Reuters says. <a href="http://markets.businessinsider.com/economic-calendar#date=04/10/2018&amp;name=&amp;countries=us&amp;eventtypes=&amp;tab=1,2,3">US economic data trickles out</a>. PPI will cross the wires at 8:30 a.m. ET. The US 10-year yield is up 2 basis points at 2.80%.

10 things you need to know before the opening bell

Yashasvi <keyword id="20066174" type="General" weightage="20" keywordseo="Jaiswal" source="keywords">Jaiswal</keyword> hit a bludgeoning half-century to steer <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords" meta.keywordsubtype="org" meta.entityname="India" meta.hostid="261" meta.entityid="India">India</keyword> to a solid 138 for two in their first innings at tea on day four of the weather-hit second Test against <keyword id="19919639" type="General" weightage="20" keywordseo="Bangladesh" source="keywords" meta.keywordsubtype="org" meta.entityname="Bangladesh" meta.hostid="261" meta.entityid="Bangladesh">Bangladesh</keyword>, here Monday. Jaiswal hammered a 52-ball 71 as India scored at over eight runs an over, and now trail the visitors by 95 runs. Earlier, Bangladesh were bundled out for 233 in their first innings, built around <keyword id="22750663" type="General" weightage="20" keywordseo="Mominul-Haque" source="keywords">Mominul Haque</keyword>'s patient hundred. The sun shone bright in the <keyword id="19921464" type="General" weightage="20" keywordseo="Kanpur" source="keywords">Kanpur</keyword> sky after two gloomy days and the on-field action finally began after losing eight sessions. Except for Mominul, none of the Bangladeshi batters applied themselves on a placid pitch that did not offer much to the Indian bowlers. Showing urgency to surpass Bangladesh total and probably push for a victory in the limited time available, India came out batting in the T20 mode. Jaiswal hit three boundaries in the opening over to stun pacer Hasan Mahmud while Rohit began by clobbering two sixes off Khaled Ahmed, and one landed on the stadium roof. The onslaught surprised the rival attack but the home fans were rewarded for flocking the stadium in the last two days despite rain. Going with a see-and-hit approach, India completed the fastest team fifty in three overs. Realising the ineffectiveness of his pacers, Bangladesh skipper Najmul Hossain Shanto introduced spinner Mehidy Hasan Miraz and he responded to the SOS call, castling Rohit. Jaiswal completed his fifty with a single off left-arm spinner Taijul Islam and went on in his aggressive fashion. His innings, which contained 12 fours and two sixes, was cut short by Mahmud. The young opener added 72 runs for the second wicket with Shubhman Gill (38). Gill (37) and Rishabh Pant (4) remained unseparated till the tea break. Earlier, pacer <keyword id="19899525" type="General" weightage="20" keywordseo="Jasprit-Bumrah" source="keywords">Jasprit Bumrah</keyword> (3/50) accounted for three batters, further establishing his brilliance, while his pace colleagues Mohammed Siraj (2/57) and Akash Deep (2/43) scalped two batters each. Spinner Ravichandran Ashwin (2/45) got rid of legendary Shakib Al Hasan, probably playing his last Test. Ravindra Jadeja toiled hard to get his 300th Test wicket and succeeded when he caught and bowled Khaled. Jadeja also became the second quickest to complete the double of 300 wickets and 3000 runs in <keyword id="19935483" type="General" weightage="20" keywordseo="Test-cricket" source="keywords">Test cricket</keyword> behind England great Ian Botham. Resuming at 107 for three, Bangladesh lost Mushfiqur Rahim (11) in the sixth over of the day when Bumrah bowled him with an angled delivery. It was an error of judgement from Rahim who left the ball, thinking it would go over the stumps but it stayed a bit low to disturb the off-stump. In the previous ball also, Rahim was troubled by an angled delivery that took the edge and zoomed to the boundary ropes. New-man in Litton Das (13) began confidently, driving a length ball from Bumrah through the cover for a four and followed that up with another solid drive in the same region. Mominul stayed solid from his end and also survived an appeal off Mohammed Siraj. The southpaw was beaten, as the ball hit his thigh-pad and DRS showed the ball had not touched his glove before being taken by Jaiswal. In the next ball, Mominul completed his half-century by pulling a short one from Siraj to the square leg boundary. Rohit, standing at mid-off, pulled a stunner from thin air when Das charged down the wicket to Siraj but stood in disbelief after his powerful hit was plucked by the Indian captain. In came Shakib (9), but he did not last long. He got his first boundary by working a full-length delivery from Siraj on the leg side. He went after Ashwin but could not connect well as his one hand came off the bat. Siraj standing at mid-off backpaddled to take a stunning catch. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank">Upcoming cars launching in India in October 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">Upcoming smartphones launching in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Yashasvi Jaiswal hammers Bangladesh attack after Mominul's ton; India 138/2 at tea

<ul><li><keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="261" meta.entityid="Ola">Ola</keyword> is reportedly looking to re-enter the <keyword id="19963428" type="General" weightage="20" keywordseo="quick-commerce" source="keywords">quick commerce</keyword> business.</li><li>The company is also planning to offer UPI services to customers.</li><li>The company’s earlier quick commerce service, <keyword id="22710114" type="General" weightage="20" keywordseo="ola-dash" source="keywords">Ola Dash</keyword> was shut in 2022.</li></ul> Ola tried its hand in the quick commerce business with Ola Dash but failed to crack the market and wind up operations in 2022. Amid the rising popularity of quick commerce apps such as <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword>, <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy Instamart" meta.hostid="261" meta.entityid="Swiggy Instamart">Swiggy Instamart</keyword> and Zepto, Ola is now looking to re-enter the business. According to a<a href="https://economictimes.indiatimes.com/tech/technology/ola-drawing-up-a-route-map-to-join-quick-commerce-party/articleshow/112354202.cms"> report</a> by Economic Times, <keyword id="20138354" type="General" weightage="20" keywordseo="ANI-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="ANI Technologies" meta.hostid="261" meta.entityid="ANI Technologies">ANI Technologies</keyword>, the parent company of <keyword id="20138355" type="General" weightage="20" keywordseo="ola-cabs" source="keywords">Ola Cabs</keyword> is planning on setting up <keyword id="21641710" type="General" weightage="20" keywordseo="dark-stores" source="keywords">dark stores</keyword> to ride the quick commerce wave. <h2>What are dark stores?</h2>Dark stores are special warehouses used to fulfil online orders. They are not open to the public and are designed to make packing and shipping items fast and efficient. Dark stores are often used by grocery stores, supermarkets, and other retailers to handle the growing demand for online shopping. The term "dark" refers to the fact that these stores are not open to the public, as they are not intended for in-store shopping. <div type="Article" hostid="261" msid="112288793" title="Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market" mstype="2" mssubtype="0"></div> According to the report, the dark stores will be operated by Ola and the company is planning on deploying robots to minimize human involvement. “It's a dark store as a service where the whole setup will be delivered with significant automation but there will be some people involved,” a source familiar with the matter told ET. <h2>Ola plans to offer UPI services</h2>It’s not just quick commerce, Ola is reportedly planning on offering UPI services to its customers. The company already has the Ola Money app, which has found few takers. The company had converted from a full wallet to a small prepaid instrument (PPI) wallet earlier this year. <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> is expected to talk about the company’s upcoming initiatives at an event on August 15. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-july-2024/slidelist/112337262.cms">Top 10 selling cars in India in July 2024 – 6 out of 10 are from Maruti Suzuki</a> <a href="https://www.businessinsider.in/stock-market/news/ola-electric-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112319824.cms">Ola Electric IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart

New Delhi, <keyword id="20004114" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="keywords">Vijay Shekhar Sharma</keyword>, one of the most recognised faces of India's fintech industry, has seen a fair share of controversies. Sharma launched <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword> - an acronym for 'pay through mobile' - offering mobile recharges. He launched wallet services in 2011 but the big push came with the 2016 demonetisation. He took out front-page ads in top newspapers with Prime Minister Narendra Modi's photo, calling demonetisation the "boldest decision in the financial history of independent India". With fewer currency notes in circulation, Paytm was on a roll. Sharma made a splash in 2018 by getting USD 300 million investment in Paytm from <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway. *Controversies* Paytm was mired in controversies with its Chinese connection following huge investments from Alibaba Group. The Chinese internet firm became the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offer. Alibaba group firm Antfin sold around 5 per cent shares to lower its stake below 25 per cent to comply with regulatory requirements at the time of IPO. To shed its Chinese-owned entity image, Paytm in August 2023 announced that founder and CEO Vijay Shekhar Sharma would acquire a 10.3 stake in Antfin through his overseas entity Resilient Asset Management BV which will make him the largest stakeholder in the company with 19.42 per cent stake. In return, Resilient issued a debt instrument --optionally convertible debentures, to Antfin thereby maintaining the economic interest of Alibaba group firm. With this transaction, Antfin's direct stake in Paytm was reduced to 13.5 per cent. Antfin further sold 3.6 per cent in Paytm to bring its shareholding to less than 10 per cent and at present holds 9.89 per cent of the fintech firm. The company's market cap has eroded drastically since the time of its listing. The company's IPO opened on November 8, 2021, in the price band of Rs 2,080-2,150 per share. The Paytm IPO made history with over Rs 18,300 crore share sale 'making it the largest public issue in India's corporate history. But the company's stock made a weak debut in the market on November 18 and hit a lower circuit after recording about 20 per cent decline during trading hours. It finally closed at Rs 1,560, down by about 27 per cent, compared to its issue price of Rs 2,150. Since then, Paytm shares have not been able to cross even half the mark of the issue price. After the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s January 31 move, One97 Communications shares tanked around 40 per cent to close at Rs 487.05 on BSE on Friday. Billionaire businessman <keyword id="19952201" type="General" weightage="20" keywordseo="warren-buffet" source="keywords">Warren Buffet</keyword>'s Berkshire Hathaway sold its stake in Paytm at a loss of 31 per cent per share in November 2023. Berkshire Hathaway had invested in Paytm for about Rs 1279 per share but sold it for Rs 877.29 apiece. At present, Cayman Island-registered SAIF III Mauritius Company Limited is the single largest direct shareholder in Paytm with a 10.83 stake followed by Sharma's Resilient Asset Management BV with a 10.29 per cent stake. SAIF Partners is led by Chinese-origin entrepreneurs with Andrew Y Yan as its managing partner. *Paytm run-ins with RBI* RBI on June 19, 2018, prohibited Paytm Payments Bank from opening any new account and wallet with effect from June 20, 2018, on account of supervisory concerns, which were lifted by RBI on December 27, 2018, with effect from December 31, 2018. The Office of Banking Ombudsman issued a show-cause notice dated March 6, 2019, for Paytm Payments Bank's failure to monitor a certain account maintained with it which had shown a sudden increase in the velocity of daily transactions involving immediate transfer to other banks. The actions were found to be in the violation of RBI's provisions on KYC. RBI rejected Paytm Payments Services Ltd's (PPSL) application to operate as a payment aggregator on November 25, 2022. The banking regulator asked the firm to re-submit applications within 120 days after it gets government approval on investment made by OCL into PPSL as per FDI guidelines. The regulator asked PPSL to continue operations with the condition that no new merchants should be onboard. After completion of 120 days, RBI again granted PPSL an extension but without removing the bar on new merchant onboarding. RBI issued a show cause notice to PPBL on July 29, 2021 for submitting false information to RBI confirming completion of the transfer of the Bharat Bill Payment Operating Unit ("BBPOU") by OCL to PPBL on August 28, 2017. The actual transfer of the BBPOU business by the Company to PPBL was completed only by March 31, 2021. RBI on October 1, 2021, imposed a penalty amounting to Rs 1 crore on PPBL for a contravention of the Payment and Settlement Systems Act, 2007. RBI imposed a penalty of Rs 5.93 crore on PPBL on October 10, 2023, after it found several non-compliances including banks failure to identify beneficial owners in respect of entities on-boarded by it for providing payout services. RBI found that PPBL did not monitor payout transactions and carry out risk profiling of entities availing payout services, breached the regulatory ceiling of end of the day balance in certain customer advance accounts availing payout services. The banking regulator found that PPBL reported a cyber security incident with delay and failed to implement device binding control measures related to 'SMS delivery receipt check'. PPBL video-based customer identification process infrastructure failed to prevent connections from IP addresses outside India.

Vijay Shekhar Sharma: The controversies of the architect of fintech

<ul><li>The Indian stock markets could open on a positive note on September 21, after experiencing a bear hug on the previous day. </li><li>Trends on SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> showed an increase of 47 points, suggesting that Nifty could open in the green amid negative cues in other Asian markets. </li><li>SBI Cards, Adani Ports and HCL Tech could be among the top stocks to watch out for on September 21. </li></ul><cmsannotation type="cmsannotation" annotationid="SBI Card &amp; Payment Services" comment="subhead" text="SBI Card &amp; Payment Services">SBI Card &amp; Payment Services</cmsannotation> US-based private equity firm The Carlyle Group is planning to sell a 3.4 percent stake in the company, valued at ₹3,267 crore, in the price range of ₹1,021 to ₹1,072 per share. <cmsannotation type="cmsannotation" annotationid="Adani Ports &amp; SEZ" comment="subhead" text="Adani Ports &amp; SEZ">Adani Ports &amp; SEZ</cmsannotation> Received approval from the Competition Commission of India to acquire a 10.4 percent stake in the Gangavaram Port project in Andhra Pradesh. <cmsannotation type="cmsannotation" annotationid="HCL Tech" comment="subhead" text="HCL Tech">HCL Tech</cmsannotation> Bagged a digital transformation order from US-based MKS Instruments Inc., for five years. <cmsannotation type="cmsannotation" annotationid="IPO Watch" comment="subhead" text="IPO Watch">IPO Watch</cmsannotation> Paras Defence and Space Technologies IPO worth ₹171 crore to kick off today, with a price band of ₹165-175 per share. <cmsannotation type="cmsannotation" annotationid="Cadila Healthcare" comment="subhead" text="Cadila Healthcare">Cadila Healthcare</cmsannotation> Its subsidiary has entered into an agreement with Integrace to sell two brands, Mifegest and Cytolog. <cmsannotation type="cmsannotation" annotationid="Kitex Garments" comment="subhead" text="Kitex Garments">Kitex Garments</cmsannotation> Entered into a memorandum of understanding with the Telangana government to invest ₹2,406 crore in the state. <cmsannotation type="cmsannotation" annotationid="Yes Bank" comment="subhead" text="Yes Bank">Yes Bank</cmsannotation> Partnered with Visa to offer credit cards to its customers after the ban on MasterCard. <cmsannotation type="cmsannotation" annotationid="Nestle India" comment="subhead" text="Nestle India">Nestle India</cmsannotation> Reports suggest that the company’s chairman has revealed that it may face headwinds in 2022 due to rising coffee prices globally. <cmsannotation type="cmsannotation" annotationid="Action Construction Equipment" comment="subhead" text="Action Construction Equipment">Action Construction Equipment</cmsannotation> Launched its qualified institutional placement on Monday, with the price band fixed at ₹254.55 per equity share. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-for-sansera-engineering-ipo/articleshow/86380353.cms">Sansera Engineering IPO — How to check allotment status, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-3-foldable-smartphone-review/articleshow/86366351.cms">Samsung Galaxy Z Fold 3 review: Creasing through the folds</a> <a href="https://www.businessinsider.in/tech/news/emmys-2021-netflix-beats-hbo-for-the-first-time-with-the-most-number-of-awards/articleshow/86365603.cms">Emmys 2021: Netflix beats HBO for the first time with the most number of awards</a>

SBI Cards, Adani Ports, HCL Tech and other top stocks to watch out for on September 21

<ul><li>US stocks closed at record highs on Friday as investors mulled how much further the market could climb.</li><li>Optimism around vaccinations and new stimulus continue to offset weak jobs data. </li><li>Bitcoin traded around $47,500 after notching a record high late Thursday. Adoption from BNY Mellon, Mastercard, and Tesla sent prices soaring through the week.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingestgest">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>US stocks closed at all-time highs on Friday as the month's rally charged on.Momentum from Thursday's session continued, as investors weighed whether stocks have room to move higher. While Democrats are pushing forward with a $1.9 trillion relief package, stretched valuations and lasting pain in the labor market stand to curb further gains."Investors have been bracing for a selloff as stocks continue to defy gravity," Lindsay Bell, chief investment strategist at Ally Invest, said. "While stocks may look stretched and feel ripe for a selloff, it is best to prepare your portfolio for the potential of both more upside and downside."Here's where US indexes stood at the 4 p.m. ET close on Friday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,934.99, up 0.48%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Dow Jones Industrial Average</a>: 31,458.99, up 0.09% (28.29 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 14,095.47, up 0.5%</li></ul>Read more: <a href="https://www.businessinsider.com/stocks-to-buy-aerospace-stock-picks-vaccine-rollout-deutsche-bank-2021-2">Deutsche Bank says 'the time is now' to get bullish on the aerospace sector and handpicks 7 stocks to buy - including one with an upside of over 40%</a><a href="https://www.businessinsider.com/bitcoin-price-prediction-100k-after-tesla-investment-dogecoin-brandon-mintz-2021-2"></a>The emergence of new COVID-19 strains threatens optimism around an improving pace of vaccination. The US administered 1.62 million doses per day on average last week, bringing the nationwide total to 48 million vaccinations. President Joe Biden announced Thursday the drive will accelerate further still, with the US completing orders for 100 million additional doses from Pfizer and Moderna.Public health experts have warned the shots are less effective against new strains of COVID-19, hampering forecasts for a complete elimination of the virus.Coronavirus case counts suggest that, so far, the strains aren't plunging US into another wave of infections. The country reported 103,024 new cases on Thursday, down significantly from levels seen just one month ago. Hospitalizations declined further to 74,225, according to <a href="https://covidtracking.com/data">The COVID Tracking Project</a>.Read more: <a href="https://www.businessinsider.com/investing-strategy-for-market-crashes-risk-parity-etf-damien-bisserier-2021-2">One of Wall Street's most popular self-defense strategies failed during the coronavirus meltdown. Ex-Bridgewater advisor Damien Bisserier was among the few who made it work, and he told us how he did it.</a>Energy and material stocks outperformed through the session. The utilities and real estate sectors lagged.Earnings season continued. <a href="https://markets.businessinsider.com/stocks/dis-stock">Disney</a> gained after reporting earnings and revenue above Wall Street's expectations. Subscribers for its Disney Plus streaming service neared 95 million even as a free-trial deal with Verizon customers ended, the company said.<a href="https://markets.businessinsider.com/news/stocks/bumble-stock-price-initial-public-offering-ipo-whitney-herd-bmbl-2021-2-1030077857">Bumble gained again</a> after soaring 64% in its Thursday trading debut. The dating app raised $2.2 billion on Wednesday offering 50 million shares for $43 each. The post-IPO pop suggests demand for new offerings will remain strong in 2021.<a href="https://markets.businessinsider.com/news/stocks/coherent-stock-price-surges-iv-ii-buyout-offer-2021-2-1030078771">Coherent climbed</a> after electronic-parts manufacturer <a href="https://markets.businessinsider.com/stocks/iivi-stock">II-VI Incorporated</a> bid $260 per share to acquire the company. Coherent has been at the center of a bidding war in recent weeks that also includes <a href="https://markets.businessinsider.com/stocks/lite-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Lumentum</a> and <a href="https://markets.businessinsider.com/stocks/mksi-stock?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">MKS Instruments</a>.<a href="https://markets.businessinsider.com/news/stocks/fisker-stock-price-morgan-stanley-overweight-stands-out-ev-space-2021-2-1030078363">Electric-vehicle company Fisker soared</a> after <a href="https://markets.businessinsider.com/stocks/ms-stock">Morgan Stanley</a> analysts deemed the firm one of the "most compelling strategies and positive risk-reward skews" in the sector. The bank initiated coverage on the company with an "overweight" rating.Bitcoin stabilized around $47,500 after falling from <a href="https://www.businessinsider.com/bitcoin-price-climbs-to-a-new-record-high-cryptocurrency-2021-2">a record-high of 48,925.53</a> Thursday night. Backing from industry giants including <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> and <a href="https://markets.businessinsider.com/stocks/bk-stock">BNY Mellon</a> has reinvigorated the cryptocurrency and lifted prices throughout the week.Spot gold edged as much as 0.81% lower, to $1,810.67 per ounce. The US dollar strengthened against a basket of Group-of-20 currency peers and Treasury yields climbed.Oil prices erased early losses and climbed into the afternoon. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">West Texas Intermediate crude</a> rose as much as 2.7%, to $59.82 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, gained 2.8%, to $62.83 per barrel, at intraday lows.Read more: <a href="https://www.businessinsider.com/stock-market-biggest-increase-in-short-interest-gamestop-reddit-goldman-2021-2">Goldman Sachs identifies the 25 stocks that short-sellers piled the most bearish bets upon even as Reddit traders squeezed out Wall Street</a>

US stocks close at record highs as traders weigh recovery optimism against valuation concerns

<ul class="summary-list"><li>A <keyword id="10981755" type="UNKNOWN" weightage="60" keywordseo="unit-investment-trust">unit investment trust</keyword> (<keyword id="292912" type="ORGANIZATION" weightage="60" keywordseo="UIT">UIT</keyword>) is a type of investment fund that offers a fixed portfolio of stocks, bonds, and other assets for a set period of time. </li><li>UIT portfolios are typically fixed and not actively managed or traded.</li><li>UITs are particularly popular as diversification tools for hands-off investors and the retirement community, where stability is prized.</li></ul>If you've avoided mutual funds because of high management fees or how frequently they can be traded, you might benefit from a closer look at the unit investment trust, or UIT. Like mutual funds, UITs pool investor funds to purchase a series of assets, which are then bundled and offered up as a single unit - making them great for portfolio diversification.Unlike mutual funds, UITs are designed to be bought and held until a specific maturity date, with extremely limited trading in the meantime. Because of this, the funds tend to be particularly popular with <a href="https://www.businessinsider.com/personal-finance/what-is-buy-and-hold-investing-strategy" target="_blank" rel="noopener">buy-and-hold investors</a> where stability is more highly valued. As of December 2020, the <a href="https://www.ici.org/research/stats/uit/uits_02_21" target="_blank" rel="noopener">Investment Company Institute</a> (ICI) reported that there were 4,310 outstanding UITs, representing $77.85 billion invested, so a booming industry awaits the interested investor.<h2>What is a UIT?</h2>A UIT is one of three basic types of <a href="https://www.investor.gov/introduction-investing/investing-basics/glossary/investment-company" target="_blank" rel="noopener">investment companies</a>. The other two types of investment companies are open-end funds and closed-end funds, which we'll cover later. UITs offer investors a fixed portfolio that can include stocks, bonds, or other securities in the form of redeemable units. They're public investments that are bought and sold directly through the company issuing them, or through a broker working as an intermediary. Investors can redeem UITs after a set period of time passed, known as the maturity date.<h2>How does a UIT work?</h2>The goal of a UIT is that the passively held assets it contains will provide capital appreciation or <a href="https://www.businessinsider.com/what-is-a-dividend" target="_blank" rel="noopener">dividend income</a> throughout the life of the trust. And while that outcome isn't guaranteed, UITs are regulated through the Securities and Exchange Commission (SEC), so concerned investors can breathe easier. Every UIT must register through the commission, which then enforces requirements about everything from where the fund can invest to under what circumstances trades can be made.The average UIT is typically made up of mostly stocks and bonds, but can also contain assets like mortgages, <a href="https://www.businessinsider.com/what-is-a-reit" target="_blank" rel="noopener">real estate investment trusts</a> (REITs), <a href="https://www.businessinsider.com/master-limited-partnership-mlp" target="_blank" rel="noopener">master limited partnerships</a> (MLPs), hybrid instruments like <a href="https://www.businessinsider.com/what-is-preferred-stock" target="_blank" rel="noopener">preferred shares</a>, and beyond. These assets are often fixed around a broad theme, like American stocks offering historically high dividends, or <a href="https://www.businessinsider.com/what-is-a-corporate-bond" target="_blank" rel="noopener">corporate bonds</a> from companies in a specific sector.Money managers select assets for inclusion at the creation of the trust, aiming for securities they think will offer the most capital appreciation over time. They also set the maturity date for the fund, which can be anywhere between 15 months and 30 years. After that, the fund remains largely undisturbed until its maturity date.A prosperous UIT will earn its investors income in two different ways: in the form of quarterly or monthly dividends throughout the life of a fund, and as capital appreciation when the fund matures. Once your UIT expires, you have the option of taking delivery of the underlying assets into your own brokerage account, reupping into a similar or identical trust, or liquidating your holdings, which would give you the current cash value.<h2>UITs vs. mutual funds </h2>Mutual funds and UITs are similar in that they're pooled funds overseen by a professional money manager, and are subject to SEC regulation. Here's how the two assets diverge:<ul><li>Mutual funds are actively managed and UITs are not: The ability to buy and sell assets within a mutual fund increases the potential for <a href="https://www.businessinsider.com/what-are-capital-gains" target="_blank" rel="noopener">capital gains</a> - and, of course, losses. Since UITs don't actively trade, fees are lower, and as fixed income investments, their underlying securities do not change except in rare cases like bankruptcy or merger.</li></ul><ul><li>Mutual funds and UITs structure dividends differently: While mutual funds are designed to reinvest your dividends, UIT investors can miss out during market upswings, as the latter doesn't allow for the purchase of additional shares.</li></ul><ul><li>UITs have a maturity date, while mutual funds do not: Much like bonds or <a href="https://www.businessinsider.com/personal-finance/what-is-a-cd-certificate-of-deposit" target="_blank" rel="noopener">CDs</a>, UITs have defined lifespans and set metrics to hit before their expiration. This makes UITs, by their nature, a more long-term investment than mutual funds.</li><li>Mutual funds and UITs offer different ways to invest: If you have the cash to invest in a mutual fund, you can purchase shares on demand, as their quantity is limitless. But since UITs have a set limit or shares released upon its initial public offering (<a href="https://www.businessinsider.com/what-is-ipo">IPO</a>), you have to invest within that window or be subject to the whims of the secondary market.</li></ul>Each investment type has its own limits. But by and large, the reason you'd see a portfolio organized as a UIT instead of a mutual fund is to minimize both short-term and long-term expenses. UITs come with much lower expense ratios and also come with favorable tax terms. Because of the way <a href="https://www.irs.gov/taxtopics/tc409" target="_blank" rel="noopener">capital gains taxes are structured</a>, it's possible to lose money on a mutual fund and pay taxes on gains you never actually appreciated. For example, if the shares were sold right before you got your hands on them, you could find yourself with a shared tax liability for someone else's capital gains.But that won't happen with a UIT. Because the securities are bundled when you place the order and not before, the original value - or cost basis, as it's termed - is specific to you and can't burn you down the road.<h2>Who should buy UITs?</h2>UITs have benefits to offer every investor, but they're particularly compelling for those who aren't interested in building a portfolio security by security, or who don't want to pay the high expense ratios on <a href="https://www.businessinsider.com/personal-finance/how-to-invest-in-mutual-funds-step-by-step-guide" target="_blank" rel="noopener">actively managed mutual funds</a>. Plus, the lower buy-ins on UITs make them more accessible for newer investors or those with less capital.UITs are also quite popular with those at or close to retirement age because they tend to be more stable investment vehicles. While UITs might not have the growth potential of a different asset class, their buy-and-hold strategy is lighter on risk as well. From the very start, you'll know exactly where you're invested, how long that investment will last, and roughly how much income you can expect from your investment, all without having to wait to pore over a prospectus. If you're looking to join the ranks of UIT investors, these funds can be purchased directly from the issuer, or bought and sold on the stock exchange. Talk to your financial adviser about which UIT might be a match for you and your situation.<h2>The financial takeaway</h2>As an investment, UITs are a different option from mutual funds or closed-end funds that offer a winning combination of low costs, reliability, tax protection, and fairly predictable gains. There are certain pitfalls, of course, like a lack of flexibility and a potential cap on earnings, since dividends can't be reinvested. But if you're nearing retirement or simply trying to stretch a dollar, UITs can prove to be a plum choice for the (semi) conservative investor looking to diversify their portfolio.<a data-type="5dee79d5fd9db265fd2bf528">How to invest in mutual funds and grow your money for retirement, a bucket-list trip, or any other long-term goal</a><a data-type="5fa1a11d19bb5e18580dbc66">Dividends are payments made by a company to its shareholders - here's how they work</a><a data-type="5f886ff851467218126c05d1">Passive investing is a long-term wealth-building strategy all investors should know - here's how it works</a><a data-type="5f52714cce3d6947b55a3bf1">REITs are a way to own real estate without becoming a landlord - here's how they work and ways to invest</a>

What is a unit investment trust? An easy way to build diversification while earning steady income

<div class="KonaFilter image-container display-table float_right"><div><div class="image">Reuters/ Rick WilkingLeon Cooperman, the founder of Omega Advisors.</div></div></div>On August 6, billionaire hedge fund manager Leon Cooperman took the unusual step of dialing in to an earnings call for one of his fund's holdings and asking a question.It was a second-quarter <a href="http://www.businessinsider.com/sunedison-hurts-einhorn-cooperman-2015-8">earnings call for SunEdison</a>, a solar-energy company that went public in 1995. At the time, Omega was the 11th-biggest shareholder of SunEdison with 8.8 million shares.It's a large stake, but it is still unusual for Cooperman to pick up the phone to publicly ask a question on a company's quarterly conference call.These were no ordinary circumstances, however. After enjoying the benefits of a classic Wall Street hedge fund pile-in, when the smartest money in the stock market wants nothing more than to buy, buy, buy, SunEdison was crashing.Cooperman wanted to know if its executives would throw him and other investors a bone and buy back some stock. They responded, in no uncertain terms, that they would not.Since that call, SunEdison's stock has fallen a further 80%. Its two subsidiaries, TerraForm Global and TerraForm Power, have seen their stocks fall 64% and 73%, respectively. There have been management shake-ups at both the subsidiaries.The stock price collapses have burned some of the biggest investors in the business, including Cooperman, David Einhorn of Greenlight Capital and David Tepper of Appaloosa Management.And it is all because of doubts over a type of financial engineering which fueled explosive growth in the solar sector for two years, and now has investors questioning the entire sector.<h2>What's a yieldco?</h2>The shift in fortunes has been brutal. At an event in October last year, David Einhorn of Greenlight Capital <a href="http://www.businessinsider.com/david-einhorn-robin-hood-presentation-2014-10?op=1">called SunEdison</a> "a well-run, financially savvy company, benefiting from an open-ended growth opportunity trading at a bargain price."He priced the stock at $32 a share. It's now trading at about $3.The "open-ended growth opportunity" Einhorn was referring to is made possible by something called a "yieldco." It's the magical instrument that fueled SunEdison's growth and caught Wall Street's eye in the first place.<div class="KonaFilter image-container display-table float_left"><div><div class="image">Thomson ReutersDavid Einhorn.</div></div></div>A yieldco is a little like a real-estate investment trust or a master limited partnership. They are created by a parent company and bundle long-term operating assets together, with these cash flows paid out in dividends.Solar manufacturers created yieldcos as separate entities that would buy up the solar projects manufacturers built in "drop-down transactions."SunEdison has two yieldcos, TerraForm Power and TerraForm Global. The parent company owns a majority stake in both companies. There are eight <a href="http://www.bloomberg.com/news/articles/2015-11-24/battered-yieldcos-still-offer-returns-after-54-share-slump">publicly traded yieldcos in North America in total</a>.The appeal for the parent company is that, in hiving off the operational assets that have predictable cash flows because of long-term contracts, they reduce their own cost of financing.The appeal for investors is in the name: These are yield companies. Having a public company with supposedly secure cash flows delivering 4% or 5% in the shape of dividends is attractive in a low-interest-rate environment.This was supposed to be a sleepy little bet. It was supposed to be like landing on the Electric Company in Monopoly, or buying JP Morgan stock after 2012. Shareholders got fat and happy on promises of growth and consistent dividend payouts.With this story in hand, yieldcos became the belle of Wall Street's ball in 2014. Over the course of 2013 and 2014, 15 yieldcos went public raising $12 billion in capital <a href="http://www.forbes.com/sites/greatspeculations/2015/09/18/why-have-solar-yieldco-stocks-been-trending-lower/">according to Bloomberg</a>. Then in early 2015, the Global Yieldco Index, <a href="http://www.globalxfunds.com/YLCO">an ETF,</a> was created.The ETF never really got a chance to shine before the crash on July 20, though. That's when this whole entire theory was put to the test.<h2>The accidental reveal</h2>On July 20 <a href="http://www.bloomberg.com/news/articles/2015-07-20/sunedison-agrees-to-acquire-vivint-solar-for-2-2-billion">SunEdison bought Vivint</a>.Vivint is the second-largest installer of residential solar panels in the US. SunEdison financed the deal with debt and by selling $922 million of assets to TerraForm Power.<div class="KonaFilter image-container display-table"><div><div class="image">Investing.com</div></div></div>The deal marked a shift for SunEdison, which had previously focused on bigger public projects with more trustworthy counterparties. Going into residential solar panels marked a departure for the firm, and led Wall Street to start asking questions. "This deal sparked concerns about the quality of underlying cash flows, the premiums being paid for portfolios, and underlying discounted cash flow assumptions," said UBS in a recent note.That's when the stock started to swan dive.It was around this time that SunEdison took TerraForm Global public. The IPO disappointed. The market priced 45.5 million shares of TerraForm Global at $15 a share, rather than the 56.6 million shares priced at $19-$21 a share SunEdison had sought.And then a few weeks later, third-quarter earnings disappointed as well.One key thing to realize here is that it is the parent solar manufacturers that are most vulnerable.That's because, as <a href="http://www.bloomberg.com/news/articles/2015-11-24/battered-yieldcos-still-offer-returns-after-54-share-slump">Marathon Capital LLC</a> argued in a recent report, yieldcos have their power purchase agreements and 15 gigawatts of power plants worth $35 billion. The parents, on the other hand, have lots of costs and not much revenue."SunEdison still believes in the value of the yieldco model," a representative told Business Insider by email. "The long term contracted cash flows with no fuel risk and strong creditworthy counterparties are attractive to our investors."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Carlos Barria/Reuters</div></div></div>The SunEdison stock kept falling through September. Then in October the company called an off-cycle conference call and lowered guidance. It also said it was going to stop making drop-down deals through 2016 and would focus on cutting costs. Investors clamored for third-party sales outside the yieldco structure.November was chaos as more information about SunEdison's financials hit the Street. <a href="http://www.businessinsider.com/sunedison-is-getting-obliterated-2015-11">Cash commitments were disclosed</a>. Third-quarter earnings showed thinning margins. Things started happening really fast.<ul><li>Analysts at CreditSights noted that SunEdison changed the classification of $700 million worth of debt from "non-recourse" to "recourse." That meant that lenders could seek financial damages if SunEdison defaults on the debt.</li><li>SunEdison and Terraform Power did a major conflicts committee <a href="http://investors.sunedison.com/phoenix.zhtml?c=106680&amp;p=irol-newsArticle&amp;ID=2114583">board shakeup,</a> and TerraForm Power's CEO and CFO were replaced with executives tied to SunEdison. Specifically, former SunEdison CFO Brian Wuebbles became CEO of both yieldcos and a SunEdison board member, Peter Blackmore, became Chairman of the companies.</li><li>SunEdison entered into a transaction with its Global YieldCo and paid off some money it owed to TerraForm Power.</li></ul>But none of it helped. The stock is still trading below $4. Investors are still asking questions. UBS recently cut its price target from $14 a share to $6 a share. And now SunEdison has gone back to saying that it will in fact do drop-down transactions in 2016.When asked about this reversal from a strong commitment to seeking third-party deals, a SunEdison spokesperson pointed Business Insider to a statement from Emmanuel Hernandez, SunEdison's executive chairman. He said that "the company would focus on the organic development opportunities that lie ahead in order to deliver value for shareholders."Good to know. It also good to know that two TerraForm Power board members resigned three days before SunEdison announced the yieldco's board and executive shakeup.<a href="http://ir.terraform.com/phoenix.zhtml?c=253464&amp;p=irol-secText&amp;TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwNjAxODA1JkRTRVE9MiZTRVE9JlNRREVTQz1TRUNUSU9OX0VYSElCSVQmZXhwPSZzdWJzaWQ9NTc%3d">Both</a> <a href="http://ir.terraform.com/phoenix.zhtml?c=253464&amp;p=irol-secText&amp;TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwNjAxODA1JkRTRVE9MiZTRVE9JlNRREVTQz1TRUNUSU9OX0VYSElCSVQmZXhwPSZzdWJzaWQ9NTc%3d">letters</a> had basically the same language:I am resigning from the Board of Directors of both the above referenced companies effective immediately.The respective Conflicts Committees, as constituted before today, together with independent advisors, had been working hard and in good faith to protect the interests of the stockholders of the two companies.As a result of today's actions of each of the Boards, I don't believe I will be able to do so going forward and therefore resign.The letters were dated November 20, and disclosed in a government filing on November 27. That was the day after Thanksgiving, or Black Friday.<h2>Make someone (un)happy, and you'll be (un)happy too</h2>On Tuesday, billionaire investor David Tepper, who has a stake in TerraForm Power (TERP), <a href="http://www.businessinsider.com/tepper-terraform-power-letter-2015-12">sent out a rare public letter</a> to the company's board. In it, he accused SunEdison of unloading low-grade assets onto TerraForm Power, and stacking the board with loyalists who would do its bidding.<div class="KonaFilter image-container display-table float_left"><div><div class="image on-image">Reuters/ Brendan McDermid</div></div></div>He cited the Vivint acquisition, among other deals, as proof of the former. His closing statement may or may not have been a warning."As previously suggested, substantial further disclosures are incumbent on TERP so that investors can assess the full impact of the pending transactions, the relationship between TERP and its 'Sponsor,' and the circumstances surrounding the changes in TERP's management and Board," Tepper wrote in closing. "We look forward to such disclosures and stand ready to meet and discuss any of the issues raised by this letter. In the meantime, we expect the Board and the Conflicts Committee to respect and defend the integrity of TERP's corporate identity and the interests of its stakeholders. We reserve all rights accordingly."In other words, do your job protecting shareholders or we'll do it for you. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/secrets-wall-street-slavery-terrorism-hidden-vaults-finance-stock-exchange-2015-10">The secrets of Wall Street: slavery, terrorism, and hidden vaults </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="M4cmUxeDrzrsToQqtxZ01y-f5fZbS0kS" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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