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India is taking a strong stance against privacy cryptocurrencies. The Financial Intelligence Unit has directed crypto exchanges to stop dealing in these virtual assets. This move aims to curb money laundering and mask transaction trails. Privacy coins like Monero and Zcash use advanced cryptography to hide user identities and transaction details. This directive could significantly impact trading on recognized platforms.
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News and Media
Kalyan Jewellers' shares plummeted over 12% on Wednesday, marking their steepest single-day fall in three years and extending a nine-session losing streak. Investors are nervous due to concerns about a mutual fund potentially reducing its stake, coupled with an increase in promoter share pledging. Margin calls also contributed to the significant decline.
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News and Media
FMCG companies anticipate mid-single to low-double-digit revenue growth in the December quarter, fueled by volume increases, easing GST disruptions, and stable pricing. Resilient rural demand and portfolio premiumization are key drivers, with ITC and HUL expected to show healthy improvements. Nestle India is poised for double-digit revenue growth as post-GST normalization continues.
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News and Media
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