Crypto exchange Coinbase faces US SEC probe over cryptocurrency listings

Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased.

In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.

Crypto trading platform Coinbase Global Inc is facing a US Securities and Exchange Commission (SEC) investigation on if it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on 26 July.

According to details, the SEC's is looking into an alleged insider trading scheme that was revealed last week.

Earlier last week, US prosecutors in Manhattan charged a former product manager at Coinbase and two others with wire fraud in thefirst insider trading case involving cryptocurrency, added the report.

10 Best New Cryptos on Coinbase to be Announced in 2022

Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased

The SEC on 21 July had alleged that the that cryptocurrency exchange Coinbase listed nine crypto asset securities. In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.

Meanwhile, Coinbase had disputed the SEC’s allegations. "Coinbase does not list securities on its platform. End of story,"Bitcoin.com quoted Coinbase's chief legal officer Paul Grewal as saying.

So, if you are looking for any of the services, you can reach out to us at: BEST STOCK STIPS.

Listed in June 2022, this stock has risen 54% from its issue price

                                        Aether Industries IPO was open from May 24-26

 Adding on to the strong performance of the stock, brokerage house HDFC Securities initiated coverage on the stock with a 'buy' call. The brokerage has a target price of ₹1,045 for the stock.]

Shares of Aether Industries have given robust returns to its investors since listing From June 3, (it's listing day), the stock has risen 41 percent till date. The stock listed at a premium to its issue price and was locked in a 10-percent upper circuit throughout the day, the only stock to do so on a listing day in 2022.

From June 3, (it's listing day), the stock has risen 41 percent till date. The stock listed at a premium to its issue price and was locked in a 10-percent upper circuit throughout the day, the only stock to do so on a listing day in 2022.

The ₹808-crore IPO of the company was subscribed 6.26 times during its public offer. Aether Industries Limited manufactures and sells advanced intermediates and specialty chemicals in India and internationally. It is focused on producing advanced intermediates involving complex and differentiated chemistry and technology core competencies. It serves pharmaceutical, agrochemical, material science, coating, high-performance photography, additive, and oil and gas industries.

Adding on to the strong performance of the stock, brokerage house HDFC Securities initiated coverage on the stock with a 'buy' call. The brokerage has a target price of ₹1,045 for the stock. This indicates a 62 percent potential upside from its issue price of ₹642 and a 6 percent upside from the current levels.

As per the brokerage, Aether is more than doubling its manufacturing capacity by 2023-end. Augmentation of capacity will not only allow it to fulfill the demand of the existing and potential customers for existing products but also provide an opportunity to launch new products, HDFC pointed out.

Business Model 

"Aether Industries Ltd has a technology-oriented business model and it sells innovations in chemistries and technologies. Competencies in eight chemistries and eight technologies have enabled the company to successfully build all three of its business verticals—large-scale manufacturing, contract manufacturing and contract research and manufacturing services (CRAMS)—in less than six years of operation," the brokerage said in its report.

The brokerage further highlighted that Aether’s business model compels it to regularly launch products and add competencies. Moreover, the firm is tripling its research and development (R&D) infrastructure and strengthening its team size which will support its growth pace, said HDFC.

Check stock trading plateform latest updates, valuation and more. Check eveything you need to know about by clicking <<<<<<<<<< Stock future tips.

Hindustan Unilever shines on reporting 23% rise in Q2 consolidated net profit

Hindustan Unilever is currently trading at Rs. 2040.00, up by 25.30 points or 1.26% from its previous closing of Rs. 2014.70 on the BSE.

The scrip opened at Rs. 2052.00 and has touched a high and low of Rs. 2052.90 and Rs. 2028.10 respectively. So far 30615 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2101.50 on 23-Sep-2019 and a 52 week low of Rs. 1500.40 on 15-Oct-2018.

Last one week high and low of the scrip stood at Rs. 2052.90 and Rs. 1936.50 respectively. The current market cap of the company is Rs. 436144.69 crore.

The promoters holding in the company stood at 67.18%, while Institutions and Non-Institutions held 19.07% and 13.74% respectively.

Hindustan Unilever has reported a 21.18% rise in its net profit at Rs 1,848 crore for the quarter ended September 30, 2019, under review as compared to Rs 1,525 crore for the same quarter in the previous year. The total income of the company increased by 5.17% at Rs 10,032 crore for Q2FY20 as compared to Rs 9,539 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 23.42% in its net profit at Rs 1,818 crore for the quarter ended September 30, 2019, under review as compared to Rs 1,473 crore for the same quarter in the previous year. The total income of the company increased by 5.14% at Rs 10,223 crore for Q2FY20 as compared to Rs 9,723 crore for the corresponding quarter previous year.

Fill Our Free Trial Form – Watch our Stock Market Target Calls Quality, Track sheet - Click Here or Subscribe us for Trading Trials >>>> Stock Cash Tips

Sector performance | Small Cap Gainers | Large Cap Gainers & Losers | Mid Cap Gainers & Losers

Indian Stock Market Today by Ideal Stock – 3rd October 2019

Sector performance as on 1st Oct 2019-

Small-Cap Gainers as on 1st Oct 2019-

Large Cap Gainers & Losers as on 1st Oct 2019-

Mid Cap Gainers & Losers as on 1st Oct 2019-

The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decisions.

Fill Our Free Trial Form – Watch our Stock Market Target Calls Quality, Track sheet - Click Here or Subscribe us for Trading Trials >>>> Indian Stock Market Today