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Paytm parent One97 Communications shares fell by up to 9% due to ED investigations into cryptocurrency scams involving several payment gateways. The ED has frozen Rs 500 crore in these gateways' virtual accounts related to scams run by Chinese nationals, impacting platforms like PayU, Razorpay, Easebuzz, and others.
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Shares of Cyient Ltd fell 18.58% after weak Q3 FY25 results and CEO resignation. The DET segment saw a drop in YoY profit, while revenue guidance for FY25 was revised downward. Leadership change and execution issues led to stock downgrades by JP Morgan and Emkay Global.
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Muhammad Yunus, head of Bangladesh's interim government, criticised the previous administration's allegedly fake economic growth and corruption. Yunus emphasised the importance of inclusive growth and reducing inequality. He called for the extradition of former Sheikh Hasina to Bangladesh to face charges, stressing strained India-Bangladesh relations.
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