What is it? The three entities—Rupeshbhai Kantilal Savla, Sujay Ajitkumar Hamlai and V Techweb India Pvt Ltd—from whom the market regulator has ordered impounding of unlawful gains worth over Rs 2.4 crore in an insider trading case.
Why is it important? The Securities and Exchange Board of India (Sebi) trawled the Facebook profiles of the suspected people to check if they were connected in the case, which violated insider trading norms. SEBI found the involved persons were ‘friends’ on Facebook and had liked each other’s posts, an instance of the regulator combing social media to track insider trading.
Tell me more: The order stated that by way of “this association and frequent communications, they are reasonably expected to have access to unpublished price-sensitive information” related to the firm in which shares were traded by the involved persons.
What is it? The number of years since the death of former judge BH Loya. He died of a cardiac arrest on December 1, 2014, in Nagpur, according to the Maharashtra police.
Why is it important? On Thursday, a three-judge Supreme Court bench, in a scathing verdict, dismissed a batch of petitions that sought an independent investigation into Loya’s death and said the pleas were an attempt to scandalise and obstruct the course of justice. It said public interest litigations were being misused for personal agendas. The BJP and Congress got into a war of words after the dismissal of these pleas.
Tell me more: The death of Loya came into focus after some media reports said that his sister had raised suspicions about the circumstances of his death. Loya was hearing the case regarding the death of a gangster Sohrabuddin Sheikh in which Amit Shah, president of BJP, was an accused.
Rs 6,904 crore
What is it? Tata Consultancy Services’ (TCS) net profit in the January-March quarter of 2017-18.
Why is it important? India’s largest software services exporter saw its banking and financial services vertical, its largest contributor, grow 2.3% sequentially and 8.2% year-on-year. The firm had witnessed lower client spending, particularly in this sector in North America, last year. A turnaround in the banking and financial services vertical, in addition to growth in digital services, is likely to help TCS achieve its 10% dollar-revenue growth in 2018-19.
Tell me more: Its Q4 revenue increased by 8.2% to Rs 32,075 crore on an annual basis. In 2017-18, TCS’ net profit declined 1.8% to Rs 25,826 crore.
What is it? The number of words devoted to India (out of 4,310) by Amazon founder and CEO Jeff Bezos in his 2017 letter to shareholders, released late Wednesday.
Why is it important? India received a para under the section ‘recent milestones’. India is one of the big markets identified by Amazon to open up new frontiers of growth, and it is locked in a bruising battle here with Flipkart, which might soon have a new owner in Amazon’s rival in the US, Walmart.
Tell me more: Bezos also disclosed that Amazon Prime crossed 100 million members worldwide in 2017 and that this paid membership service added more members than any previous year.
What is it? The amount paid by cyclist Lance Armstrong to the US government to settle a whistleblower lawsuit.
Why is it important? The lawsuit, filed in 2013, could have sought damages of up to $100 million from Armstrong—whose team was sponsored by the US Postal Services—for using performance-enhancing drugs en route to winning the Tour de France race seven times, victories that have since been scratched from the record book. This lawsuit would have possibly been the biggest claim against Armstrong, who has reportedly paid about $20 million in damages and settlements.
Tell me more: The original lawsuit against Armstrong was filed by Floyd Landis, a former teammate and also banned cyclist. Landis is eligible for up to 25% of the settlement amount.