👀 The Week At A Glance
This week we talked about crypto, your taxes, the RBL Bank fiasco and our yearly wrap-up!
Hello, readers 👋
We hope you had a great 2021 and that you have an even better year ahead. In case you missed out on our updates because you were chilling during this holiday week, we’re here to catch you up in just 2 minutes and 47 seconds!
💰 Crypto Can Help You Save Money?
Cryptocurrencies have fans all over the world, including India now. While many are investing in it because they think it is the currency of the future, others just want to get quick gains. But some people have found another use for it. They’re using it to save money by using it for remittances. Want to know more? ReadOn!
🧾 How Are Your Investments Taxed?
Paying taxes is super complicated. Especially because you have to pay taxes on everything. Yes, even on your investments! However, different investments are taxed at different rates making filing very confusing. But don’t worry, here’s our explainer on the topic.
🏦 What’s Going On At RBL Bank?
The shares of RBL Bank dropped 23% this Monday, witnessing the steepest intraday decline in its history. Why? The bank's managing director and CEO abruptly went on medical leave. Here’s why this one exit spooked investors.
🗓️ The Year At A Glance: Part I
Cryptocurrencies, NFTs, and the metaverse were the buzzwords of last year. So, we compiled a list of the most important developments related to these topics in our year-end newsletter. Check it out here!
📰 The Year At A Glance: Part II
Lots and lots happened this year in the world of business and finance. So, we created a second part of our year-end newsletter to help you catch up with the year. Check it out here!
💼 How to Hack the New Year: Side Hustle Edition
Over the past few years, we’ve realized that a passive income isn’t always enough. What if the markets are down? What if you've lost an insane amount of money due to an investment? So, sometimes you need to boost your active income. Here's where a side hustle helps. So, here’s a handy guide we created to help you figure out your side hustle.
🗞️ Here's What Else Made the News and Moved Markets:
👉 The bull market has led to an IPO boom. But often these IPOs, especially those of startups can be a major disappointment for retail investors. You see, right now promoters can exit their entire holding in the listed company on listing day. This often leads to share prices tanking hurting retail investors and discouraging them. So, SEBI has created a new rule. Promoters with over 20% stake can only exit 50% of their holdings on listing day.
👉 2021 was a great year for unicorns and why should the last week of the year be any different. On December 29, three new unicorns were created: GlobalBees, MamaEarth, and MamaEarth’s parent company Honasa Consumer Pvt. Ltd. How many more unicorns do you think we’ll see this year?
👉 Reliance Industries Ltd. is India’s biggest company by market capitalization. And last year it made a lot of headlines. sadly, not all were good. Its telecom unit lost subscribers, JioPhone Next was delayed, and the company’s most awaited deal with Saudi Aramco was tabled. All of this had an impact on its share price, with RIL trailing BSE, Sensex, and Nifty 50 for the first time in 7 years. But the company has lots of new plans in the upcoming year, which include its new energy business and a 5G dream. Let’s see how it fares this year.
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With love,
Team ReadOn ❤️
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