NSE declares Karvy Stock Broking as defaulter, expels from membership

Watch live: Trump administration officials speak on Covid vaccine distribution

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The departments of Health and Human Services and Defense are holding a joint briefing Tuesday on the Trump administration's coronavirus vaccine program Operation Warp Speed as states prepare to distribute doses as early as next month.

The briefing comes four days after Pfizer and its partner BioNTech applied for an emergency use authorization from the Food and Drug Administration for their Covid-19 vaccine. The FDA process is expected to take a few weeks, and an advisory committee meeting to review the vaccine has been scheduled for early December.

Pfizer announced on July 22 that the U.S. agreed to buy 100 million doses of its vaccine for up to $1.95 billion. The agreement, which is part of Operation Warp Speed, allows the U.S. to acquire an additional 500 million vaccine doses.

Read CNBC's live updates to see the latest news on the Covid -19 outbreak.

Stock Alert: Blink Charging Tumbles 16%

Shares of Blink Charging Co. (BLNK), a Florida-based provider of electric vehicle or EV charging equipment, are losing almost 16 percent or $5.35 in Tuesday’s morning trade at $28.27.

Tuesday, Blink Charging said it has acquired the EV charging operator U-Go Stations, Inc. and its portfolio of 44 DCFC charging locations. The purchase also includes multiple grants awarded to U-Go for the deployment of up to an additional 45 new charging stations.

The U-Go charging stations will add to Blink’s current DCFC portfolio of 88 chargers, predominately found on the West Coast. Financial terms of the deal were not announced by the company.

Blink Charging has traded in a range of $1.25 to $34.67 in the past 52 weeks.

All year long, we asked VCs to tell us the hottest startups they're watching. Out of hundreds of great startups, we've selected the top 100.

  • Business Insider has written about hundreds of startups to watch in 2020 as recommended by the experts, venture capitalists.
  • As the year comes to a close, we've sifted through them all to select the top 100 startups of 2020.
  • Visit Business Insider's homepage for more stories.

Business Insider has named over 350 startups this year as ones to watch according to the experts: the venture capitalists who know the markets intimately.

As the year comes to a close, we've sifted through those companies and selected the top 100 startups of 2020.

Our first-ever list of the top 100 startups of the year heaps investor praise on companies ranging from the seed-stage fledglings to the multibillion-dollar market leaders.

Many of these startups hired workers, raised capital, and built useful products and services despite the year's challenges — and some had success because of the unusual environment they're in.

For instance, they delivered food, furniture, and house plants as more and more people opted to stay home.

Others created software to help people be more effective, wherever they work from.

And plenty of companies kept us distracted from the real world with video games and other media.

We also kept our eye on healthcare startups working to keep us healthy and calm.

GAIL proposes Kondapalli-Tirupati natural gas pipeline

State-owned GAIL is planning a 450-km pipeline from Kondapalli, near Vijayawada, to Tirupati for supplying natural gas to industries and city gas distribution projects.

Though the proposed infrastructure is for catering to consumers in Andhra Pradesh, the bi-directional pipeline, is expected to emerge as a crucial component of a larger natural gas pipeline network in the region, over time. Submitting an expression of interest for developing the pipeline to regulator PNGRB, the firm said the pipeline will originate from Kondapalli in KG Basin network in Andhra Pradesh and connect Amravathi, Narasaraopet, Podili and Tirupati.

On natural gas sources for the pipeline, GAIL said ONGC had indicated additional HPHT gas availability at Odalrevu and Mallavaram in KG Basin. It counted the R Series gas from RIL field as well as other natural gas pipelines such as East West Pipeline, IOC’s Ennore-Bengaluru pipeline and RLNG terminal in Ennore, besides gas from other interconnected pipelines as sources.

Pegging the potential gas demand en route at 4-5 MMSCMD, GAIL said the pipeline would have capacity of 4 MMSCMD. It has listed as potential customers industrial units, including those into steel, IFFCO-Kisan SEZ and a fertiliser plant proposed by a Kribhco joint venture in Nellore, an auto component firm in Tirupati; and CGD and PNG projects in Chittoor, Nellore, Prakasam, Guntur and Krishna Geographical Areas.

Following the EOI submission, PNGRB has announced commencement of the public consultation process.

NSE declares Karvy Stock Broking as defaulter, expels from membership

The move was taken as the broker failed to comply with NSE guidelines.

The National Stock Exchange (NSE) has declared Karvy Stock Broking as a defaulter for non-compliance with the regulatory provisions of the bourse.

In addition, Karvy Stock Broking has been expelled from the membership of the exchange, the NSE said in a circular.

The move effective from November 23, was taken as the broker failed to comply with NSE guidelines, it added.

Under the guidelines, stock brokers are required to fulfill their obligations and should not involve in any misconduct, or unprofessional conduct among others.

Earlier, Karvy had unauthorisedly transferred securities of clients into its demat accounts by misusing the PoAs (Power of Attorney) given by its clients.

In November 2019, the market regulator Securities and Exchange Board of India (Sebi) had barred Karvy from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients’ securities to the tune of more than Rs 2,000 crore. The firm misused client collateral for its own trades.

Besides, Karvy was disabled (trading rights withdrawn) by the NSE in December 2019.