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April 20: Corona moves up on the stock market, Pharma-Auto shares rise

The Indian stock market closed in red on April 20. The benchmark indices BSE Sensex and NSE Nifty weakened by about 0.5% amidst considerable volatility…

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April 20: Corona moves up on the stock market, Pharma-Auto shares rise

The Indian stock market closed in red on April 20. The benchmark indices BSE Sensex and NSE Nifty weakened by about 0.5% amidst considerable volatility. Investors’ concern is growing due to the increasing cases of Corona. The IT sector was a weakness in most of the stocks. Let’s understand what was important on the first day of the week in the market.

Sensex has now come down to 47,750 due to continuous decline. The Nifty is also close to 14,300 after weakness.

The big things of the business of April 20-

The BSE Sensex weakened 243 points, while the NSE Nifty 50 index lost 63 points.

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At the time of closing the market, 17 out of 30 stocks of the Sensex pack remained in the red mark. 23 shares gained in 50 of Nifty packs.

In the Nifty pack, Tata Consumer, Sun Pharma and Cipla made their 52-week peak.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the green mark with index bounce. The midcap index gained 0.3% while the smallcap index gained 1%.

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The Volatility Index (VIX) has reached 22.42 after a decline of 0.31%.

Market Movement

Nifty

Open – 14,526.70

Close – 14,296.40

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Variations – (-0.44%)

High – 14,526.95

Lo- 14,207.30

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Sensex

Open – 48,473.04

Close – 47,705.80

Variations – (-0.51%)

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High – 48,478.34

Lo- 47,438.50

The reason for the breakdown of the market-

Investors’ concerns about Corona matters remain. This can have a major impact on economic activity. The mixed signals of foreign markets also helped Byers a little in the market. Investors are also being cautious before the fourth quarter results. More enthusiasm in the market from foreign institutional investors and domestic institutional investors is the reason for disappointment in the market.

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Which sector did how well?

The sector-based indices of the Nifty did not show major changes on Tuesday. Nifty auto and pharma sectors gained nearly 1%. At the same time, the metal and realty indices rose by about 0.35%. In contrast, the Financial Services and FMCG indices weakened by 0.6%. The Nifty IT index fell 1.37% while the Bank index fell 0.31%. The energy index closed flat after a slight decline.

Nifty-50 shares seen the fastest in these stocks

Dr. Reddy Labs (+ 3.56%)

Bajaj Finserv (+ 3.48%)

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HDFC Life (+ 3.01%)

Bajaj Finance (+ 2.62%)

Tata Consumer (+ 2.09%)

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These shares of Nifty-50 are broken.

Ultratech Cement (-4.93%)

HCL Tech (-3.39%)

HDFC (-3.34%)

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Grasim (-3.15%)

Shree Cement (-2.75%)

Stocks that remain most active-

HDFC, Dr Reddy Labs and Tata Motors were the three most active stocks in the Nifty by value. At the same time, according to the volume, the stock of Tata Motors, SBI and ICICI Bank dominated.

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What is the sign next?

The constantly growing Corona cases can be worrying for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.

Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

World

Prime Hydration Faces Lawsuits Claiming Its Sports Drink, Prime Energy, Contains PFAS and Excessive Caffeine

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Prime Hydration

Prime Energy, the sports drink from Prime Hydration, has been hit by a number of lawsuits for containing excessive amounts of caffeine and PFAS. Another lawsuit was filed on April 8 in the Southern District of New York, accusing Prime Hydration, the parent company which manufactures the sports drink, of engaging in misleading and deceptive practices.

Prime Hydration was founded by two Logan Paul and KSI in 2022, and the products became very popular thanks to the huge followings of the YouTubers. However, the company is now facing a slew of lawsuits over the ingredients in their energy and sports drinks.

New Lawsuit Against Prime Hydration

The latest lawsuit, filed on April 8, accuses the company’s 12-ounce energy drinks of containing 215-225 milligrams of caffeine, exceeding the permissible limit of 200 milligrams. The lawsuit was filed by Lara Vera, a resident of Poughkeepsie, New York.

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The lawsuit details that the plaintiff had purchased Prime’s Blue Raspberry products on numerous occasions in August 2022 for about $3 to $4 each, unaware that the products contained caffeine beyond the permissible limits. The plaintiff is seeking damages of $5 million from the company. Lara Vera’s lawsuit alleges that Prime advertised 200 milligrams of caffeine, which is equal to six Coke cans or two 12-ounce Red Bulls. One Red Bull can could contain 114 milligrams of caffeine.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

The suit also alleges that there are no safe limits of caffeine for children and that caffeine has been indicted for causing tachycardia, headaches, convulsions, tremors, upset digestion, and adversely affecting mental health.

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Earlier, Senator Charles Schumer, D-N.Y., had asked the Food and Drug Administration (FDA) to investigate Prime energy drinks in 2023 after reports that the products contained high levels of caffeine. The Senator also accused the company of using vague marketing tactics focused on young people, influencing parents to buy the caffeine-laced drinks for their kids. The lawsuit by Vera also quotes the Senator’s call to the FDA.

Prime is also facing another lawsuit filed on Aug. 2, 2023, in the Northern District of California by the Milberg law firm on behalf of Elizabeth Castillo and others. The lawsuit charges Prime’s products with using flavors containing PFAS, or “forever chemicals.” Forever chemicals are a class of chemicals that are not degraded in the human body or nature and have been indicted as a carcinogenic substance. Independent third-party testing has confirmed that Prime Hydration grape flavor contained PFAS.

Also Read: California mother files lawsuit against Tesla after her 2-year-old child starts Model X and runs over her

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Net Worth

George T. Conway Net Worth 2024: How Much is the American Lawyer Worth?

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George T. Conway Net Worth 2024: How Much is the American Lawyer Worth?

Who is George T. Conway?

George T. Conway, also known as George Thomas Conway III, is a distinguished American lawyer and political activist. Born on September 2, 1963, in Boston, Massachusetts, Conway is renowned for his legal expertise and vocal opposition to former President Donald Trump’s administration.

George T. Conway Career

Conway’s legal career is illustrious, marked by significant contributions to various fields such as securities, mergers and acquisitions, contracts, and antitrust issues. He began his career as a law clerk at the US Court of Appeals and later joined prestigious law firms, including Wachtell, Lipton, Rosen, and Katz. Notable cases include representing Paula Jones in a trial against President Bill Clinton and securing a victory against the National Australia Bank. Furthermore, Conway has been actively involved in political activism, co-founding groups like Checks and Balances and the Lincoln Project, which oppose Trumpism and advocate for democratic principles.

George T. Conway Net Worth

As of 2024, according to Celebrity Net Worth, George T. Conway’s net worth is estimated to be approximately $39 million. His wealth primarily stems from his successful legal career, where he has handled high-stakes cases and served as a partner in prestigious law firms. Additionally, Conway’s involvement in political activism, public speaking engagements, and media appearances contribute to his financial status.

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George T. Conway Age

Born on September 2, 1963, George T. Conway is currently 60 years old as of 2024.

George T. Conway Family: Wife and Children

George T. Conway was previously married to Kellyanne Fitzpatrick Conway, a prominent political consultant and former White House counselor. The couple has four children: Claudia, Vanessa, Charlotte, and George Jr. Their marriage ended in separation in 2023.

George T. Conway Height and Weight

George T. Conway stands at 5 feet 7 inches tall and weighs around 84 kg. He possesses a charming personality with black hair and captivating black eyes.

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Also Read: Robert Kraft Net Worth 2024: How Much is the CEO of the New England Patriots Worth?

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World

Grindr, LGBTQ+ Dating App, Faces Lawsuit in UK Over Alleged Sharing of Users’ HIV Status

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Gay dating app Grindr has been slapped with a lawsuit instituted by hundreds of its users. The lawsuit alleges that the app shared private information, including the HIV status of users, with third parties without consent. Filed in London’s High Court, the lawsuit, according to Austen Hays from the law firm representing the plaintiffs, suggests that thousands of Grindr users in the United Kingdom may have been affected.

The law firm claims that Grindr shared highly sensitive user information with third parties for commercial purposes, including HIV status. Grindr, the largest dating app catering specifically to the LGBT community, is accused of sharing data with data analytics companies Apptimize and Locally.

The lawsuit further alleges that the app used covert tracking technology to gather sensitive information, which was then unlawfully shared with advertisers. With over 13 million monthly users and more than 924,000 users reported in the UK as of May 2023, Grindr boasts the highest engagement among dating apps, with users spending an average of six hours and 49 minutes on the app per month.

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A spokesman for the gay dating app stated that they would “respond vigorously to this claim, which appears to be based on a mischaracterization of practices from more than four years ago.”

The lawsuit, signed by more than 670 respondents, claims that the breach occurred between 2018 and 2020. It is anticipated that more people could join the case, potentially numbering in the thousands. If successful, plaintiffs could receive thousands of pounds in damages.

The managing director of the law firm representing the plaintiffs, Chaya Hanoomanjee, stated, “Grindr owes it to the LGBTQ+ community it serves to compensate those whose data has been compromised and have suffered distress as a result. The company must ensure all its users are safe while using the app, wherever they are, without fear that their data might be shared with third parties.”

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Grindr’s spokesperson reiterated the company’s commitment to protecting user data, asserting that they have robust processes in place that fully comply with data privacy regulations in the UK and elsewhere.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

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