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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
Determine the sentiment expressed in the news from financial perspective. Options: negative, positive
### Input:
Representative image
Harsh Maggon and Mahima Priyani
We are living in uncertain times. While the government doles out relief packages to save the economy, it must rethink certain regulatory frameworks to aid companies in fighting the unpredictable ill-effects of Black Swan 2020.
With diminishing cash flows and growth forecasts, one form of capital companies are likely to seek increasingly is equity financing. Listed companies especially find themselves caught in a regulatory quagmire of ‘minority protective’ rules which threaten to derail any possible ‘turnaround’ equity capital they may be eyeing.
Ironically, some of the minority protection rules such as pricing floors and open offer obligations have been operating against the interests of minority shareholders for a while now and it is time the rules were eased out for their benefit.
In the Indian public M&A (merger and acquisition) sphere, two significant minority protection requirements are seen to be the nemesis for companies in distress -- one requires acquirers to pay a minimum price for preferential issue of shares (a route often used to provide the much-needed equity capital to companies), and the second requires acquirers to make a mandatory tender offer (MTO) to public shareholders on acquisition of a significant threshold of shares or control in the listed company.
The price an acquirer pays for a preferential issue is required to be determined on the basis of the market price for the relevant stock (higher of the 26-week and 2-week VWAP, that is volume-weighted average price). This is the average traded price of a security throughout the day, based on both volume and price.
It is well known that stock prices are not always representative of the underlying value of the company – in fact, we find ourselves in the midst of a stock market meltdown, where a 26-week VWAP does not even realistically offer a value any acquirer will pay. Not to mention, a company in distress is seldom in a position to bargain for higher valuations.
Add to that, the requirement to make an MTO, and the combination makes it near impossible to raise any investment. Most distressed companies and acquirers would rather seek infusion of capital into the company in distress than make a payout to minority shareholders in an MTO – after all, such an infusion will only improve the long-term equity value for all shareholders.
The minimum pricing rules and MTO obligations have also failed to keep up with the growing involvement of minority shareholders in decision-making within listed companies. The Securities and Exchange Board of India (SEBI) has, over the past decade, mandated listed companies to obtain the prior approval of minority shareholders for several decisions – these have mostly been limited to matters where there is a perceived conflict of interest involving the management or the promoter group. Why is not SEBI permitting minority shareholders to approve or disapprove a transaction that deviates from these ‘minority protective’ rules, especially when their company is in the midst of a distress?
If a company in distress is looking to raise funds at prices lower than the mandatory floor price or is seeking an exemption from making an MTO, the listed company should be permitted to approach its minority shareholders for permitting such a deviation. If, after being duly informed of the reasons for such deviation, minority shareholders approve a deal, the listed company should be free to transact such a deal. This would incentivise bailout transactions by making them cost-efficient for acquirers. Interestingly, the laws of many developed countries such as the United States, the United Kingdom and Singapore contain similar whitewash exemptions for deviations from pricing norms and/or from MTOs.
With the likely dismal cash flows of most listed companies for the next two quarters and crash in stock markets, SEBI would do well to fix these rules which limit the ability of listed companies to raise ‘turnaround’ equity capital. The flexibility would, after all, only uphold shareholder democracy and empower minority shareholders to charter a future for their companies at a time when they could use this support.
Harsh Maggon is a Partner, and Mahima Priyani is an Associate at Trilegal. Views are personal.
### Response:
Negative<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 01 and 22th for company BUD. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 78.11000061035156, high value is 78.43000030517578, low value is 77.9800033569336 and volume is 1117600<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
Categorize the input news's emotional tone into one of three groups.
Options: negative, positive
### Input:
Apple Inc. and Nvidia Corp. are reportedly among Taiwan Semiconductor Manufacturing Co.'s first customers of the third-party chip foundry's expansion into Arizona. Meanwhile, Intel Corp. hopes to join TSMC on the cutting edge by the end of 2023.
### Response:
positive<|end_of_text|> | Apple Inc. and Nvidia Corp. are reportedly among Taiwan Semiconductor Manufacturing Co.'s first customers of the third-party chip foundry's expansion into Arizona. Meanwhile, Intel Corp. hopes to join TSMC on the cutting edge by the end of 2023. | positive | Categorize the input news's emotional tone into one of three groups.
Options: negative, positive | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2017, month 03 and 09th for company BWZ. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 29.729999542236328, high value is 29.76000022888184, low value is 29.6200008392334 and volume is 63600<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 09 and 10th for company AOM. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 40.97999954223633, high value is 41.43999862670898, low value is 40.97999954223633 and volume is 153300<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 04 and 15th for company CCIF. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 9.0, high value is 9.154000282287598, low value is 8.850000381469727 and volume is 24700<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 11 and 23th for company ARKQ. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 67.36000061035156, high value is 67.56999969482422, low value is 66.55000305175781 and volume is 480800<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2021, month 12 and 07th for company ARCM. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 99.9000015258789, high value is 99.9000015258789, low value is 99.9000015258789 and volume is 0<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 02 and 27th for company BUD. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 74.72000122070312, high value is 75.08000183105469, low value is 74.4000015258789 and volume is 1556000<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2021, month 11 and 30th for company ALDX. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 7.670000076293945, high value is 7.789999961853027, low value is 6.96999979019165 and volume is 922000<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2022, month 03 and 15th for company AVPT. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 5.010000228881836, high value is 5.159999847412109, low value is 4.980000019073486 and volume is 1017000<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 03 and 04th for company AEG. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 3.440000057220459, high value is 3.450000047683716, low value is 3.3299999237060547 and volume is 4224000<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2017, month 09 and 13th for company AIRT. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 11.033332824707031, high value is 11.033332824707031, low value is 10.766667366027832 and volume is 1200<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2016, month 10 and 12th for company AZTA. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 13.550000190734863, high value is 13.81999969482422, low value is 13.3100004196167 and volume is 285200<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2020, month 02 and 18th for company BDL. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 21.8799991607666, high value is 21.8799991607666, low value is 21.8799991607666 and volume is 0<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
Determine the sentiment expressed in the news from financial perspective. Options: negative, positive
### Input:
June 15, 2018 / 09:29 PM IST
Prime Minister Narendra Modi is chairing a high-level meeting on the security situation in Jammu and Kashmir in which a decision on extending the ceasefire could be taken, officials said, according to a PTI report.
The meeting is being attended by Home Minister Rajnath Singh, National Security Advisor Ajit Doval, and senior officials of intelligence and security agencies, they said.
The meeting is crucial as a call on extending the unilateral ceasefire post Ramzan, which ends today, can be taken during it, they said.
### Response:
Neutral<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 09 and 19th for company AEP. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 93.18000030517578, high value is 93.37999725341795, low value is 93.02999877929688 and volume is 1200200<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2017, month 11 and 20th for company BPOP. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 34.369998931884766, high value is 34.400001525878906, low value is 33.68000030517578 and volume is 604000<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2016, month 09 and 16th for company AMSWA. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 10.920000076293944, high value is 10.979999542236328, low value is 10.5600004196167 and volume is 166000<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2023, month 02 and 02th for company AFB. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 11.1899995803833, high value is 11.300000190734863, low value is 11.170000076293944 and volume is 129600<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2023, month 03 and 10th for company ACGLO. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 21.649999618530277, high value is 22.31399917602539, low value is 20.850000381469727 and volume is 15400<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2024, month 05 and 17th for company ASC. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 22.36000061035156, high value is 22.6200008392334, low value is 21.86000061035156 and volume is 865200<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2023, month 11 and 24th for company AORT. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 17.65999984741211, high value is 17.719999313354492, low value is 17.049999237060547 and volume is 293900<|end_of_text|> | null | null | null | null |
B | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2022, month 11 and 09th for company ATCOL. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 23.600000381469727, high value is 23.600000381469727, low value is 23.549999237060547 and volume is 1200<|end_of_text|> | null | null | null | null |
B | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2016, month 12 and 07th for company BTCM. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 134.60000610351562, high value is 134.89999389648438, low value is 132.8000030517578 and volume is 13520<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 12 and 09th for company BFC. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 67.5199966430664, high value is 68.4000015258789, low value is 66.66000366210938 and volume is 11500<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2021, month 06 and 02th for company BODI. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 500.5, high value is 504.0, low value is 499.0 and volume is 17162<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 03 and 13th for company AFT. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 15.210000038146973, high value is 15.220000267028809, low value is 15.170000076293944 and volume is 111000<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
Come up with 3 alternative synonyms for the word “adept”.
### Input:
### Response:
1. Skilful
2. Proficient
3. Accomplished<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
Should I invest in my house, when it's in my wife's name?
### Input:
### Response:
The prenup complicates things. The traditional vow of a marriage is "What's mine is yours, what's yours is mine". With such a traditional marriage it doesn't matter too much which partner's name something is in, in the event of a divorce the assets of the couple would be considered as a whole and then split. But you have a prenup which is presumably intended to change this traditional arrangement (and may or may not actually be enforceable). I think you are as such right to be wary. I think your only way forward long term is to amend the prenup and/or the legal status of the house to recognize it as a shared asset that you will both be contributing to and that it's value should be split in some way in the event of a divorce. In exchange you should probably be contributing some or all of the cash pile you have from selling your house to the common pot. Another loan may seem like a good option in the short term but in the long term the appreciation on a house is likely to be worth more than any interest on the loan (assuming you are using an interest rate comparable to commercial mortgage deals), plus any interest may well end up being taxable.<|end_of_text|> | null | null | null | null |
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 10 and 21th for company AIEQ. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 26.520000457763672, high value is 26.520000457763672, low value is 26.38999938964844 and volume is 16700<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2019, month 08 and 22th for company BLE. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 15.390000343322754, high value is 15.449999809265137, low value is 15.369999885559082 and volume is 37900<|end_of_text|> | null | null | null | null |
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Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
for the task summerization
### Instruction:
In year 2024, month 02 and 05th for company BRCC. What is your expected close, high, low and volume?
### Input:
### Response:
With this information close value is 4.019999980926514, high value is 4.050000190734863, low value is 3.934999942779541 and volume is 268100<|end_of_text|> | null | null | null | null |
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