The Board of Allcargo Logistics Ltd has hired Inga Ventures Pvt Ltd to carry out due diligence ahead of taking a call on a proposal moved by the promoter and promoter groups to delist the company’s shares from the bourses.

At a meeting called to discuss the delisting proposal on Thursday, the board noted that it has to be approved by the Board and the shareholders of the company in accordance with the SEBI Delisting Regulations.

“The delisting proposal is required to be approved by the Board only after receipt of a due diligence report from a merchant banker appointed by the Board in this regard,” the company said after the meeting.

The promoter and promoter groups said that the planned delisting would enhance the company’s operational, financial and strategic flexibility including corporate restructurings, acquisitions, exploring new financing structures including financial support from the members of the promoter group.

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This isn't how a cash and carry trade works (Pixabay).

Institutional demand for stablecoins may cool because yield on “carry trades” has been cut in half since Monday.

The annualized rolling one-month futures basis shot as high as 28% at the start of the week on the Malta-based cryptocurrency exchange OKEx, the biggest in terms of open interest. That was the highest premium since February, according to data provided by the crypto derivatives research firm Skew.

That premium, however, dropped to 14% in under 48 hours. In other words, the carry strategy, if initiated now and held until next Friday, will yield an annualized return of 14%, down from 28% on Monday.

Related: Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising

Carry trading, or cash and carry arbitrage, is a market-neutral strategy, one that seeks to profit from both increasing and decreasing prices in one or more markets. It involves buying the asset in the spot market

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