Senior Haryana police officer Y Puran Kumar was found dead with a gunshot wound at his Chandigarh home. Police suspect suicide. He was the inspector general, Police Training Centre, in Sunaria, Rohtak.
Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
Chandigarh Police has formed a Special Investigation Team (SIT) to investigate the suicide case of Haryana police officer Y Puran Kumar, ensuring a prompt and thorough investigation.
The wife of a senior Haryana police officer who allegedly committed suicide has questioned the FIR filed in the case, citing incomplete information and seeking amendments to include all accused and reflect appropriate sections of the SC/ST Act.
A senior Haryana Police officer's suspected suicide has sparked controversy after a note he left behind accused senior officers of harassment and caste-based discrimination. His wife has demanded an FIR against the state police chief.
The wife of a Haryana Police officer who allegedly died by suicide has claimed his death was the result of 'systematic persecution' by high-ranking officers and has filed a complaint requesting an FIR be registered.
A Haryana Police ASI allegedly committed suicide, leaving behind a video and note accusing a late IPS officer of corruption. The incident follows controversy surrounding the officer's death and allegations of caste-based discrimination within the police force.
The Haryana government transferred Rohtak Superintendent of Police Narendra Bijarniya after an IPS officer's suicide and allegations of caste-based discrimination.
Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
The initial public offering for Power Trading Corporation Ltd has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of bidding process on Monday.
The companies will pick up 20 per cent each in PTC Financial Services, a non-banking finance company (NBFC). The total investments could be Rs 50-60 crore (Rs 500-600 million), including a premium of Rs 3-5 on a face value of Rs 10 a share, according to company executives.
Power Trading Corporation on Monday reported a massive 127 per cent jump in its net profit at Rs 13.73 crore.
Having marked its presence in the critical infrastructure sector in just two years of its setting up, Power Trading Corporation is all set to tap capital market to raise equity by Rs 30 crore (Rs 300 million).
The move came after the Bhagwant Mann-led Aam Aadmi Party government on Monday approved an amendment to the British-era Sikh Gurdwaras Act, 1925.
Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.
IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.
On Thursday, Adani Enterprises announced that it will not go ahead with acquiring Macquarie group's two road companies at an enterprise valuation of Rs 3,100 crore.
Embattled Adani Group on Monday said it has put on hold major equipment procurement and site construction activities for the Rs 34,900 crore petrochemical project at Mundra in Gujarat as the project has not yet tied up finances. The group's flagship Adani Enterprises Ltd (AEL) incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd in 2021 for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in the Kutch district of Gujarat. Asked by stock exchanges to comment on a PTI report on Sunday that the group has suspended work on the project, AEL said, "The financial closure of the Green PVC project of Mundra Petrochemicals Limited ( MPL) is pending with the financial institutions and it is in their active consideration."
Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt "baseless and deliberately mischievous." "Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released," it said.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Eight-time World champion Pankaj Advani continued his fine run to enter the pre-quarter-finals of the third European Players Tour Championship (PTC) of the season, the Bluebell Wood Open, being held at Doncaster Dome, in Sheffield.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Power Trading Corporation will enter the capital market next month with its initial public offer to enhance capital by Rs 58.5 crore (Rs 585 million).
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
Sen, Joint Commissioner of Police (Crime), was shifted as DIG (Training), Barrackpore Police Training College (PTC). The first woman Joint CP (Crime) since 2009 was among 60 IPS officers reshuffled in the first such major exercise after the Banerjee government came to power in West Bengal in May last year.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
India's leading cueists, Pankaj Advani and Aditya Mehta, bowed out of the third European Players Tour Championship (PTC) of the season -- the Bluebell Wood Open -- after suffering defeats in their respective round matches at the Doncaster Dome in Sheffield.
IEX, promoted by Financial Technologies, will be a pan India neutral and transparent electronic demutualized exchange for efficient price discovery in the electricity market. PTC India Ltd has consented to take 26 per cent stake in IEX.
"Sooner or later, a greater part of our businesses will surely be taken up by the exchange, a more transparent platform," said a senior official from PTC India Ltd, the country's largest power trading company that accounts for about a quarter of the total volume of electricity traded in the country. Interestingly, PTC is one of the co-promoters of the exchange. Another major player in the power trading sector, NTPC Vidyut Vyapar Nigam Ltd, has confirmed similar apprehensions
The exchange, Indian Energy Exchange (IEX), received bids for 13,176 Mwh of power when operation commenced and the transaction took place in the price range between Rs 6.46/kwh and Rs 8.01/kwh. Power will be delivered on Saturday as IEX is trading a day ahead currently.
Indian Energy Exchange has joined world's leading power exchanges like Powernext (France), EEX (Germany, Northern Europe), PJM (USA), JEPX (Japan and Norway's Nordpool which is the largest power exchange in the world). IEX, India's first power exchange got its approval from CERC on August 31, 2007. It is promoted by Financial Technologies Ltd & PTC financial services, a wholly owned subsidiary of PTC India Ltd. Joseph Massey, Deputy MD of MCX, is in charge of the exchange.
International Finance Corporation will take up 18 per cent stake in domestic stocks and commodities brokerage firm Angel Infin Pvt Ltd for Rs 152 crore. US-based Goldman Sachs and Australia's Macquarie will pick 40 per cent stake in PTC India Financial Services Ltd, a non-banking financial arm of power trading firm PTC India Ltd, for Rs 155.74 crore (Rs 1.55 billion).
There is more than what meets the eye to the wealth accumulated by Punjab Deputy Chief Minister Sukhbir Singh Badal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In a judgement that will bring relief to power deficit states, the Appellate Tribunal for Electricity has disallowed power surplus states like Orissa from charging a premium on exported power.
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