Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
The good news for the group has come from the port business.
The NSE Nifty settled the day 96.80 points, or 0.94 per cent lower, at 10,224.95
'It was always anticipated that the return of the Taliban would embolden armed Islamists including anti-India groups like the Lashkar and Jaish.'
The stock jumped 12.9 per cent to Rs 95.80 at Bombay Stock Exchange.
Adani Enterprises has 14 resolutions to pass, Adani Ports & SEZ has 13, Adani Power 12.
Among the Sensex constituents, ICICI Bank was the biggest gainer with 11 per cent jump, followed by State Bank of India, which rose 8.04 per cent.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
The 30-share index surged 499.79 points or 1.84 per cent to settle at 27,626.69.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
Sector-wise, banking, IT, pharma and realty indices drove the market momentum.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The 50-share NSE Nifty reclaimed the key 9,900-mark in day trade but profit-booking at higher levels trimmed its gains. The index settled at 9,884.40.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
The 50-share NSE Nifty after moving between 10,374.30 and 10,307.30 settled flat at 10,348.75, up 6.45 points, or 0.06 per cent.
Major gainers in the Sensex pack were Wipro, Kotak Bank, Infosys, Maruti, Tata Motors, L&T, IndusInd Bank, Hero MotoCorp, M&M, SBI, ONGC, HDFC Bank and HUL, rising up to 3 per cent.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
The 30-share index ended higher by 481.16 points or 1.91 per cent at 25,626.75 -- its highest closing since January 1.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
'Kindly advise about the following stocks. Can I hold or exit?'
Developers had been urging dual usage of their SEZ land since the beginning of global financial recession in 2008.
Gajendrasinh Jadejha, the sarpanch of the Navi Naal village in Mundra taluka of Kutch, who has been sent to jail under the Prevention of Anti-Social Act by the Gujarat government, has filed a petition in the Gujarat high court against his detention and application of the tough law against him.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
A mixed global trend and weakness in rupee influenced the sentiments during the day.
Wipro rose the most, up 3.12 per cent, ahead of its board meeting to discuss buyback of shares.
Eyeing to become India's largest player in 2020 Adani Group plans to invest 70 per cent of its capital expenditure in clean energy and energy efficient systems.
Most of the 30-Sensex constituents led by M&M, Adani Ports, BhartiAirtel, Bajaj Auto, Hero MotoCorp, ICICI Bank, Sun Pharma, Cipla, HDFC Ltd, ONGC and Hind Unilever were trading in negative terrain, falling by up to 5.77 per cent.
Telecom, metal and healthcare came as dampeners.
All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
Healthcare, auto and financial stocks lagged.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
The broad market depicted strength. 1,525 shares rose and 1,131 shares fell. A total of 156 shares remained unchanged
