Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The ability to manage against the odds that has given Indian entrepreneurs a unique skill.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
Here's what you always wanted to know about investing your money in bank fixed deposits.
As campaigns against Chinese brands intensify and the virus keeps people indoors, Vivo plays it slow with a digital-first launch plan.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
Intel Capital has announced an investment of $23 million (about Rs 1.15 billion) in three Indian companies -- Indiamart.com, One97 Communications and Global Talent Track. However, figures were not disclosed. The funding will come from the $250 million Intel Capital India technology fund. The fund invests in Indian technology companies to help stimulate local technology innovation.
Defence public sector undertakings (PSUs) have been asked by the Centre to hold roadshows in Dubai and Abu Dhabi to share their financials and business plans to reel in investors. Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), Garden Reach Shipbuilders & Engineers (GRSE), and Mishra Dhatu Nigam (MIDHANI) have informed stock exchanges that they will conduct investor outreach programmes and participate in 'non-deal' roadshows and meetings with prospective investors from September 12-15. They will share their short- and medium-term growth plans, financial metrics, improvement in their stock performance/ market capitalisation - and make a pitch of sorts to prospective investors.
Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Several MF managers are trying to tell their investors that it could be the best time to invest as India is different.
Arsene Wenger will have more money to spend on players this summer after the club signed a new kit supply deal with German company Puma that begins on July 1.
Except investing more and investing for a longer period mankind will do anything to increase its wealth.
It is very difficult to choose a financial advisor today due to the plethora of investment options and due to the number of 'advisors' in the industry. Here we try to simplify this process by asking the 10 right questions.
Besides these entities, IDBI Capital was shortlisted by the interim pension regulator PFRDA for acting as a fund manager and asked to submit bids.
Disparity in India during last six years, senior managers have been paid 11.7 times more than their lower level workers
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
If reports that Apple Inc plans to triple its iPhone production in India come true, it is likely to help the country become a supply hub for the American company. There are some 190 Apple suppliers globally, but only 12 have manufacturing facilities in India now. Apple's strategy is to focus on India and a clutch of other countries as it diversifies its supply chain out of China.
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
The stage is set for the loading of cash into automated teller machines (ATMs) through the cassette-swap mode with an initial four-phased roll-out across 30 cities from June 1. The lockable cassette-swap will do away with the current practice of open-cash replenishment into ATMs. Cash-in-transit (CIT) firm personnel, tasked with loading cash into ATMs, will not have to touch it anymore. Cash-handling will be done by CITs at the cash centre, and the task of taking into account the amount of cash remaining from the last cassette-load will also be made simpler.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
The Indian startup ecosystem recently celebrated the 100th unicorn milestone. It came after a month of no big fund announcements. Compare this to 2021, when three to four unicorns were being added every month. Nevertheless, the 100th unicorn needs to be celebrated since the first unicorn was announced in 2011 - 11 years ago.
'The price for the big clubs is different for the other clubs. The big historical clubs they are normally punished in the market for their history'
...is not always easy. Here's why!
Providers write to Sebi, FinMin; launches may hit pause.
The Bombay high court on Tuesday directed the Central Bureau of Investigation to file by Friday its affidavit in response to a petition of Videocon Group founder Venugopal Dhoot, seeking to quash an FIR registered in a bank loan fraud case, to declare his arrest as "arbitrary and illegal" and to be released on bail. When the plea came up for hearing, advocate Kuldeep Patil asked for one-week time to seek instructions on the same. A division bench of Justices Revati Mohite Dere and P K Chavan said the agency shall file its affidavit by Friday and posted the petition for hearing the same day (January 13).
While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.
They are suitable for a 3-5 year horizon. Choose equity funds for longer than 5 years
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
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