The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
It announced a Rs 4,400-crore (Rs 44-billion) acquisition of the Dhamra port the day election results gave Prime Minister Narendra Modi a superlative win.
The massive coal mine in Queensland state has been a controversial topic, with the project expected to produce 2.3 billion tonnes of low-quality coal.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
Terminal Zero will be constructed at the port of Abbot Point near Bowen town, Queensland, as per the Memorandum of Understanding inked between the company and Korea's POSCO.
Adani intends to ship most of the coal from the mine to India.
Under political fire and ecologists' ire, the group hires Suhel Seth, who will work closely with the promoters and the social media, corporate communications and external public relations team.
The immediate denial of any issues with approvals by the Queensland government raises questions as to what Adani is trying to accomplish
The company has battled opposition from green groups since starting work on the project five years ago
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
The company described the move as an 'important milestone'.
Shares in one of India's few privately owned deepwater ports will start trading on Tuesday after an initial public offering valuing the equity of Mundra Port & Special Economic Zone at about $4.5 billion.
With the Adanis submitting an earnest money deposit (EMD) of just Rs 100 crore on Monday for the upcoming 5G spectrum auction, the apprehension among the rivals that the group is nursing ambitions of being an all-India mobile player has been allayed at least for now. Based on its EMD, analysts say it can buy spectrum worth just Rs 900 crore, whose use will be limited to enterprises and captive networks -- that too is likely only in a few circles where it has its infrastructure like ports, airports, and power stations. While getting all-India millimetre band spectrum of 400 MHz (which costs Rs 2,800 crore) is ruled out, it might choose circles like Gujarat and Mumbai to start with.
The Adani Group's Mundra Port plans to raise $400 million from its initial public offering for expansion of facilities.
Global investment firm Citigroup is bullish on Indian equity markets.
Media reports said the decision was mutual.
Adani Group-led by billionaire Gautam Adani on Thursday pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects.
Adani will go ahead with its $15 bn mine, rail and port project.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
OSCO E&C said Adani had asked it to halt its design work as of July 16, with tentative plans to resume work in early October.
Gandhi said farmers asked him during his Bharat Jodo and Bharat Jodo Nyay yatras about why they were not getting the benefit of loan waivers like billionaire industrialists or MSP (minimum support price) for farm produce.
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
Adani Ports, BHEL, Tata Motors, ONGC, Mahindra & Mahindra and Tata Steel were the top losers.
Adani's Carmichael project has been stuck in the approvals process for the past five years.
Strong gains in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
Adani Group had sought 10,000 acres in the first phase and 40,000 acres in the second phase.
Australia's federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years, but analysts and project finance experts believe Adani may have underestimated the challenge of raising funds for the project.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Reports said that Adani took legal action to override the W&J people.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Moitra said she has been found guilty of breaching a code of ethics that does not exist and that there was no evidence of cash or gift given to her.
Was our economy very big when we were fighting the Britishers? asked Gandhi.
The federal court in August had revoked the original approval.
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Approval for Adani's Carmichael coal mine was set aside last week.
The project includes a 300 kms rail line connecting Adani's planned Carmichael Coal Mine, Northwest of clermont, to the Abbot Point Coal port, near the Great Barrier Reef.
