Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses.
'The BNP's election manifesto lists grievances against India, mirroring the attitude of past BNP governments.' 'Political parties have been careful not to say bad things about China.'
Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
The Bombay high court on Friday upheld the tender awarded to an Adani Group firm by the Maharashtra government for the Dharavi slum redevelopment project in Mumbai, ruling there was no 'arbitrariness, unreasonableness or perversity' in the decision.
The Congress will launch a nationwide campaign against the repeal of the United Progressive Alliance-era rural employment legislation Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) on January 5, similar to the pushback against the three farm laws which eventually forced the Narendra Modi government to rollback its decision, party president Mallikarjun Kharge said.
Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying $265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts. Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
'We have given riot-free Maharashtra in our 18-month rule.'
US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
Activist short-seller Nathan Anderson, known for his high-profile campaigns against the likes of Adani Group, said he is closing his firm, Hindenburg Research, not because of any threat -- legal or otherwise -- and that he stands by all its reports.
'Instead of one or two families controlling 10% to 15% of GDP, it has to be broad based. Then, the resilience of the economy also will be higher.' 'Then, if something happens to one business, it will not hurt the economy badly.'
Gaikwad, who was Dharavi MLA before being elected to the Lok Sabha in the 2024 general polls, also alleged the redevelopment project was real estate's biggest scam.
Floor leaders of the Opposition Indian National Developmental Inclusive Alliance met on Monday ahead of the start of Parliament's winter session and decided to raise the issue of alleged corruption in the Adani Group and demand a Joint Parliamentary Committee on the matter.11111111111111111111111111
Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group, US-based short seller Hindenburg Research claimed citing media report - a charge that the conglomerate vehemently denied. In a post on X, Hindenburg cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021."
'That was my mistake.' 'Gautam Adani was not involved in forming the Maharashtra government.' 'Adani was not there in the meeting.' 'The meeting was at his guest house and we were sitting in his guest house.'
From the Sensex firms, Adani Ports, Bharat Electronics, Eternal, Tata Motors Passenger Vehicles, State Bank of India and Kotak Mahindra Bank were among the biggest gainers. However, ITC, Bajaj Finance, Titan and Tech Mahindra were the laggards.
The combined market capitalisation of Adani group companies increased to Rs 15.11 trillion last week. As a result, Gautam Adani's family raced ahead of Mukesh Ambani of Reliance Industries, reclaiming the title of India's wealthiest promoter.
Quarterly earnings, macroeconomic data announcements and global trends will drive the Indian stock markets in a holiday-shortened week, analysts said. Stock markets would remain closed on Wednesday for the Guru Nanak Gurpurab holiday.
The Congress was the only party in Rajya Sabha on Wednesday to demand a discussion on setting up a joint parliamentary committee (JPC) to probe allegations against the Adani group. Other opposition parties gave similar notices on different issues, including violence in Manipur and Uttar Pradesh's Sambhal. The Congress members sought a JPC to investigate the alleged misconduct, including corruption, bribery and financial irregularities of the Adani Group in connivance with other authorities. However, other opposition parties raised different issues, with the AAP seeking a discussion on "increasing crimes in Delhi" and the TMC, DMK, AAP and CPI seeking a discussion on violence in Manipur. The CPI-M, SP and IUML sought a discussion on the recent violence in Sambhal, Uttar Pradesh.
The opposition on Sunday asked the Centre to allow discussions in the Parliament on the United States prosecutors' bribery charges against the Adani Group even as Union minister Kiren Rijiju made it clear that the matters to be taken up in the two Houses will be decided by their authorised committees with the consent of the respective Chair.
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector.
From the Sensex pack, HCL Tech, Infosys, Tata Consultancy Services, Hindustan Unilever, Sun Pharma and Titan were among the biggest gainers. In contrast, Tata Motors Passenger Vehicles, Maruti, Adani Ports and Bajaj Finance were among the laggards.
Among the Sensex constituents, Bharat Electronics Ltd, Eternal, Trent, Tata Steel, Bajaj Finance, Adani Ports, Bajaj Finserv, State Bank of India, PowerGrid, Asian Paints, Tata Motors Passenger Vehicles, Titan, NTPC, Kotak Mahindra Bank, Larsen & Toubro and Bharti Airtel were among the laggards. Tech Mahindra, HCL Technologies, Reliance Industries and HDFC Bank were the only gainers.
Among Sensex firms, Bharat Electronics, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Bajaj Finserv and Tata Motors Passenger Vehicles were the major laggards. However, Tech Mahindra, Asian Paints, Infosys, Adani Ports, Sun Pharma and HDFC Bank were the gainers.
In seeking visa approvals for engineers from China, the company has reasoned that India lacks the expertise to set up such a solar facility.
Among Sensex firms, Bajaj Finance, Sun Pharma, Trent, Mahindra & Mahindra, State Bank of India and Bajaj Finserv were the major laggards. However, Tata Motors Passenger Vehicles, Maruti, Bharat Electronics, Kotak Mahindra Bank, Adani Ports and HCL Tech were among the gainers.
Billionaire Gautam Adani-led Adani Group on Tuesday said it will acquire CK Birla group firm Orient Cement at a valuation of Rs 8,100 crore as part of its expansion drive. Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore.
Among Sensex firms, Tech Mahindra, Infosys, Bajaj Finance, Bajaj Finserv, Eternal, Adani Ports, Hindustan Unilever and Bharat Electronics were the major laggards. However, Bharti Airtel, Axis Bank, Asian Paints and Titan were among the gainers.
Parliamentary proceedings were disrupted for the third consecutive day in the Winter Session as opposition parties continued their protests over the Adani issue and violence in Manipur and Sambhal. Both the Lok Sabha and the Rajya Sabha were adjourned within minutes of convening, despite appeals from the Chair to engage in productive dialogue and refrain from disruption. The opposition members raised slogans demanding action against the perpetrators of violence in Sambhal, and sought discussions on allegations of irregularities against the Adani Group and the violence in Manipur.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
Adani Wilmar on Monday posted over twofold jump in consolidated net profit at Rs 410.93 crore for December quarter 2024-25 on strong edible oil sales. The company had logged a net profit of Rs 200.89 crore in the year-ago period.
Investors have put money in Ambuja Cements shares as the cement major has moved to consolidate its operations. The Adani Group company has proposed to merge its subsidiaries ACC and Orient Cement into the parent entity.
The Supreme Court has dismissed a plea seeking review of its January 3 verdict by which it refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team or the CBI.
From the Sensex pack, Eternal, Maruti Suzuki India, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, Bajaj Finserv, HCL Technologies, Bajaj Finance and Larsen & Toubro were among the gainers. On the other hand, Tata Motors Passenger Vehicles, Asian Paints, UltraTech Cement, Bharat Electronics Ltd, Tata Steel, Adani Ports, Hindustan Unilever, ITC, Tata Consultancy Services and Reliance Industries were the only laggards.
Prime Minister Narendra Modi inaugurated Phase 1 of the 19,650 crore (196.50 billion) Navi Mumbai International Airport, marking a major milestone in India's aviation infrastructure. Conceived as the country's largest greenfield airport project, the facility has been developed under the public-private partnership model and will function as the second international airport for the Mumbai Metropolitan Region, easing pressure on the congested Chhatrapati Shivaji Maharaj International Airport. The new airport is expected to significantly improve air connectivity for Mumbai and its adjoining regions, catalyse economic growth in Navi Mumbai and Raigad districts, and serve as a key hub for passenger and cargo traffic in western India.
Paytm operator One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group. Adani group has also termed such reports as "false and untrue." Commenting on a report that billionaire Gautam Adani was in talks with Paytm CEO Vijay Shekhar Sharma for a possible stake buy, One97 Communications said, the "news item is speculative and the company is not engaged in any discussions in this regard."
This is seen as the first concrete opportunity to break HAL's monopoly in combat aircraft manufacturing, potentially opening the door to a private-sector fighter jet producer.
From the Sensex pack, Eternal, Bharat Electronics Ltd, Trent, Axis Bank, State Bank of India, Bajaj Finance, Sun Pharmaceuticals, Asian Paints, Adani Ports, Hindustan Unilever, Reliance Industries, ITC, PowerGrid, Tata Motors Ltd's Commercial Vehicles business, and Bajaj Finserv were the gainers. Infosys, Tata Motors Passenger Vehicles, Tata Steel, ICICI Bank, Tech Mahindra, Titan, UltraTech Cement, Maruti Suzuki India, and Larsen & Toubro were the laggards.
As the rupee has been on a downward slide and crossed 90 a dollar, consumer electronics firms are looking to raise prices of products ranging from air conditioners (ACs) to television panels up to 10 per cent.
