Which way will Adani stocks head next week? Is it a good time to pick up Adani stocks?
The opposition INDIA bloc is considering submitting a notice to move a resolution to remove Rajya Sabha Chairman Jagdeep Dhankhar from office, sources said. The opposition had previously considered this in August but decided to give Dhankhar "another chance." The Congress is leading the charge, and the TMC and the Samajwadi Party are supportive. The decision comes after a contentious session in Rajya Sabha where BJP members protested alleged links between Congress leaders and George Soros.
From the 30 Sensex pack, IndusInd Bank plunged over 18.50 per cent after the firm reported a 40 per cent decline in September quarter net profit at Rs 1,331 crore, pulled down by concerns over its asset quality. Mahindra & Mahindra, Larsen & Toubro, NTPC, Adani Ports, Tata Steel, Maruti, Bajaj Finance and Titan were also among the laggards.
The Adani group on Friday moved the Kerala high court seeking the assistance of central forces to continue with construction at the Vizhinjam seaport in Thiruvananthapuram which was marred by violent protests recently halting the work.
Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea's Posco to explore business opportunities in sectors like steel, renewable energy among others. Both the entities have signed a memorandum of understanding (MoU) to this effect. In a statement on Thursday, Adani Group said the investment under the MoU is estimated to be up to $5 billion.
The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for stock markets in the wake of the recent Adani group shares crash triggered by Hindenburg Research's fraud allegations.
From the 30-share Sensex pack, Sun Pharma, Reliance Industries, Infosys, Tata Motors, Infosys, Titan, Maruti and NTPC were among the major laggards. Mahindra & Mahindra, Tech Mahindra, HCL Technologies and IndusInd Bank were the gainers.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
Leaders of various INDIA bloc parties have written to Lok Sabha Speaker Om Birla, urging him to allow leaders of the opposition in both Houses of Parliament to speak during the Constitution Day function to be held on Tuesday. The function will be addressed by President Droupadi Murmu, Vice President Jagdeep Dhankhar, and Lok Sabha Speaker Om Birla. The letter, signed by leaders of various opposition parties, states that they believe in the best traditions and interests of Parliamentary democracy, the Leaders of Opposition (LoPs) in both Houses should also be given an opportunity to speak on this historic occasion. Parliamenary Affairs Minister Kiren Rijiju, however, said that Prime Minister Narendra Modi will not be addressing the event and accused "some of the Opposition parties " of giving reactions without knowing the actual arrangement. He added that sitting arrangements have been made for the Leaders of Opposition of both Lok Sabha and Rajya Sabha on the dais.
A fire broke out in the basement of the Bandra-Kurla Complex (BKC) underground metro station in Mumbai on Friday afternoon, leading to suspension of rail services there for more than two hours as a precautionary measure, officials said.
In this round, the market has won. But it is still for Gautam Adani to decide whether he has lost or not, argues Shekhar Gupta.
For several months, there has been speculation among political circles in Amaravati that Priti Adani was most likely to be given one of the four Rajya Sabha seats on behalf of the ruling YSRC.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
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."
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
'...to think apna time aa gaya after the 2024 election.'
Investors' wealth eroded by a whopping Rs 7.15 lakh crore during the morning trade on Friday as equity markets tumbled, driven by sharp fall in IndusInd Bank shares and unabated foreign fund outflows. The BSE Sensex tanked 708.69 points to 79,356.47 and the NSE Nifty plunged 286.35 points to 24,113.05. Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tumbled Rs 715,739.19 crore to Rs 4,36,63,565.73 crore ($5.19 trillion) during the morning trade.
Tharoor said people have incurred losses after their money which was invested in LIC, SBI was put by the government "in its friend's account".
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
In the centre of an ownership battle with Adani Group, New Delhi Television (NDTV) can prevent a takeover by the group if it can buy more shares from public shareholders, corporate lawyers told Business Standard. On Tuesday, the media arm of Adani Group said it had exercised rights to acquire an indirect stake of 29.18 per cent in NDTV through conversion of loans into equity in a promoter group entity of NDTV. This will trigger a mandatory open offer for an additional 26 per cent stake in NDTV, even as the broadcaster said its founder promoters had neither consented to the exercise of rights nor was any conversation or input given on the matter.
From the Sensex pack, Tata Consultancy Services, Mahindra & Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports & Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
on Thursday adjourned sine die, ending the four-week-long second leg of the Budget session, during which treasury and opposition members locked horns over Rahul Gandhi's 'democracy' remark and the Adani issue.
Owing to a big rise in the market capitalisation of group companies such as Adani Green Energy and Adani Transmission, the group promoters, the Gautam Adani family, have closed the wealth gap with Mukesh Ambani, the promoter and owner of Reliance Industries Ltd (RIL). Ambani continues to top India's billionaire league table. The Ambani family's net worth was estimated to be Rs 8.06 trillion (around $108 billion) on Tuesday against the Rs 6.87 trillion (around $92 billion) of the Adani family.
From the 30-share Sensex pack, Infosys, ICICI Bank, Kotak Mahindra Bank, Mahindra & Mahindra, State Bank of India, HCL Technologies, Axis Bank, NTPC and HDFC Bank were among the laggards. In contrast, Maruti, IndusInd Bank, Adani Ports, ITC and UltraTech Cement defied broader market trends and ended in positive territory.
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