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.
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). This meant that all factories churning out toys to be sold in India had to be certified by the bureau along with mandatory product testing, including for units abroad.
This may be in line with Russia's private military company, Wagner Group, which was controlled until 2023 by Yevgeny Prigozhin, a former close ally of Russia's president Vladimir Putin. The group used the infrastructure of the Russian Armed Forces.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
Citing information from corporate officials, fire official Kim Jin-young stated that the nationality of the remaining deceased worker was not yet determined.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
'There is not any negative connotation associated with it.'
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
'Communist China continues to aggressively expand its domain in the Indo-Pacific region.' 'It's crucial for the USA to continue its support in countering these malicious tactics.' 'India, along with other nations in the region, is not alone.'
New investors should gradually build a 5 to 10 per cent allocation to gold.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
Since their highs in September, chemical stocks have underperformed the benchmarks and broader indices over the past month with larger players witnessing a 9-22 per cent fall during this period. Expectations of weak September quarter results amid high inventory, demand woes and weak realisations have led to the underperformance.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks.
A total of 25,446 Chinese made electronic and Fast Moving Consumer Goods (FMCGs) were seized from the warehouse on Old Airport Road during the recent raids.
The Indian Air Force is probing the incident, an IAF source said.
Reliance had been trying to bring the brand back to the forefront recently, after years of lull, through new ad campaigns highlighting a youthful range, called Unformal, in workwear.
Based on industry estimates, telecom companies, including Bharti Airtel, Reliance Jio, Vodafone Idea and BSNL, are expected to invest over $10 billion on buying 5G telecom equipment in the next five years as they transition from non-standalone networks to standalone 5G networks.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
His attack on the government came days after Indian Army personnel clashed with Chinese soldiers in the Tawang sector in Arunachal Pradesh.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
The scrutiny started when it came to the government's notice that Shelf Drilling, a company that operates one third of ONGC's contracted jackup rig and earns a revenue of close to $220,000 a day, has China Merchant Group as its single largest shareholder.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
Chinese sporting authorities have cancelled next month's friendly international between Argentina and Nigeria amid a growing backlash against Lionel Messi's failure to play in an Inter Miami match in Hong Kong last week.
India has more service companies, such as IT and healthcaresectors, which always trade at a premium to the overall market.
Chinese mobile giant VIVO have pulled out of their sponsorship of this year's Indian Premier League to be staged in UAE, according to reports on Tuesday. VIVO is IPL's title sponsor paying Rs 440 crore annually for the five-year deal.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
The CBI FIR, which contains a findings of the investigating officer who probed the PE, has alleged that Makharia approached Karti through his "close associate/front man" Bhaskararaman, the officials said.
'I am sure our DRDO will surely be on the job towards building similar capability to counter the threat posed by this Chinese helicopter,' observes Air Commodore Nitin Sathe (retd).
'The Chinese outdid them in the price game and turned the competitive dynamics at the lower end of the handset market from price to value.'
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
Caught in the crossfire of Sino-India border skirmishes and strained by the severe impact of the pandemic on its business, Brand Hector is foregoing the bustle and frenzy for a quiet digital campaign that talks about its British roots, the smart tech powering its drive and its made-for-India models. The tone is subdued and the brand seems to be deliberately playing down its ownership by Chinese company, SAIC.
The border guarding force is also moving its mechanised column assets like SUVs, all-terrain vehicles, snow scooters and trucks to forward locations in the midst of the projected increase in the number of troops at border units and fresh directives to undertake 'additional' patrols.
'In their part, the Chinese Foreign ministry maintained that there was no connection between the company concerned and the Chinese government,' he also said.
The IT ministry has now written to all these companies, warning that continued availability and operation of these banned apps, directly or indirectly, is not only illegal but also an offence under the Information Technology Act and other applicable Acts, which would attract penal provisions.
'From our survey we found that there was a problem in the agricultural sector and drones could solve the problem.'
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
Today, the Ladakhis and Tibetans have been joined by the Sikhs, the Madrassis, the Garhwalis, the Rajputs, who are well trained psychologically and otherwise, to defend the nation, observes Claude Arpi.
