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.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
These investors have pumped in about Rs 6,900 crore (Rs 69 billion) in the seven trading sessions after the Federal Open Market Commission meet.
Rahul and Pant, both match-winners in their own rights even with the bat, will like to seize the initiative in these early rounds.
"I had learnt from reliable sources a few months back that Satyendar Jain was going to be arrested in a fake case and now I have learnt from the same sources that Manish Sisodia is going to be arrested in the next few days in another fake case," Kejriwal said at a media briefing.
Led by Olympic champion Neeraj Chopra, India will seek to showcase its ascendency as a sporting power at the Asian Games, which opens formally on Saturday after an unprecedented one-year delay due to the COVID-19 pandemic.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
'They can transition from short to long-duration funds when the yield curve normalises.'
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
India's 71st Republic day celebrations in the United States on Sunday were marred by protests and marches, albeit peaceful ones, against recent changes in the citizenship law by large number of Indian Americans in various cities of the country.
Heightened volatility and lacklustre returns continue to make a dent in retail participation in the equities cash market segment. The percentage of retail participation in the average daily turnover in the National Stock Exchange's (NSE's) cash segment has come down to 40.8 per cent in February 2023, from 52 per cent a year ago. At the peak, retail investors accounted for nearly two-thirds of cash market volumes in July 2020.
Bihar Chief Minister Nitish Kumar and his deputy Tejashwi Yadav on Wednesday met Congress president Mallikarjun Kharge in New Delhi in the presence of Rahul Gandhi.
The number of times public sector undertakings (PSUs) have held conference calls with investors, their capital management, and debt financing are among the parameters that the Centre will use to judge their performance for the first time, a senior official in the know said. The government will evaluate PSUs for FY22 based on new parameters that were finalised by the Department of Public Enterprises (DPE) in consultation with the Department of Investment and Public Asset Management (DIPAM) last year, the official said. The government had included more conditions in the memorandum of understandings (MoUs) - used to set annual targets - that public sector enterprises sign with the DPE every year. These included a consistent dividend policy, which seeks to transfer dividends by PSUs every quarter; and market capitalisation or share price improvement over the sectoral index on an annual average basis for listed companies.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
And it's a strategy that seems to have paid off. Online booking for the motorcycle has been temporarily halted given the huge waiting list of buyers. Orders are still being taken at the dealerships, but the earliest one can expect a delivery is by the end of 2019, reports T E Narasimhan.
The G20 declaration, which hit snags on the language to describe the Ukraine war, amounted to a 'coup' for host Prime Minister Narendra Modi though the final compromise statement reflected a stand far softer than those the United States and its Western allies have adopted on Russia, the world media said on Sunday.
The Delhi Police have registered an FIR against organisers of the wrestlers' protest and their supporters for violating law and order in connection with the scuffle that broke out at Jantar Mantar on Sunday.
The cloud kitchen market in India will hit $1.05 billion by 2023. Just 13% of the total market has been utilised so far.
'Notwithstanding the realisation among the Indian leadership to build up its navy for the force's expanding role, the Indian Navy was allocated only 15% of the interim defence budget presented in Parliament in February 2019.' 'The outlay for the navy's capital acquisition is not even adequate to meet its committed liabilities,' points out Brigadier S K Chatterji (retd).
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
American retail major Walgreens Boots Alliance on Tuesday said it would retain its pharma retail business - Boots UK - thus abandoning the entire sale process. The company did not make any comment specifically on the offer made by Mukesh Ambani-owned Reliance Industries (RIL), which had made a bid for the company last month. "As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Sebi also ordered freezing the voting rights and corporate benefits of promoters of these companies.
As part of the efforts to bring several opposition parties together on a common platform to defeat the BJP in 2024 Lok Sabha polls, Pawar met Kharge on Thursday evening.
The Board Of Control For Cricket In India working committee decided to take a final call on the fate of the IPL franchisee, Deccan Chargers on September 15 in Chennai.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Top leaders of 26 opposition parties were arriving in Bengaluru on Monday for a two-day brainstorming session with a call for unity and are expected to chalk out their joint programme aimed at defeating the Bharatiya Janata Party in the 2024 Lok Sabha elections.
Reliance Infrastructure Ltd on Wednesday said its shareholders have approved raising funds up to Rs 550.56 crore through issuance of shares on a preferential basis. The funds raised would be utilised for long-term resources, for general corporate purposes and to fund future growth, the company said in a regulatory filing.
Kavitha attacked the BJP government at the Centre, alleging it of using the investigation agencies to target political parties and leaders who do not subscribe to its ideology.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The returns from liquid funds, currently, look better than what savings accounts of leading banks are offering, points out Sarbajeet K Sen.
The IPL franchises are now expanding their bouquet of teams across leagues in the West Indies, UAE, South Africa and now the US is another untapped market that wasn't explored despite the Asian diaspora craving for some cricket.
The DMK and its allies submitted a list of pending assembly bills with the Raj Bhavan.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows weighed on investor sentiment. Besides, rising global crude prices impacted the domestic unit, forex traders said. However, a higher opening in the domestic equity market restricted the rupee's fall, they added.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
India will need to look for a successor for Rohit Sharma, who turned 35 in April, after the ODI World Cup next year.
