Former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has strongly refuted allegations of bribery by the Adani Group for solar power purchases during his government. He claimed his name was not mentioned in a US court's indictment and that meetings with Adani Group chairman Gautam Adani were not unusual for a chief minister. Reddy said the power supply agreement was between the state's DISCOMs and SECI, with no third-party involvement. He also defended the deal, calling it 'historic' and highlighting the cost savings for the state. Meanwhile, former CM N Chandrababu Naidu has alleged irregularities in the deal and promised to act upon the alleged charges.
After a strong run in the midcap and smallcap indices, which surged 46 per cent and 43 per cent, respectively, on the National Stock Exchange (NSE) during Samvat 2080, analysts suggest that the rally in these segments may pause to catch its breath in Samvat 2081.
England Test captain Ben Stokes has returned the compliment to Virat Kohli, saying he has always admired the energy and commitment that the Indian star brings to the field.
India has served a formal notice to Pakistan seeking a review of the Indus Water Treaty, arguing that 'fundamental and unforeseen' changes in the circumstances require a reassessment of the pact.
'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.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
Grandmaster Dommaraju Gukesh played out a hard-fought draw yet again, signing peace with top seed and local favourite Fabiano Caruana.
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.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
India seeks to play a supportive role for a peaceful and stable region, Prime Minister Narendra Modi said on Monday as he embarked on a high-profile visit to Russia to hold summit talks with President Vladimir Putin amid the conflict in Ukraine.
The Securities and Exchange Board of India's (Sebi's) board on Wednesday allowed foreign portfolio investors (FPIs) to trade in exchange-traded commodity derivatives. The move, it said, "will enhance liquidity and market depth, as well as promote efficient price discovery." Overseas investors will only be allowed to deal in non-agricultural commodity derivatives and only cash-settled contracts.
Delivering a thinly veiled message to Pakistan from its soil, External Affairs Minister S Jaishankar on Wednesday said activities across borders characterised by the 'three evils' of terrorism, extremism and separatism are unlikely to encourage trade, energy flows and connectivity.
Prime Minister Narendra Modi on Friday received Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', making him the first foreign Head of the Government to receive the honour.
Prime Minister Modi will hold in-person meetings with President Putin for 8-9 hours during his nearly 24-hour stay in Russia, they said.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
The White House readout of the call had no reference to Bangladesh, which was mentioned in an 'X' post by PM Modi.
Modi, who is visiting Ukraine at the invitation of President Volodymyr Zelenskyy, has said that he will share with the Ukrainian leader perspectives on peaceful resolution of the ongoing conflict.
Indian Energy Exchange has joined world's leading power exchanges like Powernext (France), EEX (Germany, Northern Europe), PJM (USA), JEPX (Japan and Norway's Nordpool which is the largest power exchange in the world). IEX, India's first power exchange got its approval from CERC on August 31, 2007. It is promoted by Financial Technologies Ltd & PTC financial services, a wholly owned subsidiary of PTC India Ltd. Joseph Massey, Deputy MD of MCX, is in charge of the exchange.
Benchmark equity indices Sensex and Nifty slumped over 1 per cent on Friday, tracking a weak trend in global markets and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93.
The Central Electricity Regulatory Commission (CERC) has convened a hearing on March 23 to consider various remedial measures to contain transmission congestion that is severely affecting the flow of power to the southern states. The power exchanges and load dispatch centres would make their submissions at the meeting.
Prime Minister Narendra Modi and US President Joe Biden will have a substantive engagement on the sidelines of the Quad summit on Saturday, and the two sides will sign at least two agreements following the talks.
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI and HUL. NSE Nifty advanced 52.35 points to 18,308.10.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
'Chinese are going bang, bang, bang building 30-35 reactors.' 'We should announce a programme of 50 new reactors and show that we mean business on the ground and not just announcements.'
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
IC 814: The Kandahar Hijack begins by asking why the hijack lasted seven days and ends in wondering if the good guys fought the bad ones hard enough, observes Sukanya Verma.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
India's tennis campaign at the Paris Olympics lasted just a day as Sumit Nagal and the men's doubles pair of Rohan Bopanna and N Sriram Balaji bowed out after losing their respective opening matches to French challengers in Paris Sunday.
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