CreditSights has dialed back on its language on debt levels at richest Indian Gautam Adani's group but has maintained that the group's leverage is elevated. In a new note published after discussions with the group's management, CreditSights, a Fitch group firm, said it "has discovered calculation errors" in its recent debt report on two Adani Group companies but these did not change its investment recommendations. On August 23, CreditSights stated that the Adani group was "deeply over-leveraged" and may "in the worst-case scenario" spiral into a debt trap and possibly a default.
Investors' wealth jumped Rs 2,93,054.25 crore on Thursday as markets returned to winning ways after falling for three straight sessions. The 30-share BSE benchmark Sensex zoomed 638.70 points or 1.22 per cent to close at 52,837.21. During the day, it gained 668.75 points to 52,867.26. Tracking the bullish trend, the market capitalisation of BSE-listed companies jumped Rs 2,93,054.25 crore to reach Rs 2,33,94,917.25 crore.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
Indian CEOs just want to drive a Mercedes-Benz, despite the bevy of luxury cars that have hit the roads in the recent past.
Lenovo, Xiaomi, Vivo, Gionee lead the onslaught, beating Indian and global brands with smart deals and astute image management measures.
Bharti Airtel will be the only Indian service provider to be a part of a consortium of 15 global telecommunication companies that will build the Europe India Gateway cable system at a project cost of $700 million
Norton report says Indians putting themselves at risk over Wi-Fi usage
Titan was the top laggard in the Sensex pack, shedding 1.39 per cent, followed by HDFC, Axis Bank, Kotak Bank, HCL Tech and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv and ICICI Bank were among the winners, spurting as much as 3.25 per cent.
Mumbai-based Reliance Communications increased voice call prices by about a fifth late last month and also increased the base tariff for voice calls.
The CAG has suggested canceling nationwide broadband spectrum allocated to Infotel Broadband Services, now a Reliance Industries company, for allegedly rigging the auction and violating rules.
Ten Indian companies led by the likes of state-run Bharat Heavy Electricals, telecom major Bharti Airtel and Mukesh Ambani-led Reliance Industries have made their way into the Forbes' list of 50 best listed companies in the Asia-Pacific region.
Despite the $11.7 billion raised by Reliance Industries Ltd (RIL) through stake sales, venture investments in 2020 have declined by a fifth to $28.9 billion till September, consultancy firm EY said in a report on Thursday. Since mid-March, coronavirus infections started getting reported in the country, which has now become the second highest globally in terms of numbers. The lockdowns severely dented economic activity, leading to a 23.9 per cent contraction in the gross domestic product (GDP) for the April-June period and expectations of a 9.5 per cent contraction by the Reserve Bank of India (RBI) for 2020-21.
Eminent rocket scientist S Somanath has been appointed as the chairman of the Indian Space Research Organisation as well as the space secretary, a personnel ministry order issued on Wednesday said.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
