A new government has taken office in Australia, which has said it will review its predecessor's controversial proposal for a 40 per cent super-profit tax on mining revenues.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
In the next three years, Tata Power will invest anywhere between $150-200 million.
Adani's Carmichael project has been stuck in the approvals process for the past five years.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
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Issue in two months for Australian projects; group to invest another $15 billion in infrastructure projects by 2020.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
India Inc has few leaders who are likely to grab headlines in 2015.
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