Rs 1.67 lakh crore was wiped off of Reliance Industries Ltd’s (RIL) investors as shares of the company tumbled 9.6% on BSE today as poll counting estimates showed that Prime Minister Narendra Modi-led NDA alliance was not likely to score as much as exit polls had predicted in the 2024 Lok Sabha elections. Shares of … Read more
Adani Group chairman, Gautam Adani, is considering purchasing a stake in Paytm’s parent company One97 Communications, reported The Times of India quoting sources familiar with the matter. As per the report, Paytm founder and CEO Vijay Shekhar Sharma visited Adani at his office in Ahmedabad to “finalise the contours of a deal” on Tuesday. If … Read more
Mumbai: The Indian capital markets regulator has hardened the conditions under which foreign portfolio investors (FPIs) with outsized exposures would be spared from making full disclosure of the investors in the fund. This was communicated by the Securities & Exchange Board of India (Sebi) to custodians of offshore funds, two persons aware of the regulatory … Read more
Mumbai: India’s benchmark indices soared to fresh all-time highs on Thursday as the Reserve Bank of India’s larger-than-expected dividend payment to the government prompted traders to cover some of their bearish bets. Receding uncertainty over the BJP’s performance in the general elections also bolstered sentiment, with the NSE Nifty ending a whisker away from 23,000. … Read more
Mumbai: Six Adani Group firms have received so-called show-cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions, non-compliance of listing rules and validity of auditor certificates in the past, these companies said in their regulatory filings to the stock exchanges. On Thursday, Adani Enterprises, the flagship … Read more
The Adani group will dominate the earnings today with three of the conglomerate’s companies set to release their numbers for the quarter ended March 2024. Despite being a market holiday, 18 companies will announce their fourth quarter on Wednesday. Other companies which are set to release their numbers include Bondada Engineering, Classic Filaments, Cigniti Technologies, … Read more
With the fourth quarter earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major earnings of Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, Adani Energy, Adani Power, Ambuja Cements, Adani Wilmar, Adani Enterprises, Coal … Read more
Mumbai: More than half a dozen foreign portfolio investors (FPIs) that owned substantial stakes in Adani Group firms are looking to settle securities violation matters with markets regulator Sebi, said people familiar with the matter. They have agreed to pay a certain amount as fines, the people said. The legal representatives of eight FPIs – … Read more
Sandip Sabharwal, asksandipsabharwal.com, says all the large group stocks have already done quite well. Look at the Tatas, the Mahindra Group, Adanis or Reliance. It is tough to pick out a group at this stage. The main thing is that if the economy can sustain 7-8% growth over the next few years, my guess is … Read more
Maharashtra Chief Minister Eknath Shinde has said that the state has inked memorandums of undertaking (MoUs) worth Rs 3,53,675 crore at the World Economic Forum 2024 in Davos, Switzerland. Shinde thanked investors, noting the increased confidence of global industries that showed interest in investing Rs 1 lakh crore in Maharashtra. These MoUs have the potential … Read more
