ADANI STOCKS
Zomato to replace JSW Steel in BSE Sensex from December 23
Food delivery company Zomato will replace JSW Steel in the BSE Sensex as part of the index reconstitution which becomes effective from December 23.
Japanese retail funds start pulling out of Indian stocks for 1st time since 2018
Japanese retail investors have pulled back from Indian funds for the first time in six years, leading to significant outflows from Indian markets. This shift, combined with record inflows into US funds, signals a cooling of foreign investor sentiment towards India. The weakening yen and rising appeal of US assets have contributed to this trend.
Adani Group stocks reverse losses, surge up to 4% a day after US charges Gautam Adani
Adani Enterprises Share Price: Most Adani Group stocks ended in the green on Friday after witnessing significant cuts on Thursday following a US court's indictment of Chairman Gautam Adani and seven others in a bribery case. Ambuja Cement and ACC saw significant gains. The Adani Group, has however, denies the allegations.
Market Wrap: RIL, IT stocks fire Sensex 1,960 points higher, Nifty tops 23,900. Top 6 factors behind the bull run
Stock Market Today: Indian equity markets surged over 2,000 points, rebounding from a five-month low, driven by positive US job market data and a rally in IT and Adani stocks. Investors capitalized on recent declines, buying into a market buoyed by global gains and a resurgence in PSU bank stocks.
GQG Partners rebounds over 15%; co announces share buyback
GQG Partners, a significant investor in Adani Group stocks, saw its share price rebound after a sharp drop following US fraud charges against Adani executives. GQG is reviewing the charges but emphasized that most of its clients' assets are not invested in Adani Group companies.
Sebi investigating whether Adani Group flouted disclosure rules: Report
India's market regulator, SEBI, is investigating Adani Green Energy Ltd. for potential disclosure violations regarding a US Justice Department bribery probe. The investigation centers on whether Adani Green adequately informed investors about the investigation and its scope, particularly the involvement of individuals linked to the Adani Group.
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Adani Group under fire, once again: The bribery indictment story so far and what next?
Adani Share Price: US prosecutors have accused Gautam Adani and seven others of bribery. They allegedly paid millions in bribes to Indian officials for contracts. Adani Group denies the charges. The company's stocks and bond prices have dropped. Political parties in India are debating the issue. Adani Group may appeal the charges or try to settle.
PSU bank stocks rally 2% as investor confidence returns
Public sector bank stocks, led by SBI, Bank of Baroda, and PNB, rebounded 2% on Friday after investor confidence returned, easing concerns over exposure to the Adani Group and boosting sentiment.
ACC, Adani Enterprises among 6 Adani Group stocks where FIIs cut stakes in CY2024
Foreign Institutional Investors (FIIs) have been reducing their holdings in several Adani Group stocks over the past three quarters, while increasing stakes in others. This comes amidst allegations of bribery and fraud against Adani Group Chairman Gautam Adani by the US Securities and Exchange Commission, leading to a significant drop in the company's market value.
Your ¡®SIP sahi hai¡¯ mantra translates to ¡®QIP sahi hai¡¯ for India Inc promoters
Indian companies have raised a record Rs 97,000 crore this year through qualified institutional placements (QIPs), capitalizing on strong domestic market flows and sustained mutual fund SIP inflows. Promoters are taking advantage of high valuations to raise capital, even as some analysts warn of a potential market correction.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
Indian billionaire Gautam Adani and associates are facing U.S. charges for allegedly orchestrating a multi-million dollar bribery scheme to secure a solar energy contract. Authorities allege Adani bribed local Indian officials to ensure the purchase of solar power, misleading U.S. investors in the process. The alleged scheme, spanning several years, involved falsified documents and hidden transactions during fundraising efforts.
Stocks in news: Adani Enterprises, Adani Green, JSW Energy, Afcons Infra, Tata Power
Shares of Adani Enterprises, Adani Green and few other group stocks will be in focus following a sharp 20% fall on Thursday due to US indictment against Gautam Adani.
GQG loses Rs 8,170 cr on Adani shares; also skids 20% on Australian bourse
Shares of GQG Partners plunged 20% on the ASX (Australian Securities Exchange) on Thursday, eroding nearly ?8,100 crore (approx. US $950 million) or 16% of its market value.
Adani stocks take Rs 2.24 lakh crore hit
Ten out of the 11 Adani stocks fell 6% to 24% in Thursday's trading. Shares of the flagship company Adani Enterprises declined the most at 23.44%, and Adani Energy Solutions and Adani Wilmar plunged 20% and 10%, respectively.
Charges against Gautam Adani in bribery case credit negative for Adani companies: Moody's
Gautam Adani and seven others were indicted in a US bribery case. Moody's said the indictment is credit negative for Adani Group companies. Adani Group stocks and dollar bond prices fell sharply. Adani bull GQG Partners said it was reviewing the emerging details. GQG's statement came after its stock tumbled 26% in Australia.
Adani bull GQG caught in cross-firing as shares crash 26%, may review portfolio
GQG Partners Share Price: GQG Partners, an investment firm that heavily invested in Adani stocks, is reviewing its portfolio following U.S. prosecutors indicting Gautam Adani and others on bribery charges. GQG's shares plummeted 26% after the news, while Adani Group stocks fell by up to 20% in India.
GQG hiked stake in 4 Adani stocks, LIC booked profit in 2 in Q2
GQG Partners increased its stake in four Adani Group companies during the September quarter, while LIC reduced its holdings in two. These changes occurred before the recent allegations against Gautam Adani. The Adani Group has faced investor uncertainty since the Hindenburg report.
$12 billion bill for $265 million bribe charges! How Gautam Adani can fight back
Indian billionaire Gautam Adani and Adani Group executives are facing US charges. They are accused of bribing Indian officials to secure power supply contracts. The charges caused a significant drop in Adani's net worth and impacted Adani Group company stocks. Adani Group denies the allegations and plans to pursue legal options, including a potential settlement.
Rs 2.24 lakh crore gone! Adani stocks record worst day since Hindenburg crisis
The Adani Group experienced its worst trading day since the Hindenburg controversy, with a Rs 2.24 lakh crore market cap drop following bribery charges against Gautam Adani and other executives by US prosecutors. Adani's net worth plunged by $12 billion, and shares of Adani companies plummeted, impacting bond markets and prompting concern from investors like GQG Partners.
Market Wrap: Adani Group stocks drag Sensex down 422 points, Nifty to 23,350; BSE Mcap erodes by Rs 6.7 lakh crore
Indian headline index fell sharply in the day's trade on Thursday while recovering some losses towards the end. Weighed down by a sell-off in Adani Group stocks following an indictment of Chairman Gautam Adani and several others in a $250 million bribery case, the S&P BSE Sensex closed at 77,155.79, down by 422.59 points or 0.54% while the broader Nifty50 finished at 23,349.90, lower by 168.60 points or 0.72%.
Adani Ports shares sink 20% as Gautam Adani faces US bribery charges
Adani Ports Share Price: Shares of Adani Ports & Special Economic Zone plunged 20% to Rs 993.85 on Thursday after U.S. prosecutors indicted Gautam Adani, his nephew Sagar Adani, and six others on charges of bribery and fraud. The indictment claims the group offered $265 million in bribes to Indian officials to secure solar contracts, potentially generating $2 billion in profits over 20 years.
Gautam Adani¡¯s wealth drops over $10 billion in a day amid U.S. bribery scandal
Billionaire Gautam Adani, chairman of the Adani Group, saw his net worth drop by $10.5 billion to $59.3 billion in a single day, following bribery and fraud charges brought by U.S. authorities. His brother, Vinod Adani, also faced a significant loss of $4.7 billion, reducing his net worth to $15.5 billion.
PSU bank stocks fall up to 7%, trail overall market weakness
PSU bank stocks, including SBI, Canara Bank, PNB, and Bank of Baroda, dropped significantly, while Adani Group shares also fell sharply after bribery and fraud charges, weakening the Indian rupee.
PSP Projects shares dip 9% as Adani Infra to buy 30% stake in company
PSP Projects share price: Adani Infra is set to acquire a 30.07% stake in PSP Projects from existing shareholder Prahladbhai S. Patel. The deal aims to boost PSP Projects' growth in the Indian infrastructure sector, with Adani planning significant investments. PSP Projects will retain its current leadership, but Adani Infra will gain equal board representation.
Adani shares crash up to 20% after Gautam Adani indicted in US on bribery, fraud charges
Adani Enterprises Share Price: Gautam Adani and seven others were charged in the US in a multibillion-dollar bribery and fraud case. Adani Group company stocks fell sharply. Adani and the others are accused of bribing Indian officials to secure solar energy contracts. They allegedly defrauded US investors. The US Securities and Exchange Commission filed charges. Adani Group scrapped a $600 million bond offering.
Hot Stocks: Brokerage sees 18-20% in Paytm & Eicher Motors; Investec sees over 50% upside in Adani Energy
Investec has initiated coverage on Adani Energy with a "Buy" recommendation, citing significant opportunities in the transmission and smart metering segments
Stocks in news: Airtel, Vedanta, Godfrey Phillips, UPL, Adani Enterprises
Fitch Ratings has maintained its 'B-' rating for Vedanta Resources Ltd (VRL), the parent of Vedanta, while assigning a positive outlook that signals potential upward momentum.
PSP Projects shares zoom nearly 15% on Adani buying majority stake buzz
Shares of Gujarat-based PSP Projects surged 14.5% to Rs 452.45 on the BSE following reports that the Adani Group is in talks to acquire a 60.14% majority stake in the company. The deal could trigger an open offer for an additional 26% stake from public shareholders. This move aligns with Adani Group's broader expansion strategy across key infrastructure sectors.
Market Wrap: IT stocks drag down Sensex, Nifty on Powell's rate comments
Indian stock markets closed lower on Monday, dragged down by IT stocks after Federal Reserve Chair Jerome Powell hinted at delayed interest rate cuts due to strong U.S. economic growth. The Sensex fell 241 points, while the Nifty slid 79 points. Tech companies like TCS and Infosys were among the top losers.
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