SECURITIES
Adani Bribery Case: Here are 5 setbacks that followed post indictment
The Adani Group faces setbacks as global banks consider halting new credit lines following a US indictment alleging bribery. Indian regulators are investigating potential disclosure violations, while Kenya scrapped Adani projects. S&P downgraded the outlook for three Adani firms, and the group's stocks experienced a rout, though they partially recovered.
Adani shock exposes ESG fund managers clinging to ¡®terrible¡¯ bet
ESG funds, despite charging higher fees for supposedly rigorous screening, face scrutiny for holding shares of Adani Green Energy. This comes after US prosecutors charged Gautam Adani with bribery, alleging a scheme to secure solar energy contracts. Critics argue that the situation exposes flaws in ESG assessments, particularly concerning governance in emerging markets.
What's next for Gautam Adani after U.S. bribery, fraud charges?
Indian billionaire Gautam Adani faces charges in the U.S. for allegedly orchestrating a massive bribery scheme to secure solar energy contracts. Prosecutors allege over $250 million in bribes were paid to Indian officials. While Adani remains in India, he could face extradition and decades in prison if found guilty.
84% of Indian stockbrokers to increase tech spending on AI, algo trading: Report
Nearly 84% of Indian stockbrokers plan to increase IT budgets in 2024-25, with a focus on AI, machine learning, and other emerging technologies. This reflects the industry's growing focus on adopting transformative technologies to enhance efficiency and scalability.
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.
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.
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Stock Radar: Down over 20% from highs! Macrotech Developers break out from inverse Head & Shoulder pattern; time to buy?
Macrotech Developers stock shows signs of a potential upward trend. The stock recently broke out from a specific pattern, indicating a possible reversal of its previous downward movement. This presents a buying opportunity for short-term traders. Analysts suggest a target price range for the stock in the coming months.
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.
NSE Investments to offload 20% stake in Protean eGov via OFS, sets floor price at Rs 1,550/share
NSE Investments will sell up to 20.31% stake in Protean eGov Technologies via an OFS. The floor price is set at Rs 1,550. The OFS will open for non-retail investors on Friday and for retail investors on Monday. NSE Investments is a wholly-owned subsidiary of NSE.
Sebi abolishes 1% security deposit requirements in public issues
Markets regulator Sebi on Thursday abolished the requirement of a mandatory security deposit with the exchanges before a public issue in a bid to facilitate ease of doing business for issuer companies. The move will be applicable with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular.
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.
Shankar Sharma flags CLSA India note as "trap" amid market optimism
Market expert Shankar Sharma issued a cautionary note to Indian investors, criticizing a recent report from global brokerage firm CLSA that shifted its investment focus from China to India. In a post on X (formerly Twitter), Sharma labeled the report as a "trojan horse" and a "typical trap" for retail and domestic institutional investors (DIIs), warning against excessive optimism in the current market environment.
Escalating tensions in Europe erode early gains on D-St; FPIs further sell shares worth Rs 3,412 cr
India's Nifty index broke a seven-day losing streak, edging up slightly on Tuesday as investors sought bargains after recent losses. However, gains were limited by escalating tensions between Ukraine and Russia, leaving the market outlook uncertain.
Swiggy shares can rally up Rs 475, says Motilal Oswal as it initiates a ¡®Neutral¡¯ rating
Motilal Oswal initiated coverage on Swiggy with a "Neutral" rating, citing execution risks and competition. They set a target price of Rs 475, emphasizing Swiggy's growth in quick commerce.
Sebi asks CRAs to verify issuers' funds availability, escrow payments in certain cases
These additional guidelines have been introduced to address scenarios of non-payment of debt (principal or interest) caused by factors beyond the issuer's control.
Oyo's share dips to Rs 55 despite strong second quarter profits
Oyo's shares are currently trading at a discounted valuation despite the company reporting strong financial performance and projecting significant EBITDA growth. Investors are closely monitoring the market and anticipating a successful IPO in the future, driven by Oyo's impressive profitability and recent acquisition of G6 Hospitality.
Royalty payments by some listed companies exceed 20% of profits
A new study by the Securities and Exchange Board of India (SEBI) has revealed that listed companies in India frequently pay substantial royalties to related parties, often exceeding 20% of their net profits. The regulator is considering stricter regulations, including cumulative royalty limits and sunset provisions, to address concerns about potential financial risks and shareholder value erosion.
HDFC Securities initiates coverage on Swiggy, sets target price of Rs 430
HDFC Securities has initiated coverage on Swiggy, assigning an "Add" rating with a target price of Rs 430, based on the company's strong brand presence and user base. While the brokerage is optimistic about Swiggy's growth potential in quick commerce, it cautions that operational challenges may affect long-term profitability.
Mutual funds vs PMS: How to choose right wealth management solution for your needs
Portfolio Management Services (PMS) offer a tailored investment approach with higher risk and potential returns, suitable for high-net-worth individuals. Mutual funds, on the other hand, provide a diversified and regulated investment option suitable for a broader investor base. The choice between the two depends on individual financial profile, risk tolerance, and investment objectives.
Zinka Logistics IPO Day 1: Check GMP, Price Band, Subscription, Key Dates, Review,
The IPO of Zinka Logistics, operator of the BlackBuck platform, has been subscribed 21% on its first day of bidding. As of 1:15 pm, the issue received 46,70,514 bids out of the total 2,25,67,270 available. Retail investors led the demand with a 35% subscription, followed by qualified institutional buyers (QIBs) at 26%.
Sebi extends deadline till Nov 26 for comments on proposed specified digital platform
Markets regulator Sebi on Tuesday extended the deadline for public comments till November 26 on the proposal concerning requirements for recognition as specified digital platforms (SDPs). Earlier, the comments from the public were sought till November 12.
Nisus Finance Services secures BSE approval to launch IPO
Nisus Finance Services has received Bombay Stock Exchange approval for its IPO, offering 65 lakh equity shares. Proceeds will enhance infrastructure, obtain licenses, fund expansion in global hubs, and support general corporate purposes and fundraising costs.
Sagility India shares list at 3.5% premium over IPO price
Sagility India Share Price: Sagility India debuted on the stock exchanges on Tuesday with a 3.5% premium over its IPO price. The company's Rs 2,106 crore IPO, entirely an offer-for-sale, saw a three-fold subscription. Despite recent profit declines, Sagility India, a provider of technology solutions for US healthcare, saw a 59% surge in net profit for FY24.
Tesla options draw 'euphoric' trading as Trump win fires up stock
Tesla shares surged by 8% due to investors' optimistic outlook on Elon Musk's connection with then President-elect Donald Trump. The stock reached its highest point in over two years. Trading activity in Tesla options was exceptionally high, with a significant portion concentrated in short-term contracts. Analysts suggested that a Trump administration could be advantageous for Tesla.
Bandhan Bank, small finance banks see higher slippages as microfinance lending persists
Bandhan Bank and other small finance banks that transitioned from microfinance faced higher slippages in Q2. Despite efforts to reduce micro-ticket lending and increase secured portfolios, 75-80% of fresh slippages originated from the microfinance business
SC junks Sebi plea against SAT Relief to RIL, Ambani brothers
The Supreme Court dismissed SEBI¡¯s appeals against penalties on Reliance Industries and its promoters, which were quashed by the Securities Appellate Tribunal (SAT). However, the court agreed to hear Reliance¡¯s cross-appeal regarding the price manipulation case involving RPL shares
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analyses, the report also collates analysts¡¯ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools ¨C earnings, fundamentals, relative valuation, risk, and price momentum.
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