Hindenburg Research, the US-based short seller that had targeted several business entities including the Adani Group, is going to be disbanded, founder Nate Anderson has said. “I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on,” he said in a note on the...
Business
Adani Group Stocks Surge, Adani Power Jumps By 19%, Adani Green Gains 14%
Shares of all 11 listed Adani Group firms rallied in early trade on Tuesday, with Adani Power surging 19 per cent and Adani Green Energy gaining about 14 per cent. While Adani Power rose to Rs 535 per share, as trading volume surged 11 times its 30-day average, Adani Green Energy increased to Rs 119 per share. Adani Energy Solutions...
Oil hits more than 3-month high as US sanctions hit Russia exports
Oil prices hit their highest level in more than three months on Monday’s open, extending their rally on expectations that wider US sanctions will affect Russian crude supplies to the world’s top and third largest importers China and India. Brent crude futures climbed $1.35, or 1.69%, to $81.11 a barrel by 2339 GMT after hitting an intraday high of $81.44,...
Adani Group raises Rs 4,850 cr from 13.5% stake sale in Adani Wilmar
Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint...
Tata Motors shares fall over 3% after Jaguar Land Rover sales slip
Tata Motors shares fell 3.2% to an intra-day low of Rs 769.45. The stock was among the major losers in the Nifty 50 on January 09. The drop in share price came after its subsidiary Jaguar and Land Rover (JLR) reported a fall of 3% in retail sales at 106,334 units in the October to December quarter of FY25. However,...
Microsoft, IndiaAI join hands to train 500,0000 individuals on AI by 2026
The government’s artificial intelligence programme unit IndiaAI and Microsoft have partnered to train 5 lakh individuals, including students, educators, developers, government officials, and women entrepreneurs on AI by 2026, a senior company official said on Wednesday. Microsoft India and South Asia President, Puneet Chandok told PTI that the USD 3 billion investment announced by the company’s Chairman and CEO Satya...
Sensex Ends 234 Points Higher, Nifty Holds 23,700; Tata Motors Up 2%
The benchmark equity indices closed in the positive on Tuesday. The 30-share Sensex rose by 234.12 points, or 0.30%, finishing at 78,199.11. The index traded between a high of 78,452.74 and a low of 77,925.09 during the session. The Nifty50 also closed higher at 23,707.90, up by 91.85 points, or 0.39%. The index reached a high of 23,795.20 and a...
Adani Wilmar to expand FMCG portfolio, emulates ITC post-Adani group exit
Adani Wilmar Ltd (AWL), India’s largest edible oil company, is adopting a strategy similar to ITC’s by leveraging its core business and extensive distribution network to drive growth in its high-margin FMCG portfolio after the Adani group exit, according to sources. Just as ITC used its strong cigarette business to expand into FMCG, AWL is set to use its dominant...
Sensex soars over 1,500 pts, Nifty rallies past 24,200 on Q3 earnings optimism and consumption revival
The stock markets in India extended gains on January 2 with the benchmark indices surging nearly 2 percent each after consolidating within a range for almost two weeks amid heavy buying in financial, auto and IT shares. Sensex jumped 1,436.30 points or 1.83 percent — its best single-day gain in more than a month — to settle at 79,943.71. During the...
Nykaa Q1FY25 results: Net profit jumps to Rs 14 crore, revenue up 23%
FSN E-Commerce Ventures, the operator of the Nykaa brand, on Tuesday reported a consolidated net profit of Rs 13.64 crore for the April-June quarter of the financial year 2024-25 (Q1FY25), marking a 152 per cent increase from Rs 5.42 crore in the same period last year (Q1FY24), the company said in a regulatory filing submitted to the stock exchanges. Revenue...
Goldman Sachs sees Nifty at 27K in 2025, bets on housing
Goldman Sachs, the New York-based investment bank, has outlined its strategic vision for Indian equities in 2025. The firm identifies major growth potential in sectors such as housing, agriculture, defense, tourism, and the rapidly growing segment of affluent consumers, which it believes will drive the next phase of economic expansion in India. That said, analysts at Goldman Sachs believe the...
Jubilant Bhartia Group to acquire 40% stake in Coca-Cola’s bottler HCCB
Atlanta-based fizzy drink maker Coca-Cola on Wednesday announced it had reached an agreement with Jubilant Bhartia Group to sell a 40 per cent stake in Hindustan Coca-Cola Holdings (HCCH). HCCH is the parent company of Hindustan Coca-Cola Beverages (HCCB), Coca-Cola’s largest bottler in India. According to sources, individuals familiar with the deal at Bhartia Group have signed non-disclosure agreements with...