Business

Stocks of Adani Group companies fell up to 20% on Thursday after billionaire Gautam Adani and seven others faced charges in the United States in a multibillion-dollar bribery and fraud scheme. Prosecutors announced the charges on Wednesday, alleging that the group bribed Indian officials to secure solar energy contracts.

The initial public offering (IPO) of NTPC’s renewable energy arm, NTPC Green Energy, opens for public subscription today, November 19, 2024. Ahead of the IPO launch, the company announced that it has raised Rs 3,960 crore from anchor investors through bidding concluded on November 18, 2024.  The Rs 10,000 crore offering of NTPC Green Energy is a book-built issue comprising a fresh...

ALMOST a month after the US Department of Justice (DoJ) charged him with “murder-for-hire” and money laundering in connection with the alleged plot to kill pro-Khalistan separatist figure Gurpatwant Singh Pannun, Vikash Yadav has moved an application before a Delhi court requesting to grant him exemption from attending his case hearing saying there’s a security threat to his life. The court Saturday...

With onion prices reaching Rs 70 per kilogram (kg) in the market, the Odisha government on Wednesday said it has asked the National Agricultural Cooperative Marketing Federation of India Limited (NAFED) to sell the vegetable at the rate of Rs 30 per kg in the state. State Food Supplies and Consumer Welfare Minister K C Patra attributed the price rise...

Driven by a sharp increase in prices of food products, particularly the vegetables, India’s retail inflation touched a 14-month high in October. The inflation based on the consumer price index increased to 6.21 per cent in October, up from 5.49 per cent in September, according to the data released by the Ministry of Statistics and Programme Implementation on Tuesday. In...

Singapore Airlines (SIA) will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India following the merger of Vistara in November 2024. The merger, which was announced on November 29, 2022, and is expected to be finalised by November 11, 2024, will give Singapore Airlines a 25.1 percent stake in the expanded Air India. ‘ Vistara, the full-service...

Mumbai: Former US president Donald Trump’s return to the White House fuelled a market rally in India on Wednesday, propelled by technology stocks, riding hopes that his pro-business stance will spur spending and growth in the world’s largest economy. Indian benchmark indices, which tracked global peers to rally by over 1% each amid trends pointing to Trump’s victory, could extend...

Reliance Industries, which is owned by Asia’s richest man Mukesh Ambani, is one of the most valued firms that has expanded in almost every sector. The multinational conglomerate’s businesses include natural gas, retail, energy, petrochemicals, entertainment, telecommunications, textiles, and mass media. However, the company witnessed a massive drop in its shares on Monday. Reliance’s share plunged 3 percent to Rs...

Amazon founder Jeff Bezos recently sold over $3 billion worth of Amazon shares, adding to a total of $13 billion in stock sales this year. A regulatory filing obtained by GeekWire reveals that this latest transaction involved more than 16 million shares. The timing aligns with Amazon’s stock price nearing $200 per share, a level it last achieved in July 2024, when Bezos also executed...

Sensex and Nifty opened higher today (August 16) tracking positive cues from global peers as US economic data eased recession fears. Buying was seen across all the sectors and the market capitalisation of all listed companies on BSE surged by ₹4.15 lakh crore to ₹448.44 lakh crore. Sensex was trading 824 points higher at 79,930 and Nifty50 was up 244 points trading...

InterGlobe Aviation Ltd (IndiGo’s parent) on Friday recorded a net loss of Rs 986.7 crore in the second quarter of financial year 2024-25 (Q2 FY25) due to higher fuel costs and a peak number of groundings. The airline had posted a profit of Rs 188.9 crore in Q2 FY24. InterGlobe Aviation Ltd (IndiGo’s parent) on Friday recorded a net loss...

The rally in Indian mid-and smallcap indices thus far in calendar year 2024 (CY24) has been the best in class across the world, eclipsing the global FTSE benchmarks, and also out running peers from other leading world stock markets.  This is despite the correction in the mid-and smallcap segments back home seen in the last few days, triggered by valuation...