Adani Group’s market capitalisation on Wednesday regained USD 200 billion-mark (Rs 16.9 lakh crore) after its listed firms gained Rs 11,300 crore as investors reposed faith on the company denying any wrongdoing in supply of coal to Tamil Nadu power company. With Rs 11,300 crore gain on Wednesday, the apples-to-airport conglomerate gained Rs 56,250 crore...
India Ratings and Research expects the country’s GDP growth rate for the March quarter at 6.7 per cent and around 6.9-7 per cent for the 2023-24 fiscal, its principal economist Sunil Kumar Sinha said. The GDP numbers for the fourth quarter (January-March 2024) and the provisional estimates for the 2023-24 fiscal are scheduled to be...
A coalition of Tesla Inc. shareholders is urging other investors to reject a $56 billion pay package for Chief Executive Officer Elon Musk at the company’s June 13 annual meeting, posing a threat to one of the world’s largest fortunes. Amalgamated Bank, SOC Investment Group and six other signatories that hold a small portion of...
Veteran banker Uday Kotak on Friday highlighted that India has fast changed from a nation of savers to a nation of investors. Speaking at the CII annual business summit on Friday, Kotak noted that India had a ‘rough history’ in the financial sector between 2010 and 2020. He further noted that earlier companies used to...
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that...
A federal court ordered on Tuesday that Elon Musk must testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter. The SEC sued Musk in October to compel the CEO of electric carmaker Tesla (TSLA.O), opens new tab and rocket company SpaceX to testify after he refused to attend a...
Shares of auto major Tata Motors in early trade on Monday fell close to 7 per cent to day’s low price of Rs 975.45 after posting a mixed set of earnings for the March quarter on Friday. For the reporting quarter, the company’s consolidated profit after tax (PAT) climbed 222 per cent year-on-year (YoY) to...
Lok Sabha elections: On Monday, 96 Lok Sabha constituencies across nine states and one Union territory went to the polls, marking the fourth phase of the ongoing general elections. Voting for all Assembly seats of Andhra Pradesh and 28 Assembly seats of Odisha also began simultaneously. A total of 175 seats of the State Legislative Assembly of...
TBO Tek’s Rs 1,551-crore initial public offering (IPO) continued to receive strong investor response entering the third and final day on May 10 as the issue was subscribed over nearly 86.70 times. Investors have bid for 80.50 crore equity shares as against 80.50 lakh shares on offer. NIIs showed interest in the offer, buying nearly 50.60...
Tesla Inc.’s directors say they don’t want a do-over in Texas of the Delaware court battle that killed co-founder Elon Musk’s $56 billion pay package — regardless of whether shareholders approve reincorporating the electric-car maker in the Lone Star state. Lawyers for Tesla’s board say an investor who persuaded a Delaware judge to void Musk’s...