Congress had favoured Tata, Birla, Ambani: BJP’s Nishikant Dubey counters Rahul Gandhi’s allegations
NEW DELHI: BJP member Nishikant Dubey on Tuesday countered the allegations levelled by Congress leader Rahul Gandhi in Lok Sabha against the Narendra Modi government, saying the Congress itself had favoured several industrial houses like the Tata, Birla and Ambani. Earlier, while participating in the debate on Motion of Thanks to the President’s Address, Gandhi […]
Adani Enterprises share price has 40% more downside: NYU professor Aswath Damodaran
Shares of Adani Group’s flagship firm are overvalued on some metrics despite plunging more than 50% in the rout triggered by US short seller Hindenburg Research’s scathing report last month, according to a New York University finance professor. Adani Enterprises Ltd. yielded a value of 945 rupees per share even before “factoring any of the […]
Rahul Gandhi questions surge in Gautam Adani’s fortunes, claims it happened after BJP came to power
NEW DELHI: A belligerent Rahul Gandhi on Tuesday led a blistering opposition attack in Lok Sabha over the Hindenburg report, claiming that the meteoric rise in Gautam Adani’s fortunes happened after the BJP came to power in 2014 as he rose in the global rich list from the 609th to the second spot eventually. The […]
Prime Minister Narendra Modi will do his best to avert Adani issue in Parliament: Rahul Gandhi
NEW DELHI: Congress leader Rahul Gandhi on Monday said Prime Minister Narendra Modi will do his best to avert a discussion on the Adani issue in Parliament, asserting that the country should know what power is behind the billionare businessman. “Modi ji will do his best to avert a discussion on Adani ji in Parliament. […]
Ahead of maturity in September 2024, Adani Group to pre-pay $1.1 billion
NEW DELHI: Adani Group on Monday said that the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. “This is in continuation of […]
‘Hum Adani Ke Hain Kaun’: Congress launches fresh attack on Narendra Modi
NEW DELHI: The Congress on Sunday stepped up its attack on the Centre over allegations against the Adani group, alleging that the Modi government’s “loud silence” over the issue “smacks of collusion”. Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent […]
Relax paddy procurement norms to help farmers in Cauvery delta: Stalin
CHENNAI: Ready for harvest paddy crops spread over one lakh hectares in Cauvery delta region has submerged following unseasonal rainfall, Tamil Nadu Chief Minister M K Stalin apprised Prime Minister Narendra Modi on Sunday and urged relaxation of paddy procurement norms including stipulation on moisture content. When paddy (Samba) is all set for harvest this […]
IndiGo parent posts 1,000% jump in profit to Rs 1,422.6 crore in December quarter
NEW DELHI: InterGlobe Aviation, the parent of the country’s largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel. The company had a Profit After Tax (PAT) of Rs 129.8 crore in the same period […]
Mumbai: Civic budget on February 4; exercise for the first time since 1985 under administrator
NEW DELHI:The budget of Brihanmumbai Municipal Corporation (BMC) for the fiscal 2023-24 will be presented on February 4, the first time since 1985 that the exercise is being undertaken when the term of the corporators have ended and the financial capital’s civic body is under an administrator. The polls to BMC are pending due to […]
India:Union Budget 2023-24 Highlights
NEW DELHI: India’s Finance and Corporate Affairs Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament today. The highlights of the Budget are as follows: PART A Per capita income has more than doubled to ₹1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in […]
Andhra Pradesh capital to be shifted to Visakhapatnam;Kicks-off Global Investors’ Summit 2023 with diplomatic meet
NEW DELHI: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday said the State capital would be shifted to Visakhapatnam. Addressing the preparatory meeting for the Global Investors Summit to be held in Visakhapatnam in March, Jagan said he would be shifting his office to the port city in the months to come. ”Here […]
Fraud cannot be obfuscated by nationalism: Hindenburg on Adani ‘loot’
NEW DELHI: US short seller Hindenburg Research has rejected Adani Group’s charge that its report was an attack on India, saying a “fraud” cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, […]
Adani’s market loss swells to $70 billion as its fight with short-seller escalates
By Chris Thomas and Aditya Kalra NEW DELHI:Adani group shares extended their sharp falls on Monday as the Indian conglomerate’s rebuttal of a U.S. short-seller’s criticism failed to pacify investors, driving stock market losses for the companies to almost $70 billion over three days. Flagship Adani Enterprises (ADEL.NS), which is facing a crucial test this […]
Go First to get Rs 210 crore under government’s credit line guarantee scheme: CEO
NEW DELHI: Wadia group-owned Go First expects to receive Rs 210 crore under the government’s credit line guarantee scheme next month as the budget airline seeks to boost its financial position and expand operations. The airline, which received Rs 210 crore from the promoters last month, aims to have 53 operational aircraft in its fleet […]
Airbus to hire more than 13,000 people globally in 2023
NEW DELHI: To support its commercial aircraft ramp-up, meet challenges in defence, space and helicopters, Airbus intends to recruit more than 13,000 people globally in 2023. Around 7,000 of these will be newly created posts across the company. The new hires will be instrumental in supporting our industrial ramp-up and Airbus’ ambitious decarbonisation roadmap and […]
PE/VC investments decline by a third to $54.2 billion in 2022: Report
NEW DELHI: Investments by private equity and venture capital funds declined by nearly a third to USD 54.2 billion in 2022, which was characterised by a ‘funding winter’ after consecutive years of surge. Even after the decline, the year was the second best for India in terms of bets taken by such long term investors […]