India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai: As the dust seems to have settled around Adani Group bonds after the recent US-related developments, global brokerage JP Morgan has said that Adani bond portfolio's liquidity is stable, giving an Overweight (OW) rating on four bonds of the Adani Group firms. In a note, JP Morgan gave OW rating on three bonds of Adani Ports and Special Economic Zone (APSEZ) and one of Adani Electricity Mumbai Ltd (AEML), a subsidiary of Adani Energy Solutions. Adani Group bonds have settled after a period of volatility, widening by about 100-200 basis points, it said. The Group companies liquidity seems stable after accounting for near-term maturities for offshore debt, JP Morgan said, adding that Adani Green Energy Ltd's bond issue will be in focus. "The ability to scale and grow using internal cash flows in the case of Adani Ports gives us strong comfort on the intrinsic equity value of such a business, which in turn reduces the scope for credit stress," the note by the global brokerage read. JPMorgan said the ports-to-power conglomerate's short-tenor bonds saw more spread widening due to higher dollar prices. On average, the group's bond yields have widened by - Adani Ports and Special Economic Zone: 140 basis points, Adani Transmission: 180 basis points, Adani Electricity Mumbai: 140 basis points, and Adani Green RG bonds: 150 to 160 basis points. After these moves, the brokerage house prefers some short-end bonds and 'ADTIN 2026s' (Adani Transmission) in particular, on which they moved to an 'overweight' rating. Within the ADSEZ (Adani Ports & SEZ) curve, which is an 'overweight', JPMorgan prefers 'ADSEZ 32s' versus 'ADSEZ 41s', thereby initiating coverage with overweight on the former and upgrading the latter to 'overweight'. After tabulating near-term maturities for offshore debt at various group companies, JPMorgan took "varying degrees of comfort". "Overall, we take varying degrees of comfort, and believe that key to watch among the bond-issuing entities is mainly Adani Green, which has a decent-size loan ($1.1 billion) due in March 2025," said the global financial services major. The operational risks in Adani Group have reduced over the years, with a fall in share pledges, and improving leverage among others, Bernstein Research said in a recent note.
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said. A regulat ...Read More >
YORK, UK - In a move to strengthen its position in the equine health market, Animalcare Group Plc (AIM: ANCR) has announced the conditional acquisition of Randlab, a prominent Australian equine veterinary business. The deal, valued at A$120 million (approximately £62.2 million), is expected to significantly boost Animalcare's earnings in 2025. The purchase agreement, involving Animalcare's newly formed subsidiary Animalcare Australia Pty Ltd, encompasses Randlab's entire issued share capital, including its New Zealand and Middle Eastern operations. The acquisition is financed through a combin ...Read More >
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
The chip makers around the world felt the relief of a rumor suggesting that the sales curb to China could be less severe than previously expected. But the news didn't necessarily translate in a strong rally. ASML (NASDAQ:ASML) - Europe's biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year - closed 0.22% lower yesterday, while Tokyo Electron - which was up by more than 6% yesterday - couldn't extend gains at today's session. With US markets paused for the Thanksgiving break, France was at the heart of the attention yesterday. The political drama, there, only ...Read More >
SHANGHAI, Dec. 02, 2024 (GLOBE NEWSWIRE) -- MultiMetaVerse Holdings Limited (NASDAQ: MMV) (MMV or the Company), a leading animation and entertainment company for young consumers in China, today announced that it has signed a definitive share exchange agreement (the Share Exchange Agreement) with the shareholders (the Transferors) of Bowong AI Limited (Bowong Cayman), which, after a series of restructuring transactions, is expected to indirectly hold 100% equity interests in Bowong Technology (Shenzhen) Co., Ltd. (Bowong Technology). Bowong Technology is a company equipped with cutting-edge tec ...Read More >
Responding to Pattali Makkal Katchi (PMK) floor leader G.K. Mani, who raised the issue in the House, Mr. Stalin said, "Adani did not meet me nor did I meet him." Tamil Nadu Chief Minister M.K. Stalin on Tuesday (December 10, 2024) told the State Assembly that he had not met Adani Group chairman Gautam Adani, dismissing rumours about the conglomerate's alleged links to the State. Responding to Pattali Makkal Katchi (PMK) floor leader G.K. Mani, who raised the issue in the House, Mr. Stalin said, ...Read More >
Brookfield India Real Estate Trust's Rs 2,800- crore QIP has drawn interest from institutional investors such as India's biggest insurer Life Insurance Corporation of India (LIC), World Bank arm IFC and mutual funds such as ICICI Prudential MF and SBI MF, sources told Moneycontrol. The Canadian investment firm Brookfield-backed firm's QIP, with a base issue size of Rs 2,800 crore, saw a 2x demand from investors, the sources said. "This is the first time LIC and IFC have invested in a REIT in In ...Read More >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
Exagen Inc. (NASDAQ:XGN) CEO John Aballi Signals Confidence with Stock Purchase Amid Strong Q3 Performance John Aballi, CEO of Exagen Inc., recently purchased 24,305 shares at $2.81 each, raising his ownership to 689,799 shares. This move follows the company's strong Q3 results, with $12.5M in revenue and an 8% year-to-date growth driven by a 45% surge in selling prices. Exagen unveiled advanced biomarkers for lupus and rheumatoid arthritis, enhancing its AVISE CTD test platform. With $22M in cash and a projected $55-$56M full-year revenue, Exagen aims for profitability by 2025. Boasting a ...Read More >
Mumbai, November 26: The final allotment for the NTPC Green Energy IPO has been confirmed, and investors can now check their status through bank debit messages or online platforms such as the BSE, NSE, and Kfin Technologies. The shares of NTPC Green Energy, which opened for subscription on November 19 and closed on November 22, are set to be listed on the stock exchanges on Wednesday, November 27, 2024. The public offering received strong investor interest, with the issue oversubscribed by 2.42 times, according to the National Stock Exchange (NSE). Analysts maintain a positive long-term outlo ...Read More >
New Delhi, Dec 4 (PTI) The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minist ...Read More >
NewsVoir Pune (Maharashtra) [India], December 6: Bajaj Finserv AMC has launched its latest offering, the Bajaj Finserv Healthcare Fund, which is available for subscription from 6th to 20th December 2024. This new fund is designed to capture the immense opportunities emerging in India's healthcare space, allowing investors to tap into the evolving megatrends while building wealth over the long term. The health and wealth connection As India's population grows and ages, the demand for healthcare services, products, and innovation is expected to soar. In fact, the healthcare sector is set to b ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate amidst ongoing U.S. corruption investigations. Adani Green Energy Ltd. clarified that this pause will not affect its operations, as no new funding was under discussion. The Adani group denies all allegations as baseless. French energy giant TotalEnergies has paused new investments in Gautam Adani's conglomerate due to an ongoing U.S. investigation into alleged corruption charges against Adani and two executives. Adani Green Energy Ltd stated that this decision would not impact its operations since no ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. Also Read | What Is 'Tankhah', Religious Punishment Given to Sukhbir Singh Badal by Akal Takht in 2015 Sacrilege Case?. However, shares of Adani Green Energy went low ...Read More >
Mumbai: Share of the top 50 stocks in the total market capitalisation has hit an all-time low, according to a report on Thursday. The December edition of the DSP Netra report said, "Large-cap stocks are now at their smallest share of total market capitalisation. The share of the top 50 or top 10 stocks relative to the total market has hit an all-time low, presenting a rare opportunity for investors." "While large caps remain relatively attractive on a comparative basis, the current market environment underscores the need for caution amidst volatility. This backdrop makes a conservative appro ...Read More >
Mumbai, November 29: The Indian stock market opened in green on Friday as buying was seen in the Media and Pharma sector in early trade. At around 09.44 a.m., the Sensex was trading at 79,369.57 after gaining 325.83 points or 0.41 per cent, while the Nifty was trading at 24,019 after rising 104.85 points or 0.44 per cent. The market trend remained positive. On the National Stock Exchange (NSE), 1345 stocks were trading in the green, while 876 stocks were in the red. Nifty Bank was up 224.45 points or 0.43 per cent at 52,131.30. Nifty Midcap 100 index was trading at 56,397.95 after gaining 97. ...Read More >
NEW DELHI: Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to ...Read More >
Markets opened on a cautiously optimistic note on Wednesday, with the Sensex and Nifty showing marginal gains, while investors closely monitored global economic indicators and upcoming domestic policy decisions. The Sensex opened higher at 81,036.22 from its previous close of 80,845.75 and is currently trading at 81,168.92 as of 9.45 am, up by 323.17 points or 0.40 per cent. Similarly, the Nifty opened at 24,488.75 compared to its previous close of 24,457.15 and is now at 24,558.20, rising by 101 ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
INDIA bloc MPs, donning black jackets with slogans like "Modi Adani Ek Hai", protested at Parliament demanding a joint probe into the Adani issue. Priyanka Gandhi Vadra accused PM Modi of evading discussion on the "Adani mega scam" while defending Adani's alleged corruption. Rahul Gandhi asserted that Modi won't investigate Adani as it would be like investigating himself.Congress leader Priyanka Gandhi Vadra Thursday said the country's people want the "Adani mega scam" to be discussed in Parliame ...Read More >
STL Digital, an IT Services and Consulting Company (a wholly-owned subsidiary of Sterlite Technologies), announced the successful deployment of RISE with SAP S/4HANA Cloud for eight Vedanta companies (Hindustan Zinc, Sterlite Copper, Cairn Oil & Gas, Sesa Goa Iron Ore, Vedanta Aluminium, Vedanta Zinc International, ESL Steel, Vedanta Corporate), globally. Vedanta, a globally diversified natural resources, energy, and technology conglomerate, prioritizes operational excellence, timely execution o ...Read More >
New Delhi: India's opposition MPs on Wednesday, December 11, greeted their BJP counterparts in Parliament premises with the tricolour in one hand and a red rose in the other, urging the ruling party to ensure that the Parliament functions properly. This is the latest in a series of demonstrations led by Congress over the issue regarding industry mogul Gautam Adani getting indicted by the US. Leader of Opposition in the Lok Sabha Rahul Gandhi also offered the tricolour in the form of a card to Defence Minister Rajnath Singh when the latter was entering the main Parliament building. Congress ...Read More >
Mumbai, Dec 12 (VOICE) Share of the top 50 stocks in the total market capitalisation has hit an all-time low, according to a report on Thursday. The December edition of the DSP Netra report said, "Large-cap stocks are now at their smallest share of total market capitalisation. The share of the top 50 or top 10 stocks relative to the total market has hit an all-time low, presenting a rare opportunity for investors." "While large caps remain relatively attractive on a comparative basis, the current market environment underscores the need for caution amidst volatility. This backdrop makes a con ...Read More >
Mumbai, Dec 18 (PTI) Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows. Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said. The 30-share BSE benchmark tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. As many as 2,563 stocks de ...Read More >
Bhubaneswar: The state govt on Tuesday received investment intent worth Rs 4.5 lakh crore on the first day of Utkarsh Odisha-Make in Odisha Conclave 2025, and given the massive response the event has generated, chief minister Mohan Charan Majhi feels they could see proposals worth four times than the target of Rs 5 lakh crore that had been set in the run-up to the business summit. "The investment proposals are likely to take a big leap as the investors are highly encouraged by the PM's assurances," Majhi said on a day his govt received over 100 investment intents and signed 54 MoUs in various ...Read More >
William B. Roberts, a director at Consumer Portfolio Services, Inc. (NASDAQ:CPSS), recently sold a substantial amount of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Roberts offloaded a total of 30,000 shares over several days, with transactions occurring on November 14, 15, and 18. The shares were sold at prices ranging from $10.37 to $10.49, generating proceeds of approximately $313,000. Following these sales, Roberts retains ownership of 770,078 shares of the company. Each sale was executed at a weighted average price, with the shares being sold ...Read More >
From user-friendly interfaces to competitive profit margins, several platforms have emerged as favorites among traders in 2024. As binary options trading continues to gain traction in India, many investors are eager to identify the platforms that deliver the best results. With a growing number of options available, traders need to understand the features and benefits of each platform to find one that suits their needs. From user-friendly interfaces to competitive profit margins, several platforms have emerged as favorites among traders in 2024. Are you ready to discover which platforms are wi ...Read More >
New Delhi, Dec 3 (PTI) Shares of seven Adani Group firms ended in the green on Tuesday, with Adani Ports surging 6 per cent, emerging as the biggest gainer among the Sensex and Nifty firms. The stock of Adani Ports surged 6.02 per cent, Ambuja Cements soared 5.15 per cent, ACC (2.56 per cent), Adani Enterprises (2.33 per cent), Sanghi Industries (2.09 per cent), Adani Wilmar (1.19 per cent) and NDTV (0.45 per cent) on the BSE. However, shares of Adani Green Energy went lower by 1.17 per cent, Adani Power dipped 0.87 per cent, Adani Total Gas (0.83 per cent) and Adani Energy Solutions (0.60 p ...Read More >