india
In a recent update, Hindenburg Research revealed that Kotak Mahindra Bank, a prominent private sector lender and brokerage firm in India, played a crucial role in the offshore fund structure used to short Adani stocks. The US-based research firm questioned the Securities and Exchange Board of India’s (Sebi) omission of Kotak Mahindra Bank’s name in its observations, suggesting possible protection of the influential businessman Uday Kotak. Hindenburg questions Sebi’s omission of Kotak Mahindra BankHindenburg Research’s blog post on July 2 disclosed that Kotak Mahindra Bank, founded by Uday Kota...
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Foxconn has been systematically denying jobs to married women at its India iPhone assembly plant on grounds that increased burden of family responsibilities after marriage and childbirth “increases risk factors” of hiring them, a Reuters investigation has found. The news agency was also informed by hiring agents and Foxconn HR sources that jewellery worn by married Hindu women also interferes with production. More than 35,000 people are employed at Foxconn’s iPhone assembly plant in Sriperumbudur, near the city of Chennai in the southern Indian state of Tamil Nadu. Why the exclusion of married...
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India and China emerged as the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in May. Traders and data from LSEG indicated a significant increase in these exports, reflecting shifts in global trade patterns following the European Union’s embargo on Russian oil products. Surge in Russian fuel oil and VGO exports Russian fuel oil and VGO seaborne exports saw a notable rise of 12% from April, reaching approximately 4 million metric tons in May. This increase was partly due to the completion of seasonal maintenance, which allowed for higher production and export vol...
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India’s worsening water shortage crisis can adversely impact the nation’s credit health while sparking social unrest and exacerbating the volatility in its economic growth, rating agency Moody’s Ratings said in a report on Tuesday. Further, decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers, it said. The report comes at a time many of India’s urban centers are battling acute water shortage...
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The incredible market run of American chipmaker Nvidia, being seen as the face of the artificial intelligence boom has also captured the imagination of Indian investors and market experts. Nvidia became the world’s most valuable company after its share price climbed to an all-time high on Tuesday taking its market capitalisation to $3.34 trillion, making it more valuable than fellow tech giant Microsoft after it had already overtaken Apple earlier this month. However, by Friday, it had slipped back to the third place and by Monday morning, its stock had fallen more than 5% to about $120. Even ...
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Ola Electric, India’s largest two-wheeler electric vehicle maker has received the approval from India securities’ market regulator- Securities Exchange Board of India (Sebi) to go public. The Bhavish Agarwal-led company will raise Rs 5,500 crore through a fresh issue, apart from an offer-for-sale (OFS) component of 95.2 million shares, and is likely to list its shares later this year. The Bengaluru-headquartered startup is reportedly eyeing a $6 billion valuation and will be the first EV startup in the country to list itself on the bourses. According to the draft IPO papers, a part of the proc...
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The Nifty 50 index continued its spectacular rally this week as the political temperatures in India cooled. It soared to a high of ₹23,630 on Friday, higher than the year-to-date low of ₹20,620. It has surged by more than 212% from its lowest point in 2020. Most Indian stocks are soaringMost companies in the Nifty 50 index have jumped sharply this year. Mahindra & Mahindra, a leading automobile company, has surged by over 65% this year, making it the best-performing firm in the index. Adani Ports & CEZ stock has jumped by more than 44% while the Shiram Finance, Hero MotoCorp, Cipla, and Bharti...
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The Adani Group, led by Chairman Gautam Adani, has announced ambitious plans to invest over $100 billion in energy transition projects and manufacturing capabilities essential for green energy generation. This substantial investment is set to position the conglomerate at the forefront of India’s renewable energy sector, aiming to capitalize on the nation’s vast potential in energy transition and digital infrastructure. India’s economic growth and market potentialAdani highlighted the broader economic context, predicting that India will add a trillion dollars to its GDP every 12 to 18 months, s...
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Less than two weeks after India’s general elections results were announced, with prime minister Narendra Modi securing a third consecutive term, the debate over Electronic Voting Machines (EVMs) has resurfaced. This time, Tesla founder Elon Musk finds himself caught in the crossfire between the ruling BJP and the opposition over the issue. The EVM debate in Indian politicsEVMs have long been a point of contention in Indian politics. Opposition leaders frequently argue that EVMs are susceptible to tampering, calling for a return to paper ballots. While the debate intensified in the run-up to th...
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The Indian unit of South Korea’s Hyundai Motor Co. has submitted a request for an initial public offering (IPO) to India’s financial regulatory body, marking a significant milestone for the car manufacturer on Dalal Street, Mumbai’s equivalent of Wall Street. This move comes more than twenty years after Hyundai first entered the Indian market. Details of the IPOAccording to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI) and reviewed by NDTV Profit, Hyundai Motor India Ltd.’s (HMIL) IPO includes an offer of 142 million shares, representing a 17.5% ...
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