Shakti Pumps 5:1 bonus issue ex-date on Monday. Do you own?
Shakti Pumps shareholders have until today to buy stock and qualify for a 5:1 bonus share issue. The company set November 25th as the record date, meaning anyone holding shares on that day will receive five new shares for each one they own. This marks the company’s second bonus share issuance, following a 1:1 ratio […]
Rupee slides to all-time low due to outflows from local stocks
The rupee closed at its all-time low of 84.4925 per US dollar, down nearly 0.1% on Thursday. On an intraday basis, the local currency touched a record low of 84.495/$1, LSEG data showed.
Asian stocks, Bitcoin up after Wall Street climbs
Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.
Goldman Sachs sets Nifty target at 27,000 in 2025
Goldman’s 12-month target of 27,000 on the Nifty implies an upside of 15.6% over Thursday’s closing price of 23,349.90. The index fell 168.60 points or 0.7%. Goldman said the risk of derating in Indian equities remains even after the recent drop as valuations are still high. The estimated price to earnings ratio for MSCI India […]
DoJ claims Adanis gave inaccurate info to investors, false declarations to exchanges
On March 17, 2024, the conglomerate’s corporate finance head had sent correspondence to a financial institution, with Sagar Adani in copy, stating that media coverage of the investigation by US prosecutors was “baseless,” “malicious” and “defamatory,” according to the indictment papers.
Bitcoin climbs closer to $100,000
Bitcoin has more than doubled in value this year and is up about 40% in the two weeks since Trump was voted in as the next US president and a slew of pro-crypto lawmakers were elected to Congress.
GQG loses Rs 8,170 cr on Adani shares; also skids 20% on Australian bourse
Shares of GQG Partners plunged 20% on the ASX (Australian Securities Exchange) on Thursday, eroding nearly ₹8,100 crore (approx. US $950 million) or 16% of its market value.
Adani bonds fall, Vedanta’s issue may also face delay
Adani Green Energy’s March-issued bond offering 6.7% dropped as much as 15 cents, trading at 78/79 cents on the dollar in the early trades. This saw some recovery and closed at 82/83 cents from 94 cents Wednesday.
Heat’s now on for PSU banks with Adani Group exposure
Indian lenders account for more than ₹88,000 crore of the Adani Group’s total debt of ₹2.41 lakh crore as of March 31, 2024, according to a group presentation. Following the Hindenburg report in January 2023, several Indian banks and financial institutions had disclosed their exposure to the Adani Group.
Adani stocks take Rs 2.24 lakh crore hit
Ten out of the 11 Adani stocks fell 6% to 24% in Thursday’s trading. Shares of the flagship company Adani Enterprises declined the most at 23.44%, and Adani Energy Solutions and Adani Wilmar plunged 20% and 10%, respectively.