NEW DELHI: Authorities in Bangladesh have sought a revision of an agreement with Adani Power Ltd for importing electricity from a thermal power plant in Jharkhand over the “excessive” pricing of coal, according to a Bangladeshi media report. The Bangladesh Power Development Board (BPDB) signed a 25-year power purchase agreementContinue Reading
Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the NSE Nifty dipped almost 6 points in highly volatile trade. The 30-share BSE benchmark Sensex advanced 224.16 points or 0.38 per cent to settle at 59,932.24. During the day, it hit a high ofContinue Reading
Under-fire Indian tycoon Gautam Adani insisted Thursday that the fundamentals of his conglomerate were “strong” even as shares in its companies plunged again after the group cancelled a multi-billion-dollar stock sale. Adani’s empire has lost more than $100 billion following explosive allegations of accounting fraud last week by US short-sellerContinue Reading
Adani Enterprises has decided not to proceed with its fully subscribed Follow-on Public Offer (FPO), the conglomerate said in a statement late on Wednesday, hours after the shares of the firm nosedived 28.45% to close at ₹2,128.70 on the BSE. Billionaire Gautam Adani’s empire has lost more than $100 billionContinue Reading
Indian billionaire Gautam Adani, whose fortunes took a rare hit following a scathing report by US short seller, on Thursday said his flagship firm Adani Enterprises withdrew its $2.5 billion share sale to insulate investors from potential losses. In an address to investors, Adani said the board felt it wouldContinue Reading
The first Union Budget of Amrit Kaal, or the 25 years in the run-up to 2047 when Independent India turns 100, will build a strong foundation for a developed India and fulfil the dreams of an aspirational society including the poor, the middle-class, and farmers, Prime Minister Narendra Modi saidContinue Reading
Adani Enterprises has decided not to proceed with its fully subscribed Follow-on Public Offer (FPO), the conglomerate said in a statement late on Wednesday, hours after the shares of the firm nosedived 28.45% to close at ₹2,128.70 on the BSE. Citing market volatility and “the unprecedented situation”, the company attributedContinue Reading
India’s Adani Enterprises has called off its $2.5 billion share sale due to prevailing market conditions, the company said on Wednesday, days after a rout in its stocks following criticism by a U.S. short-seller. “Given the unprecedented situation and the current market volatility the Company aims to protect the interestContinue Reading
PTI | | Posted by Shobhit Gupta Biotechnology industry veteran Kiran Mazumdar-Shaw on Wednesday called the budget presented by Union Finance Minister Nirmala Sitharaman “inclusive and growth-oriented”. Read here: Why Budget 2023-2024 passes the BJP’s political test She said the budget, focused on seven priorities, lays the groundwork for inclusiveContinue Reading
Union Finance Minister Nirmala Sitharaman announced that the new tax regime will become the default tax regime, while the old will remain an option. Tabling the budget in parliament on Wednesday, Sitharaman also revised the income tax rebate limit under the new tax regime from ₹5 lakh to ₹7 lakh.Continue Reading