BUSINESS
S&P revises outlook on Adani Ports, other group firms to negative; flags funding, cash flow risks after bribery charges
S&P's rating outlook revisions come in the wake of US prosecutors indicting Gautam Adani and two other board representatives for their alleged involvement in a $250 million bribery scheme related to solar power contracts in India.
BUSINESS
Adani stocks extend fall today after steep losses amid US bribery allegations against Gautam Adani
Adani Group’s listed firms suffered a combined market capitalisation loss of Rs 2.2 lakh crore, marking one of the steepest single-day declines in the group’s history, after US federal prosecutors filed charges of bribery against founder Gautam Adani.
BUSINESS
US bribery charges: Gautam Adani Group stocks, banks, other shares hit in widespread fallout
The US bribery allegations against Gautam Adani have triggered sharp declines across equities, bonds, and related securities, weighing on the market sentiment and once again raising governance concerns.
BUSINESS
Bernstein not worried about market impact from Gautam Adani bribery charges, calls reaction short-term
Markets are likely to move past the Adani group bribery charges news within a day or a week, said Bernstein India head of research, adding that the development is unlikely to have lasting consequences for the broader market.
BUSINESS
Adani stocks crash about 25% after Gautam Adani charged in US in $250 mln bribery case for Indian solar contracts
US prosecutors' and US SEC allegations have hit Adani group’s international securities too, with Adani’s dollar-denominated bonds falling sharply. Notes issued by Adani Green Energy in March fell 15 cents -- a record.
BUSINESS
GQG Partners stock falls 25% after US bribery charges against Gautam Adani; firm says will review holdings
GQG stock fell 10% to AUD 2.38 on the Australian Securities Exchange after the Attorney's Office for the Eastern District of New York and the US SEC alleged that Gautam Adani participated in a $250 million bribery scheme to secure solar energy contracts in India.
BUSINESS
UPL eyes debt reduction, sells 8.93% stake in Advanta for Rs 2,100 cr, announces Rs 3,378-cr rights issue
UPL's Advanta stake sale, coupled with an equity rights issue worth Rs 3,378 crore, positions the agrochemicals firm to raise a total of approximately Rs 5,500 crore. These funds may support the company’s expansion plans and deleveraging efforts.
BUSINESS
FIIs boost bets in stock futures, but unwinding in Nifty, Bank Nifty shows caution ahead of Maharashtra election
Today’s session showed foreign investors were cautious ahead of Maharashtra state election and Nifty F&O expiry. Also, geopolitical escalations between Ukraine and Russia could amplify market volatility and weigh on sentiment.
BUSINESS
PPFAS ‘not playing T20’; holding cash to save wickets in test cricket, waiting for loose ball to hit boundary
Rajiv Thakkar of PPFAS said that holding cash is not about timing the market or predicting outcomes of major events. Instead, it is about waiting for the right valuation pitch to make investments.
BUSINESS
CLSA raises India allocation to 20% overweight on potential foreign inflows, cuts China in U-turn
CLSA has reversed earlier allocation, increasing India and cutting China, even as India faces sustained foreign investor outflows. It said several global investors have been waiting for a correction to re-enter the Indian markets.
BUSINESS
Nifty extends losses, Sensex down 2,800 points in 6 days as investors brace for deeper correction
Analysts warn the correction in Indian equities could deepen as domestic and global headwinds persist. Nifty has plunged more than 10 percent from its September high, entering correction territory.
BUSINESS
Farewell: Bank Nifty's popular weekly expiry contract bids adieu amid Sebi's new F&O rules
The end of Bank Nifty weekly contract, among Sebi's changes to F&O rules, are expected to impact trading volumes and could alter trading behaviour, with experts forecasting both immediate and long-term shifts.
BUSINESS
FIIs bearish in derivatives as DIIs hold steady; volatility rises, Nifty outlook guarded ahead of US elections
FIIs have offloaded a substantial volume of index futures while simultaneously increasing positions in put options, indicating caution regarding market stability. Meanwhile, DIIs have sustained their buying momentum in the cash market.
BUSINESS
Risks to Indian equities: Q2 earnings moderation raises growth concerns amid stretched valuations
The Diwali cheer may provide a short-term boost to the market, but experts warn investors to tread carefully as several risks could weigh on Indian equities. High valuations limit market upside, while many experts are concerned about weak earnings growth too.
BUSINESS
Adani Group's Renew Exim buys 46.64% stake in ITD Cementation, announces Rs 2,553 crore open offer
Adani Group has finally formally emerged as the successful buyer of the promoters' stake in ITD Cementation India Ltd. Along with the open offer, the acquisition could be worth well above Rs 5,750 crore.
BUSINESS
HDFC Bank to sell up to Rs 10,000-crore shares in HDB Financial IPO; total public issue size at Rs 12,500 crore
HDB Financial Services is preparing for its public market debut, expected by the end of the current financial year. The listing is expected to unlock additional value for its parent company HDFC Bank.
BUSINESS
Kotak Mahindra Bank says ‘actively working’ on RBI directive about credit cards, digital customer acquisition
Kotak Mahindra Bank said that 30-40% of total slippages in Q2 FY25 came from the credit card portfolio, which is being closely monitored.
BUSINESS
Kotak Mahindra Bank’s NIM shrinks in Q2, as lender says secured loan book grew, IPO funds added pressure
The proportion of Kotak Mahindra Bank's unsecured loans -- personal loans and unsecured loans, which typically carry higher yields, declined during the quarter, while the secured loan book grew significantly.
BUSINESS
Kotak Mahindra Bank improves asset quality in Q2; gross NPA falls, capital adequacy remains strong
Kotak Mahindra Bank’s credit cost during the second quarter increased to 0.65 percent, up from 0.42 percent a year ago. On the other hand, the bank's capital adequacy remains robust.
BUSINESS
Kotak Mahindra Bank Q2 results: Net profit rises 5% to Rs 3,344 crore, misses market estimates
Kotak Mahindra Bank's Q2 FY25 net profit missed Street expectations, but net interest income surpassed estimates. The bank said its Gross Non Performing Assets also shrunk year-on-year.
BUSINESS
Hyundai IPO last day today: Will India's largest public issue hit Rs 1 lakh crore bids? Check subscription update
Hyundai Motor India IPO enters its third and final day of subscription today. India's largest public issue has been subscribed 42 percent as of day 2. Here's how much public bidding it needs to reach Rs 1 lakh crore in total bids.
BUSINESS
HDFC AMC stock surges 6%, market cap tops Rs 1 lakh crore after Q2 results show robust topline, improved yields
HDFC AMC's strong Q2 results drove the stock up 6% and market cap above Rs 1 lakh crore, despite a one-time tax hit on net profit. This pushed up other AMCs too, with Aditya Birla Sun Life, UTI AMC, Nippon Life India jumping as much as 11-12%.
BUSINESS
Quant Mutual Fund takes about half of Adani Enterprises' Rs 4,200 crore QIP; Small Cap Fund picks biggest stake
Adani Enterprises raised Rs 4,200 crore from institutional investors via a QIP. Quant Mutual Fund emerged as the largest investor, pouring in over Rs 1,973 crore into buying Adani Enterprises stock across its various schemes.
BUSINESS
Reliance Industries Q2 FY25 Earnings Preview: Steady telecom and retail growth offsets O2C weakness
Investors will likely focus on Reliance Jio’s ARPU growth and growth in the retail segment in Q2 FY25 earnings report.
