Adani group shares tumble 7 percent after Hindenburg report alleges SEBI chief’s involvement

Shares of Adani Group companies, including Adani Enterprises, Adani Ports, and Adani Green Energy, fell by up to 7% on Monday following the release of a new report by US-based short-seller Hindenburg Research.

Adani Enterprises and Adani Ports, both part of the Nifty 50 index, experienced declines of up to 5% before recovering slightly from their lowest points of the day. Other stocks within the group, such as Adani Energy Solutions, Adani Wilmar, and Adani Total Gas, saw their shares fall between 5% and 7%.

Vital to follow probe process before final orders: CCI

The Competition Commission of India (CCI) has stated that “multiple” cases have been referred to its investigation arm in the past few months, adding that due procedure of law is being followed after receipt of reports from it, before reaching a final verdict.

Monthly urban labour survey from Jan 2025, sample size to reduce

The statistics ministry is likely to start releasing the monthly Periodic Labour Force Survey-Urban (PLFS-Urban), from January 2025, as it aims to increase the frequency of employment-related data collection and dissemination, official sources said. However, this would entail a substantial reduction in sample size, they added.

Boosting India’s naval strength as China’s expands presence: Submarine project nears Govt approval

India is on the brink of advancing its naval capabilities with the anticipated government approval for the construction of an indigenous nuclear-powered submarine, known as the Submersible Ship Nuclear (SSN). This project, expected to be approved later this year, underscores India’s commitment to bolstering its maritime defence, particularly in response to the expanding naval presence of China in the Indian Ocean region.

Tata Nexon diesel DCA available on official website

Tata Motors is expanding its diesel engine drivetrain offerings, as the official website has?listed the Nexon 7-speed dual-clutch (DCA) transmission diesel variant. The Nexon diesel is set to compete with the Hyundai Venue, Kia Sonet, and Mahindra 3X0, while the segment’s frontrunner, the Maruti Suzuki Brezza, remains available only in petrol and CNG versions.

Many firsts in Blackstone REIT India evolution

The evolution of real estate investment trusts (REITs) went parallelly with Blackstone’s REIT journey in the country.

Blackstone is the pioneer in listing REITs in the country along with its partners. While it sponsored Nexus Select Trust REIT, the country’s first retail property REIT, it co-sponsored Embassy Office Parks REIT and invested in Mindspace Business Parks REIT sponsored by Mumbai-based K Raheja Corp.

Indian API companies to grow by 7-8% and operating profit margin to improve to 12-14% in FY2025: ICRA

Rating agency ICRA on Monday highlighted the encouraging growth prospects of the Indian active pharmaceutical ingredients (API) industry. ICRA expects the revenues of its sample set of companies to expand at a CAGR of 7-8% between CY2023 and CY2029 from an estimated size of USD 13-14 billion in CY2023.

Trent, Zomato, BEL may potentially enter Nifty; Nuvama says next Index rejig may see them replace LTIMindtre, Divi’s Labs

In the upcoming index rejig for the NSE benchmark Nifty 50, Trent and Bharat Electronics (BEL) are anticipated to replace LTIMindtree and Divi’s Labs, according to Nuvama Alternative & Quantitative Research.?

The potential changes are contingent on the approval of futures and options (F&O) inclusion for Zomato? and Jio Financial Services (JFS) by the Securities and Exchange Board of India (SEBI) before the announcement by NSE indices in August.

Read more at: FinancialExpress.com

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