Top Stories | Maharashtra CM saga unfolds, Nifty hits 3-week high, Pakistan's crackdown, and more
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Maharashtra's political situation took a new turn today after Chief Minister Eknath Shinde announced that he will abide by the decision of the BJP's top leadership on the selection of the next leader. He will remain as the caretaker CM until a decision is made likely tomorrow after a meeting of the Mahayuti leaders with Home Minister Amit Shah. In the markets, the Nifty 50 rose to a three-week high, with HDFC Bank and Adani Group stocks leading the gains. Adani Green Energy saw a sharp rise after clarifying that its leaders, including Gautam Adani, were not charged with FCPA violations. Meanwhile, NTPC Green Energy listed with a subdued debut but surged by up to 14% during the day, closing 8.74% higher. On the international front, Israel and Hezbollah reached a 60-day ceasefire agreement, offering a crucial step towards ending the conflict in Lebanon. In Islamabad, Pakistani authorities inflicted a massive crackdown on protestors demanding the release of former Prime Minister Imran Khan. Lastly, the US economy grew at a robust 2.8% pace in Q3, while Australia moved forward with a ground-breaking bill to ban children under 16 from social media.
Israel, Hezbollah reach ceasefire agreement for Lebanon
Israel reached a deal for a 60-day cease-fire with the Lebanese militant group Hezbollah after weeks of talks mediated by the US, a first step toward ending a conflict that’s killed thousands of people.
President Joe Biden, who spoke after talking with the leaders of Israel and Lebanon, said at the White House Tuesday that all sides had agreed to a cease-fire that would “end the devastating conflict between Israel and Hezbollah.” More broadly, Biden said the US “remains prepared to conclude a set of historic deals with Saudi Arabia to include a security pact and economic assurance” for the region.
Nifty 50 hits 3-week high led by HDFC Bank and Adani Group stocks
The headline index Nifty 50 rose to a three-week high on Wednesday, driven by strong gains in HDFC Bank and Adani Group stocks, and the Sensex also rallied as continued buying by foreign investors into high-weightage stocks lifted sentiment.
The Sensex surged 230 points to 80,234, while the Nifty gained 80 points, settling at 24,275.
On the sectoral front, the Nifty Bank Index added 110 points to reach 52,302. HDFC bank surged 1.3%, leading gains on the sub-index. The Midcap Index climbed 358 points, closing at 56,272.
Adani Green, other group stocks jump up to 10% after clarification on FCPA violations
Shares of Adani Green Energy, along with other Adani Group stocks surged up to 10% on Wednesday, November 21, after the company clarified on the DoJ charges on chairman Gautam Adani, Sagar Adani and Adani Green MD & CEO Vneet Jaain.
Adani Green, in an exchange filing said that Gautam Adani, Sagar adani and Vneet Jain have not been charged with any violation of the FCPA in the counts set forth in the indictment of the US Department of Justice or the civil complaint of the US Securities and Exchange Commission (SEC).
Parliament Winter Session LIVE | Lok Sabha & Rajya Sabha resume proceedings?
The second day of the Winter Session of Parliament saw disruptions, mirroring the chaos of Day 1. Opposition INDIA alliance MPs demanded a debate on Gautam Adani's indictment in the US for alleged bribery charges.
Congress leader Rahul Gandhi intensified the attack, calling for Adani's arrest and imprisonment, as protests stalled proceedings.
Eknath Shinde on CM race: Will accept BJP’s decision
Eknath Shinde on Tuesday dropped a hint that he may no longer continue as the Maharashtra CM and he will support the decision of the BJP on the top post.
He has submitted his resignation to Governor CP Radhakrishnan at Raj Bhavan.
Shinde will now work as the caretaker Chief Minister of Maharashtra till the new leader for the post is sworn in. The term of the current government ended on November 26. Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar accompanied Shinde during the resignation.
NTPC Green IPO Listing Highlights: Stock ends 9% higher on listing day, PSU eyes capacity expansion over 3 years
NTPC Green IPO Listing Highlights: Shares of NTPC Green Energy Ltd. surged as much as 14% during the trading session of November 27, after it made a modest stock market debut. The stock closed 8.74% higher? This public offer ranks as the third largest of 2024, following Hyundai Motor India's ?27,870 crore issue and Swiggy's ?11,300 crore offering.
In the grey market, the company's shares were trading at a premium of ?1, which suggested a premium of 0.93% over the issue price.
Masayoshi Son rallies Indian founders around AI-driven future
SoftBank CEO Masayoshi Son spotlighted the transformative power of artificial intelligence (AI) during a high-profile meeting with portfolio company founders in New Delhi on November 27, sources told CNBC-TV18. Addressing a room of India’s leading entrepreneurs, Son stressed that future success would depend on harnessing AI's potential.
Ola founder Bhavish Aggarwal was quick to express his enthusiasm after the session. “Always amazing to meet Masayoshi Son. Such an energizing discussion on AI, AGI, Energy, and India. We will make the future here in India together,” Aggarwal posted on X (formerly Twitter).
One founder at the lunch described the meeting as “forward-looking and positive, with a strong emphasis on long-term goals and building for India.”
Protesters rounded up In Pakistan overnight crackdown
Pakistani forces launched a midnight crackdown against former Prime Minister Imran Khan's supporters, who were marching in Islamabad and demanding his release. Meanwhile, the former PM has called on his protesters to 'fight till the end'
US economy grows at 2.8% pace in Q3 on consumer spending, unchanged from first estimate
The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday (November 27), leaving unchanged its initial estimate of third-quarter growth.
The Commerce Department reported that growth in US gross domestic product — the economy’s output of goods and services — slowed from the April-July rate of 3%. But the GDP report still showed that the American economy — the world’s largest — is proving surprisingly durable. Growth has topped 2% for eight of the last nine quarters.
Australia's House of Representatives passes bill that would ban young children from social media
Australia’s House of Representatives on Wednesday passed a bill that would ban children younger than 16 years old from social media, leaving it to the Senate to finalize the world-first law.
The major parties backed the bill that would make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent young children from holding accounts.
The legislation passed with 102 votes in favor to 13 against. If the bill becomes law this week, the platforms would have one year to work out how to implement the age restrictions before the penalties are enforced.
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