The rise in domestic equities follows a rebound in the US and European markets amid news that a large group of banks was infusing cash into lender First Republic Bank.
The plan comes as Spicejet's cash reserves dwindle and new entrant Akasa Air jostles for a share of the market and rival Air India ramps up its revamp plans.
Shares of Adani Green Energy, Adani Total Gas, Adani Power were down 5%, while Adani Transmission rose 3.5%, Adani Enterprises was also up by 9.5% & Adani Wilmar gained 5%.
The rebound comes after the recent selloff in Adani group stocks, which has caused a rout of over $100 billion in market capitalisation after Hindenburg's report on 24 January.
If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.
NEW DELHI (Reuters) -India's Adani group shares sank on Thursday after market turmoil forced the conglomerate to axe a crucial $2.5 billion stock offer, deepening its market losses to more than $100
Adani Enterprises called off its $2.5 billion share sale Wednesday, citing market conditions, amid an ongoing rout in the Adani Group's stocks sparked by Hindenburg's critical report.
The secondary share sale of Adani Enterprises needs at least 90% subscription to go through. It is currently at 85% including the anchor investor portion, Indian stock exchange data showed.
SoftBank had a 17.5% stake in Paytm’s parent One 97 Communications Ltd, as of Sept. 30. The stock is being sold in a range of 555 rupees to 601.45 rupees per share, said the report.
Piyush was about celebration—of life, of people, of stories. He believed that what we create can shape popular culture, can make people feel proud of who they are.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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