SEBI has said a nexus operated to pump up share prices of two broadcast companies via ‘misleading’ YouTube videos. Shares were then offloaded for profits at expense of investors.
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.
Risk assets rallied on Friday amid speculation that China was set to relax the restrictions, but it reiterated adherence to a “dynamic-clearing” approach to Covid over the weekend.
The reassuring part of recent stock market history is that it's rare for it to stay down for 2 yrs in a row. Though one must remember that past is no guide to future performance.
Market participants are watching Tata Consultancy Services for signals on the demand outlook for the sector, which is staring at the possibility of a recession in the US and Europe.
Adverse effects of inflation and rate hikes are temporary and they fade away as the economic cycle turns whereas the positive effects result in permanent benefits, writes Aniruddha Kalley.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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