The crisis was triggered by a Hindenburg Research report last week in which the U.S.-based short-seller accused the Adani Group of stock manipulation and unsustainable debt. Adani Group, one of India's top conglomerates, has rejected the criticism and denied wrongdoing in detailed rebuttals, but that has failed to arrest the unabated fall in its shares.
Unrealistic targets? 6 reasons why Sitharaman's Budget may be too optimistic
Second, state governments have been lagging considerably on capex. Third, the revival in private capex remains elusive and given the risks to future demand situations and falling profitability, Indian companies may still be in a wait-and-watch mode.
Budget 2023: As government's capex comes in, pvt sector capex will start with lag of a quarter: Baba Kalyani
“The way we see in India Inc, we are already doing capex. It is just that we are doing capex with our own money rather than going to the banks and borrowing like it used to happen in the old days. I do not think any one of us has stopped capex.”
Gautam Adani no longer Asia's richest person as stock rout deepens to $74 billion
Wednesday's stock losses saw Gautam Adani slip to 10th on Forbes rich list with an estimated $84.1 billion, just below rival Mukesh Ambani, the chairman of Reliance Industries Ltd who has an estimated $84.4 billion. Before the Hindenburg report, Adani had ranked 3rd.
Budget 2023: Airtel, Reliance Jio in focus as govt to set up 100 labs for 5G use cases
Jio has launched its 5G services using the stand-alone (SA) 5G architecture which has no dependency on 4G network using a mix of 5G spectrum across 700 MHz, 3500 MHz, 26 GHz bands. It uses carrier aggregation to combine these 5G frequencies into a single robust “data highway”.
Banking, industrials gave standout earning numbers in this quarter: Digant Haria
I think banking and industrials or the capital goods space, really stand out in terms of numbers, right from, something like a South Indian Bank, which nobody talks about to something like an ICICI or HDFC everything gave good results.
Asian and emerging market peers have started with gains and could aid investor sentiments. However, demand from importers and the Reserve Bank of India's presence could cap gains," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
The business tycoon has lost nearly $27 billion of his net worth so far this year. Adanis wealth fell by $6 billion on Wednesday and another $20.8 billion on Friday to $92.7 billion, showed the Bloomberg Billionaires Index.
Will bulls make a comeback post Budget after last week's carnage? Anand James decodes history
"Fridays turn of events presents an opportunity in the near-term though. Firstly, we have slipped over 1400 points from the record peak and are at a 3 Standard Deviation (SD) boundary, which suggests that an end to downtrend is nearing. Secondly Nifty PCR (put call ratio) is at 0.67 after Fridays carnage, and incidentally, the last time we had negative close and sub 1 PCR ahead of Budget, we saw a 4% gain in the 3 days post budget."
Too early to call for bottom as market to go below June lows; save cash: Jai Bala
“The trend is firmly down and the nearest important level for me is 17,428 on the Nifty spot. So, if the market sprints to 17,428 not even a close just a print, it will confirm and extinguish all remaining hopes for the bulls that the market is headed for below the June 2022 low.”
Bleeding red! 5 reasons why 9 out of 10 F&O traders lose money
Keeping the loss-making retail trader's hope alive are self-styled gurus on social media, who are often ridiculed as 'furus' or fake gurus. Some such heroes claim to be making lakhs every day and are even willing to offer their secret recipe to newbies in paid coaching classes.
India's EV dawn fans expectations fuel demand may peak early
The faster-than-anticipated EV industry growth means India's gasoline consumption will peak sooner than previously thought, some analysts and industry participants say, forcing top oil firms to expedite transition plans to alternative business lines, notably increased petrochemical manufacturing.
Dalal Street ahead of Wall Street in market infrastructure, safety: Nithin Kamath
“You might be wondering, why isn't instant settlement like payments possible. This is because most trading volumes on the exchange are from intraday traders who buy and sell stocks without taking delivery or have the stocks to deliver immediately," said billionaire Kamath.