BHUBANESWAR: In a recent court filing, the US Securities and Exchange Commission alleged that Adani Green’s internal documents show huge kickbacks were made or committed to Odisha govt officials to influence decisions regarding a power supply agreement.The SEC complaint read, “According to Adani Green’s records, a payment equal to hundreds of thousands of dollars was…
NEW DELHI: The Securities & Exchange Commission (SEC) complaint in a New York court has said that Solar Energy Corporation of India had hoped to sign the power purchase agreement within 90 days of issuing letters of award to Adani Green and Azure Power in June 2020, but the high tariffs quoted by the companies…
BENGALURU: Finance minister Nirmala Sitharaman said India should position itself as a nation practising responsible capitalism. “We need to understand that capitalism also has its limitations. It is important to brand India as a responsible capitalist country, one that knows how to take care of its people, with many of its institutions doing their job,”…
NTPC Green Energy, the renewable energy arm of state-owned NTPC, garnered bids worth Rs 15,406 billion rupees ($1.8 billion) on Friday for its $1.2-billion IPO, as investors bet on the country’s growing clean energy needs. Ready to Master Stock Valuation? ET’s Workshop is just around the corner! Source link
Mumbai: Zomato, the app-based food delivery major that was listed in July 2021, will replace JSW Steel in the sensex on Dec 23, a BSE notice said. Currently, Zomato, with a market cap of Rs 2.3 lakh crore, is the 37th most valued company in India. Ready to Master Stock Valuation? ET’s Workshop is just…
MUMBAI: Flipkart co-founder Binny Bansal has stepped down from the board of PhonePe, the fintech which the e-commerce firm had acquired in 2016 under Bansal’s watch and has now separated from Flipkart. In Jan this year, Bansal had also exited the board of Flipkart. Source link
HONG KONG: US private equity firm Advent International has signed a deal to sell Indian packaging company Manjushree Technopack to PAG for an enterprise value of close to $1 billion, two sources with direct knowledge said on Friday. Advent, which invested in the company in 2018, was planning to take Manjushree Technopack public but opted…
MUMBAI: The rupee closed higher on Friday at 84.44, gaining six paise from Thursday’s close of 84.50, though it closed marginally lower for the week. A rebound in the equity markets offered some support, but the currency faced pressure from global factors including the strengthening of the dollar and geopolitical tensions.Reuters reported that RBI had…
MUMBAI: GQG Partners, a major foreign investor in the Adani group companies, has initiated defensive measures to safeguard its share price following the fallout from a US investigation into the Ahmedabad-based conglomerate. The Sydney-listed fund initiated a $65 million share buyback programme, citing the potential presented by the significant drop in its stock value. Assembly…
MUMBAI: Foreign exchange reserves fell by nearly $18 billion in the week ending Nov 15-the sharpest fall on record-as global investors continued pulling out funds from Indian stock markets.According to RBI data, forex reserves declined by $17.8 billion to $657.9 billion during that week. The decline was largely due to a $15.5 billion drop in…
