Bloodbath On D-street After Carnage In Adani Group Stocks

Indian equities hit their three-month low on Friday as pressure on Adani Group stocks intensified post the Hindenburg Research Report. The selloff triggered on Friday wiped off investor wealth by Rs 6.8 lakh crore, with the total market capitalisation of BSE-listed stocks dropping to Rs 269.7 lakh crore. The Nifty 50 index ended 1.61 per cent lower at 17,604.35, while the S&P BSE Sensex fell 1.45 per cent to 59,330.90. “Following the release of a study report by Hindenburg Research on Adani Group, the Indian equities markets are under intense…

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Gautam Adani Slips To 7th Spot On World’s Richest List Amid Rout In Group Stocks

According to Forbes World’s Real Time Billionaires List, Adani’s wealth fell by USD 22.6 billion on Friday, taking him to the 7th spot on the list Gautam Adani, India’s richest person, saw his wealth fell below USD 100 billion-mark, amid a rout in the Adani Group stocks post Hindenburg’s report. According to Forbes World’s Real Time Billionaires List, Adani’s wealth fell by USD 22.6 billion on Friday, taking him to the 7th spot on the list. Hindenburg on Wednesday had alleged group companies to be involved in stock manipulation, money…

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$6.6 billion-worth fintech Wise accused by rival of harming competition

The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images Wise has been accused by a rival fintech company of undermining competition in the money transfer market. Atlantic Money, a smaller foreign exchange service, made this allegation in a letter to the U.K. competition watchdog, the Competition and Markets Authority. Shares of Wise, which debuted on the London Stock Exchange in 2021, were worth £5.14 apiece at 10:30 a.m. London time, 2% below the Thursday market close. Wise has a market capitalization…

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Gadgets Not Smarter Than You, Use Wisely: PM Modi Encourages Students For Self Belief

Prime Minister Narendra Modi on Friday encouraged the students to believe in their strengths and use electronic gadgets wisely and smartly. “People in India spend an average of six hours on screen. This is a matter of concern. Why be a slave of gadgets when God has given us an independent existence and individuality with immense potential?” PM Modi said during the sixth edition of the ‘Pariksha Pe Charcha’ programme in the national capital. He further said that the average six-hour screen time for gadget users in our country is…

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Police Arrangement Completely Collapsed: Rahul Gandhi On Cancelling Bharat Jodo Yatra In J-K

Congress MP Rahul Gandhi, who is on Bharat Jodo Yatra in Kashmir, had to “cancel” his yatra on Friday due to an alleged security lapse at Quazigund. “This morning during the Bharat Jodo Yatra, unfortunately, the police arrangement completely collapsed and the police who were supposed to manage the crowd was nowhere to be seen. My security people were very uncomfortable with me walking further on the yatra so I had to cancel my walk. Other yatris did the walk,” Rahul Gandhi said addressing a press conference in Jammu and…

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Big Blow To Adani Stocks, 7 Stocks Fall Up To 23% Post Hindenburg Report

Three companies saw a fall of 20 per cent, two witnessed a fall of around 18 per cent and 15 per cent, while two were at 5 per cent The stocks of Adani Group companies continued to lose their ground even on Friday following the impact of the Hindenburg report. Seven of the group’s companies saw their stocks falling up to 23 per cent and it is expected that the loss is about Rs 2.83 lakh crore in M-Cap.  Five of Adani group company stock plunged big on Friday. These…

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G4 Highlights Urgency For Reformation In UN Security Council

G4 or a Group of four countries, India, Brazil, Japan, and Germany, pointed out that there is an urgency of reformation in the United Nations Security Council (UNSC) and also said that the Intergovernmental Negotiations (IGN) framework needs structural formation. Addressing the inaugural IGN meeting of the 77th UN General Assembly (UNGA) session on behalf of G4, Germany’s Permanent Representative to the UN, Ambassador Antje Leendertse, stated, “I would like to point out that the urgency of Security Council reform was once again clearly acknowledged by most of our leaders…

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Centre Cutting Its Share In Funding Education: Bihar FM Vijay Choudhary

Stating that the Centre has “expertise in renaming” schemes, Bihar Finance Minister Vijay Kumar Choudhary alleged that the Union government has reduced its share in funding education from 90 per cent to 60 per cent. “The central government has expertise in renaming schemes. Earlier in the education department, the centre used to contribute 90 per cent, then 75 per cent, and now it has been slashed to 60 per cent. Not only that, the Centre announced to rename Sarva Shiksha Abhiyan to Samagra Shiksha Abhiyan, an integrated scheme for school…

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Morbi Bridge Tragedy: Chargesheet Filed, Oreva MD Jaysukh Patel Named As Accused

A 1,262-page chargesheet was filed on Friday in the 2022 Morbi suspension bridge collapse case, that claimed the lives of 134 people. Jaysukh Patel of Oreva group is included as an accused in the charge sheet. Earlier on January 24, a Gujarat court had issued a warrant for the arrest of Jaysukh Patel of the Oreva Group in relation to the October 30 bridge collapse in Morbi in which 134 people were killed. Ajanta Manufacturing Limited (Oreva Group) had secured the contract to renovate, repair and operate the British-era bridge…

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