Here are top news of the week between 26 November to 2 December that stood out as truly newsworthy:
Adani Group’s m-cap posts biggest rise since Hindenburg report
The Adani Group of stocks showed its biggest increase in market capitalization of more than a trillion rupees interestingly since the Hindenburg report surfaced, days after the Supreme Court reserved its judgment on a lot of public interest litigations pleading for a court-monitored investigation into allegations of corporate malfeasance and manipulation against the ports to renewables conglomerate.
Workers exit Silkyara burrow following 17 days, CM announces review of new routes
41 workers were rescued from a collapsed section of the Silkyara-Barkot burrow on Tuesday evening after some 400 hours in obscurity.
Charlie Munger passes away: 7 things that Buffett said about the pro investor
Charlie Munger, who assisted Warren Buffett with building Berkshire Hathaway, died at a California hospital on Tuesday. He was 99.
Tata Motors total sales in November drops 1.7% YoY to 74,172 units
Tata Motors on Friday revealed a 1.7% drop in total sales in the domestic and international market for November 2023 at 74,172 vehicles, contrasted with 75,478 units during November 2022.
Climate change: COP28 okays $475 mn loss and harm fund
On the opening day of the United Nations System Convention on Climate Change, or COP28, the UAE has greenlit a crucial decision, making the loss and harm fund for developing nations operational.
Subterranean insect Group’s Alipay to exit Zomato in $395 mn block bargain
Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore.
Go First tells Delhi HC it has exhausted CoC funds
Go First on Thursday informed the Delhi High Court that it had exhausted the funds provided by the Committee of Creditors and was dealing with a shortage of labor and financial constraints. The airline had received interim financing of Rs100 crore from the CoC for service maintenance costs.
Siemens AG set to acquire 18% stake in Siemens
Siemens declared that Siemens AG, based in Germany, will purchase a 18 percent stake in the organization from Siemens Energy Holding BV at a rate of ₹2952.86 per share, on December 1.
Prosus cuts valuation of Byju’s by half to sub-$3 bn
Dutch investor Prosus Ventures on Wednesday chopped out the valuation of Byju’s by the greater part to beneath $3 billion, in one more setback for the edtech giant battling lenders, lawsuits and investigations.
FIIs get back into the game! Turn net buyers in last 6 sessions with net inflow of ₹13,474 crore
Foreign institutional investors (FIIs) have gotten back in the game in Indian markets over the country’s strong macroeconomic fundamentals and the resilience shown by the economy and domestic markets. Foreign investors have arisen as net buyers of Indian equities for the six straight sessions.
UltraTech to acquire Kesoram’s concrete business
UltraTech Concrete Ltd, the flagship organization of Aditya Birla group, has acquired the concrete business of Kesoram Industries in a share-swap bargain, according to a filing with the exchanges on Thursday. UltraTech will give one share for each 52 shares of Kesoram, implying an offer price of ₹173.15 per share, a 34% premium to Kesoram’s last close.
Tata Coffee board approves ₹450 crore investment in Vietnam-based facility
Tata Coffee’s top managerial staff, on Thursday, supported the capacity expansion of its Vietnam-based subsidiary firm at an investment of ₹450 crore.
As a component of the expansion plan, the barricade endorsed the setting of an additional 5,500 ton freeze-dried coffee facility in Vietnam, according to Tata Coffee’s BSE filing.
Sony-Zee consolidation in turmoil over leadership dispute, claims report
Sony Pictures Networks India (Sony) and Zee Entertainment Enterprises (ZEEL) are facing hurdles in finalizing their proposed consolidation because of a halt over leadership arrangements for the blended entity, according to a report in the Financial Express.
Asia’s 2023 Heroes of Philanthropy: KP Singh, Nandan Nilekani, Nikhil Kamath
Forbes has released its 17th yearly list of philanthropists who donated generously and showed commitment to causes of their choice over the course of the last year. The unranked list showcases names from the Asia-Pacific region.
Deepak Chemtex IPO: Issue subscribed in excess of 403 times on the last day
Deepak Chemtex IPO is likely to see SME listing on the bourses with tentative listing date expected on as Monday, December,11 2023.
Bitcoin surges 2.87% to its highest level this year
Bitcoin rallied to its highest price in 2023 as the cryptocurrency bounced 2.87% to a high of $38,834 on Friday. The surge in Bitcoin’s value marks its top since May 2022 just before the disruption of the TerraUSD stablecoin ecosystem, causing a ripple impact in the sector and initiating a progressive decrease in asset values.
Mid-and small-cap indexes shine in November 2023 derivative expiry, says Nuvama
Mid-and small-cap realms were the genuine heroes of the November 2023 derivative expiry series, according to business Nuvama Institutional Equities.
Flair Writing share price makes stellar introduction, stock lists with 65% premium at ₹501 on NSE
Flair Writing share price made a stellar introduction on the bourses today. On NSE, Flair Writing share price today was listed at ₹501 per share, 64.8% higher than the issue price of ₹304, and on the BSE, Flair Writing shares were listed at ₹503 apiece.
LPG price hike: Govt increases commercial cylinder rates
Oil Marketing Companies (OMCs) increased the prices of commercial LPG cylinders by ₹21 per cylinder in various locations all through the country. The hike will become effective from today i.e. 1 December.
Tata Tech soars 163%, registers highest listing gain in two years
Investors chasing listing-day gains raked in huge profits on Tata Technologies Ltd, which appeared on the Street with the best gains in two years for an offer above ₹500 crore. The stock gained 162.85% from its issue price of ₹500 to close at ₹1,314.25 on Thursday.
Market cap of BSE-listed firms hit $4 trillion imprint out of the blue
The market valuation of BSE-listed companies crossed a record $4 trillion interestingly on November 29, on the rear of positive market sentiment in Indian equities.
I-T dept conducts survey at Hinduja Group entity
The survey operation is being embraced as a component of a tax avoidance investigation and offices in Mumbai and some different cities are being covered.
Sunil Mittal’s Bharti Telecom targets its biggest-ever rupee bond issuance in India with $961 million plan
Bharti Telecom Ltd., claimed by Sunil Bharti Mittal, is planning to raise as much as 80 billion rupees ($961 million) in the nearby cash security market, according to individuals familiar with the matter.
