RESEARCH REPORT
Inflation is highest in Odisha at 7.22% followed by Bihar and Karnataka: SBI research
India's inflation landscape showed spatial variability in June 2024, with 12 out of 22 states reporting rates exceeding the national average of 5.1%. Odisha had the highest inflation at 7.22%, followed by Bihar at 6.37% and Karnataka at 5.98%. The Index of Industrial Production (IIP) surged to a seven-month high of 5.9% in May, reflecting robust growth in mining, manufacturing, and electricity production.
After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details emerge in the drama
Adani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
Pew Research Center Report: Only 24% voters think Joe Biden is 'mentally sharp'. Donald Trump ahead of Democrat by 4 points
The survey conducted by the Pew Research Center shows that about 24% of the respondents think that Joe Biden is 'mentally sharp'. It also found that Donald Trump is ahead of Joe Biden by 4 points.
Pew Research Center Report: Young voters moving toward Republican Party, most of them under 30. Details here
A study conducted by Pew Research shows that young people are moving toward the Republican Party in big numbers and most of them are under 30. Will Donald Trump be able to keep this momentum till the polls are held on November 5?
Moratorium on foreign research vessels intact: Lankan FM
Ali Sabry denied ending the moratorium on foreign vessels, including Chinese "spy ships", in Sri Lanka's waters and EEZ near India, misquoted in Tokyo. Decisions will be year-end. Emphasizing UNCLOS obligations, equal country opportunities, and capacity-building till 2024, Sabry explained to The Daily Morning, stressing Sri Lanka's non-aligned stance during his Tokyo visit.
Hedge fund’s secret Adani short revealed in blow-by-blow account
A short-seller's report targeting Adani Group led to a $153 bn market value drop. The investigation involved a hedge fund, regulator, and a big Indian bank. US regulators scrutinized hedge fund collaborations and short-selling's impact on market efficiency.
Hedge fund’s secret Adani short revealed in blow-by-blow account
The short-selling scandal involving Hindenburg Research, Adani Group, and Sebi triggered regulatory scrutiny and a US Justice Department probe. The scandal emphasized the importance of market efficiency amidst fraud allegations and regulatory actions.
Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report
According to India Infoline Finance Limited (IIFL) report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.
Steel demand to grow by 9-12 pc in FY25: Ind-Ra report
India Ratings and Research (Ind-Ra) forecasts a 9-12% growth in steel demand for the ongoing 2024-25 fiscal year, driven by end-user industries like automobiles and infrastructure. Global steel demand is expected to remain steady, with China transitioning to low carbon initiatives. Domestic players are predicted to have stable credit metrics.
Indian HNIs swell by 12.2% YoY in 2023, wealth surges 12.4% on booming markets, economy: Report
The number of high net-worth individuals (HNIs) in India increased by 12.2% in 2023, reaching 35.89 lakh individuals. Their financial wealth also rose by 12.4% to $1,445.7 billion, driven by a strong economy and the performance of domestic equity markets.
This city tops list with most number of deadliest car accidents in US: Report
Memphis, a city in the state of Tennessee, has recorded the greatest number of car crashes in the US for the year 2022. In the list of top 10 cities with the most number of car accidents, 3 cities belong to the state of Florida.
InGovern gets defamation notice over its report on Religare
Religare alleged that InGovern, founded by Shriram Subramanian, had published a defamatory report on its website without any verification and without studying information available in the public domain.
Billionaire Gautam Adani’s green targets questioned in Snowcap analysis
The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.
Adani Group wants a slice of India's payments and e-commerce pie: Report
India's Adani Group is seeking a licence to operate on the public digital payments network and is in talks with banks for a co-branded credit card. The conglomerate also plans to offer online shopping via the govt-backed Open Network for Digital Commerce (ONDC), according to the Financial Times.
Adani Enterprises board to meet today to discuss fund raise
Adani Enterprises will discuss potential fundraising options during a board meeting scheduled for May 28. The agenda includes deliberations and approvals for proposals related to raising funds, which may involve issuing equity shares or other eligible securities through permissible modes.
Chatter doesn't matter: Has Adani been able to firewall himself?
Adani Group faced a tumultuous period after allegations by Hindenburg Research, but quickly recovered and regained market value. Recent accusations regarding a coal deal and ethical concerns have failed to impact the group's stocks significantly. Investors seem impervious to negative chatter as the group continues its growth journey.
India Inc raises record debt capital in FY24
India Inc raised more debt capital in FY24 compared to the previous fiscal, with increased interest from both local and overseas investors in Indian companies. According to the Reserve Bank of India's state of the economy report, bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore. Additionally, corporations received higher funds through external commercial borrowings in FY24, with registrations, disbursements, and net inflows substantially higher than FY23 levels.
Wall St Week Ahead-Earnings bolster US stocks but crucial inflation report looms
Still, some investors worry the rally could stall without evidence that inflation is cooling again. While Fed Chairman Jerome Powell has reassured markets the central bank is unlikely to raise rates anytime soon, months of strong inflation have led to concerns that policymakers will not cut them this year.
India’s FY24 toy exports fall, separate strategies for each group key: GTRI
India's toy exports declined to $152.34 million in FY24. GTRI advises strategies like inviting international manufacturers, building a domestic ecosystem, and reducing dependency on imports to boost the industry and compete with China's market dominance.
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