India Financial News

Competition Commission of India (CCI) Chairperson Ravneet Kaur on Friday hinted that the fair trade regulator is not likely to take cognizance of media reports on the bribery charge against the Adani group to initiate a probe, claiming that the panel takes steps only after some information is filed before it. Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Adani group on Thursday denied the charges of paying bribes to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws. On whether the Adani matter falls under the purview of CCI, Kaur said, «The CCI is governed by the Competition Act… It is meant to promote and sustain competition. If there is any matter which falls in that domain of the Competition Act, then it comes to Competition Commission.»

Coastal Defence Exercise Sea Vigil 2024 successfully concluded on November 21. The exercise was conducted in two phases, with Phase I extending from November 13 to 19 and Phase II conducted over a 36-hour period across all coastal states and union territories of India. The exercise demonstrated India's unwavering commitment to strengthening its maritime security and coastal defence mechanisms, spanning the entirety of India's 11,098 km coastline and its Exclusive Economic Zone of 2.4 million square kilometres, according to an official release. Sea Vigil 24 witnessed the participation of over 21 agencies across six ministries. These included the Indian Navy, Indian Army, Indian Air Force, Indian Coast Guard, State Marine Police, Customs, BSF, CISF, Port Authorities, and Fisheries Department, among others.

The Canadian foreign ministry last month alleged Amit Shah, considered the number two in Modi's government, was behind a campaign of intimidation in Canada. Ottawa says it has evidence linking Indian government agents to the 2023 murder of Sikh separatist Hardeep Singh Nijjar in Canada. This week, the Globe and Mail newspaper said Canadian security agencies believed Modi knew about the violent plots and said Foreign Minister Subrahmanyam Jaishankar and national security adviser Ajit Doval were also in the loop.

MoU with Bengaluru-based Ajit Isaac Foundation (AIF) to provide assistance in setting up and launching palliative care centres in India. These centres aim to provide “compassionate, dignified care to terminally ill patients in underserved regions in India, along with training and supporting community-based caregivers,” the parties said in a statement. AIF will establish a 63-bed Palliative Care Centre in Tumkur–neighbouring Bengaluru by early next year. This Centre will serve as the foundation for the JHU-AIF collaboration, which aims to design and implement comprehensive training programmes in palliative care, offered both online and offline, with mentorship support for staff. “JHU will help in developing a research fellowship and designing curriculum. Additionally, AIF and JHU will jointly host workshops and conferences, both in India and internationally, to showcase the latest advancements in palliative care, fostering knowledge exchange and the adoption of best practices,” AIF said in a statement.

Zomato has delisted several ‘fraudulent’ restaurants after users on social media pointed out single-dish restaurants on the platform, it said in a post on X. “We have identified all such restaurants that were potentially fraudulent and have delisted them from our platform,” the Gurugram-based company said. The company said that it has also strengthened its fraud checks to identify such cases and prevent similar incidents from happening.

Indian tycoon Gautam Adani, one of Asia’s richest men, may be facing his biggest challenge yet with an indictment by U.S. prosecutors for alleged fraud and bribery

markets regulator is proposing more diversified ownership of equity clearing corporations, which are currently fully owned by the country's exchanges. A clearing corporation is responsible for the confirmation, settlement and delivery of trades.

Manulife Financial Corp.’s chief executive Roy Gori, who surprised some investors with an earlier-than-expected retirement announcement this week, says he never wanted to stay in the job so long that people started wondering why he just wouldn’t leave.

Bharti Airtel to “positive” from stable, as it expects the Sunil Mittal-led telco’s earnings and cash flows to rise over the next 24 months, gaining from the industry-wide headline rate hikes of July. The positive outlook, it added, reflects the possibility of an improvement in Airtel’s stand-alone credit profile (SACP) owing to its healthy earnings and easing leverage. In an official statement Friday, the global ratings agency, though, said Airtel’s upgrade could “remain contingent” on a similar action on the sovereign rating on India.

Janhvi Kapoor. In an exciting development, Netflix has officially added the Hindi version of Devara to its streaming catalogue. This update comes as a treat for North Indian audiences who have been eagerly anticipating its release. The film is already available for streaming on Netflix in various international languages, including English, Korean, Spanish, and Brazilian Portuguese, as well as South Indian languages like Telugu, Tamil, Kannada, and Malayalam.

Zomato will replace JSW Steel in the BSE Sensex as part of the index reconstitution which becomes effective from December 23. On Friday, BSE's wholly-owned subsidiary Asia Index Private Ltd announced reconstitution of several indices which also included BSE 100, BSE Sensex 50 and BSE Sensex Next 50.

Siddaramaiah on Friday said the Centre was not taking action to have Adani Group chairman Gautam Adani arrested though an arrest warrant had been issued against him, joining AICC leader Rahul Gandhi in attacking the billionaire industrialist. The CM’s attack followed the US Justice Department charging the billionaire with colluding in a corruption scheme to win solar energy contracts in India. In Andhra Pradesh, chief minister N Chandrababu Naidu struck a cautious note when he informed the assembly that the government would study the charges that were in public domain and act on them. In Karnataka, Siddaramaiah, in a chat with the media in Mysuru, said the Centre must take steps to have Adani arrested, and the high-profile businessman must not be allowed to escape. “The entire country knows who is protecting Adani,” he said, while blaming the media for not highlighting it.

fraud indictments, the group is yet to respond to the bourses. While there was no word from Sebi officials, experts pointed out the regulator will have to definitely look into it if there are any disclosure and other violations and take necessary action.

The report, which showed 43% of the brokers' willingness to increase tech budgets by 20%, was from the StockTech Survey 2024-25 by Association of National Exchanges Members of India Western Region (ANMI WIRC).

Subscribe to enjoy similar stories. Indian billionaire Gautam Adani and some associates are facing serious allegations of fraud brought by the US attorney’s office in New York. According to prosecutors, the Adani group orchestrated a yearslong scheme involving the payment of $250 million in bribes to Indian government officials to secure favourable terms for solar power contracts awarded to Adani Green Energy Ltd and Azure Power Global Ltd, a New Delhi-based firm that was previously listed on the New York Stock Exchange.

Subscribe to enjoy similar stories. Indian textile exports are showing signs of recovery in FY25, with demand from European markets playing a crucial role in boosting figures, according to data from the ministry of commerce and industry. Exports to Europe during the April-October period reached $5.66 billion, marking a 6.39% increase compared to $5.32 billion in the same period of FY24.

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Vijay Deverakonda, Bollywood actress Radhikka Madan, and singer Jasleen Royal came together for a very special lunch. It was hosted at the singer’s home and the delightful spread consisted of a few staple foods from the hearty Punjabi cuisine, which was lovingly prepared by her parents. The highlight of the video was that the South star got a crash course in Punjabi cuisine as he tried out various dishes. The Curly Tales dropped a video where Vijay Deverakonda had a fun-filled lunch with three Punjabi women- Bollywood actress Radhikka Madan, singer Jasleen Royal and YouTuber, Kamiya Jani. The gathering at Jasleen Royal’s home featured a sumptuous Punjabi feast, including chhole, mutton, sarson da saag, makki di roti, and more, all thoughtfully prepared by her parents. Vijay Deverakonda, keen to explore North Indian cuisine, received a playful lesson in pairing Punjabi dishes. The trio enjoyed a lively afternoon filled with laughter, fun games, and lighthearted moments.

1 individuals living with diabetes. Adding to this overdose of sweetness the wedding season is here. It often overlaps with the festive period, and further tempts us with rich foods and sugary delights. It is no secret that weddings in India are a grand celebration that includes multiple days of feasting, making it even harder to resist indulgent foods. Maintaining healthy eating habits gets all the more difficult as festivals and weddings overlap and the food comes in abundance.

NTPC Green Energy Ltd has signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 lakh crore, Andhra Pradesh Chief Minister N Chandrababu Naidu said. NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore Initial Public Offering (IPO) with a price band of Rs 102-108 per share. NGEL has signed a joint venture with NREDCAP (New & Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh, Naidu said in a post on X on Thursday. The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, the chief minister added.

AAP MP Sanjay Singh on Friday accused Prime Minister Narendra Modi of favouring Gautam Adand alleged that he was responsible for major losses in the stock market. «The entire nation is in turmoil today. Nearly Rs 5.5 lakh crore of people's wealth has been wiped out in the stock market because of the fraud committed by Prime Minister Modi's friend, Adani,» Singh said. He recalled the Hindenburg report incident, stating that a similar crash had occurred then, but the Prime Minister remained silent. «Modi, who comments on minor thefts like a buffalo or mangalsutra being stolen, is quiet when lakhs of crores of public money disappear,» he added.