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As Inauguration Day nears, investors are trying to unravel what booms or busts lay ahead under President-elect Donald Trump.

Adam Smith wrote in The Wealth of Nations that managers of joint stock companies can't be expected to watch over a company with the same anxious vigilance that owners watch over their own company. The wisdom remains relevant in modern day business. Owners with the money, but who lack expertise or time to run the business, hire professional managers. The anxious vigilance of owners referred by Smith is to ensure that the business generates enough economic value for them-to put it simply, to see it's earning a return on capital that exceeds costs. Professional managers hired by owners are primarily the capital or asset allocators in the business. If capital allocation within the business is inefficient, then enough economic value won't be generated. As rudimentary as it may sound, it's surprising how awareness of high cost attached to equity capital is often missing in many suave, confident and crafty professional managers in corporate India.

Adani Green Energy following the US indictment for alleged bribery to win contracts. According to highly-placed state government sources, Andhra Pradesh is considering writing to Solar Energy Corporation of India (SECI) to cancel the power purchase agreement (PPA) signed with Adani Green Energy and recommend a probe by a central investigative agency. Other options being considered include formation of a Cabinet sub-committee to examine the charges of bribery and keep the power supply agreement (PSA) signed with SECI in abeyance. The third option is to completely scrap the PSA. Sources said that the state government is veering towards the option of writing to the SECI and ask it to scrap the PPA. The PPA under scrutiny involves the Andhra Pradesh government's procurement of 7,000 megawatts (MW) of solar power through SECI. US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed state government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the Union Territory of J&K, between 2021 and 2022.

The parents reiterated that they were very disappointed with the behaviour of police and administration on the day of their daughter's death but have faith in CBI. Adhikari announced a demonstration programme in front of Raj Bhawan on December 10 demanding justice for the RG Kar victim. «The BJP MLAs will sit for dharna and we will demand justice. We all support the family and will not allow the matter to die down unless our sister gets justice,» Adhikari said.

Indian stock market ended lower on Tuesday, breaking its two-day winning streak, weighed down by selling pressure in auto and pharma stocks. The benchmark S&P BSE Sensex shed 105.79 points or 0.13% to settle at 80,004.06, while the broader Nifty 50 index lost 27.40 points or 0.11% to close at 24,194.5 points.

Zee Entertainment and its subsidiary Margo Networks have lost their claims in the arbitration against Navratna PSU RailTel Corporation of India. An arbitration tribunal — formed over the dispute over the termination of the contract for content-on-demand (COD) by the PSU — rejected the claim of Margo Networks. «This is to inform you that the Arbitral Tribunal vide its Arbitral Award has rejected the said claims filed by the Company and Margo against Railtel,» according to a regulatory filing from Zee Entertainment. Zee Entertainment Enterprises Ltd (ZEEL) and its subsidiary had initiated arbitration proceedings, opposing «wrongful termination of the Content on Demand Agreement» by Railtel, and claimed the amounts wrongfully forfeited by the public sector undertaking.

Sebi on Tuesday modified its interim order prohibiting Axis Capital Ltd from engaging in any transactions in the debt segment that involve providing credit risk cover, guarantees and indemnities for the purchase of pledged shares until further notice. Sebi, in its interim order in September, prohibited Axis Capital from undertaking new assignments as a merchant banker, arranger, or underwriter for debt securities until further notice. The matter pertains to Axis Capital Limited (ACL) allegedly violating Merchant Bankers (MB) Regulations in connection with non-convertible debentures (NCDs) issued by Sojo Infotel Pvt. Ltd.

Morgan Stanley bought over 6.7 lakh shares in Niyogin Fintech at a total cost of Rs 3.74 crore via a block deal on Tuesday. The stock was purchased at a price of Rs 55.65 apiece, up 2.8% against the Monday closing price of Rs 54.14 on the BSE. The seller in the deal was Think India Opportunities Master Fund LP which sold as many shares. The fund held 87,24,344 shares in the company as on September 30, 2024 which represented 9.17% stake.

Competition Commission of India (CCI) on Tuesday approved the investment of Singaporean sovereign fund Temasek in Rebel Foods, the parent company of Faasos and Behrouz Biryani. The deal will be a mix of both primary and secondary share sales, with a nearly flat valuation compared to its previous round nearly three years ago. The secondary sale will be at a lower valuation of around $700 million. US-based Coatue and homegrown fund Lightbox may also partially divest their stakes in this round.

NCRTC has launched real-time train tracking and live parking status features on its RRTS Connect application, a statement said on Tuesday. The commuters of the Namo Bharat trains can now benefit from these features which will make their travel experience smoother and more efficient, it said. The live train tracking feature offers commuters up-to-the-minute updates on train arrivals, showing the exact status and location of the Namo Bharat trains. This feature also provides information on the next station along with the distance and estimated arrival time, it said.

The Gurugram-based used cars sales platform recorded a 25% on-year growth in its operating revenue at Rs 6,917 crore. The increase in the company's operating revenue was mainly driven by a rise in unit sales as well as growing average selling prices, it said. With this, Cars24 is back on the growth path after reporting a mere 8% year-on-year (YoY) rise in revenue in FY23. The company's net loss, however, expanded to Rs 498 crore in FY24 from Rs 468 crore a year ago.

Revenue rose by 11 per cent to Rs 5,894 crore in the quarter from Rs 5,297 crore in the same period a year ago.

PSU stocks and D-Street experts see this momentum to continue in the run-up to next year's Union Budget. While valuations still remain a concern for many, the road ahead is likely to be stock specific, they say, arguing that the recent correction is offering pockets of opportunities to make entry in the state-run company stocks. An analysis of the 59-stock BSE PSU index reveals 39 stocks that have witnessed a decline since June 4, the day when the general election results were announced. In this, 30 have fallen in double digits. The worst losers are Bharat Dynamics, Cochin Shipyard, Ircon International, Mangalore Refinery And Petrochemicals (MRPL), falling between 39% and 20% as on November 22 (a day before the announcement of Maharashtra assembly election results).

«A substantial amount of deposits have shifted to higher interest rate bucket during the latest monetary policy tightening cycle; term deposits bearing over 7 per cent interest rate has increased to 68.8 per cent from 54.7 per cent a year ago,» it said. As per the BSR, bank deposits growth (y-o-y) at 11.7 per cent in September 2024 remained close to that in the previous quarter.

Subscribe to enjoy similar stories. Bengaluru: The dazzlingly bright fine jewellery store had all kinds of glitzy items on display, but there were only four customers checking them out when Mint visited it on a Wednesday evening earlier this month. The manager candidly told us that the store, located in a commercial area not far from IT hub Whitefield, never saw the kind of wedding jewellery-hunting crowds common at long-established names such as C.

«If PM Modi would have read this book then what he does daily, he would not do it,» Gandhi said, displaying a copy of the Constitution of India. Gandhi said the country's whole system is pitted against Dalits, Adivasis and backward class people.

Angel One Mutual Fund, paving the way for its entry into the asset management space. The company will focus exclusively on passive investment solutions, according to a filing with the exchanges on Tuesday. The announcement was made during market hours, and shares of Angel One hit the day's high of Rs 2,929 on the NSE, rising nearly 5%.

Sharechat on Tuesday said its adjusted EBITDA losses fell by 67 per cent year-on-year to Rs 793 crore in FY24, amid 33 per cent growth in revenue. The company further said it is on track for a cash breakeven by March 2025. With improved financial metrics, the company expects to start investing back into growth and is on «active» lookout for inorganic opportunities through acquisitions. Organic growth will happen through the expansion of the user base and increasing revenue per user. Sharechat has social media brands such as Sharechat app and Moj under its portfolio. While the company is sufficiently capitalised for now, it is looking at «adding more people to cap table ahead of preparations for IPO journey». It is eyeing timelines of 18-24 months for a possible IPO, depending on market conditions.

PAN 2.0 initiative on 25 November. The government has allocated Rs 1,435 crore for this project, aimed at overhauling the current PAN/TAN system to improve efficiency and taxpayer convenience. At the time of the announcement, Union Minister Ashwini Vaishnaw said that the upgrade of PAN includes adding a QR code. This will be rolled out free of cost to all taxpayers. Non-Resident Indians (NRIs) who are required to file a return of income or intend to enter into an economic or financial transaction where quoting of PAN is mandatory must have this identity proof.