Waves Financial News

Investors in Adani stocks, who were used to making astonishing returns by betting on Gautam Adani's business acumen, were in for a rude shock in 2023 when the combined market capitalisation of the conglomerate fell by around Rs 6 lakh crore because of the Hindenburg controversy. At the end of 2022, the total market value of all 10 listed Adani companies was Rs 19.6 lakh crore which has now fallen down to Rs 13.6 lakh crore. While many Adani stocks have managed to recoup a part of their Hindenburg-led losses, Adani Total Gas remains 74% down on a year-to-date (YTD) basis. The stock, which had gone close enough to nearly touch the Rs 4,000-mark is now struggling to inch above the Rs 1,000 mark. Shares of Adani Energy Solutions are also down 61% YTD.

Residential sales in the first nine months of 2023 reached 196,227 units, which is 91% of the total sales in 2022. Interestingly, residential sales broke all records with average quarterly sales of over 65,000 units till the third quarter of 2023.

government’s policies to promote domestic manufacturing and create an ecosystem for indigenous defence procurement as well as green energy have helped energise shares of public sector undertakings (PSUs). A rush to own PSU stocks that have reported earnings growth above the benchmark index growth has resulted in their rerating. The share of government-owned companies in India’s total market capitalisation rose to nearly 10% in November from a low of 5% in 2020.

Bitcoin, the leading cryptocurrency, has recently witnessed a minor dip, yet impressively holds above the $43,500 mark, signaling a strong market sentiment. The crypto sphere is abuzz, speculating on how high Bitcoin might soar in 2024.

Pacific Northwest experienced a record-breaking heat wave that sent the normally temperate region into Death Valley-like extremes that took a heavy toll on trees as well as people. Seattle and Portland, Ore., recorded their hottest-ever temperatures, reaching 108 degrees Fahrenheit (42.2 Celsius) and 116 Fahrenheit (46.6 Celsius), respectively. In British Columbia, the small town of Lytton reached 121 degrees Fahrenheit (49.6 Celsius). What become known as the “heat dome” is estimated to have killed hundreds of people in Oregon, Washington and British Columbia. As this human tragedy unfolded, a lesser-known ecological tragedy was happening, one that scientists warn has grim repercussions for the world’s plants and the many animal species that depend on them. In a matter of a few days, the 2021 heat dome turned many of the green leaves and needles on the region’s trees to orange, red and brown. But, as recent research suggests, tree foliage didn’t simply dry out in the heat.

A notification to this effect issued by Manipur schools education director, L Nandakumar Singh on Thursday said: “There will be holiday for all schools in Manipur from 23rd December 2023 till the 30th December, 2023 in view of the cold weather and upcoming festival and New Year.” Mercury dipped in the Imphal valley on Thursday to 7 degree Celsius as people put on thick garments, stayed indoor and light up Meiphu (traditional charcoal heater) at home to beat the biting chill weather. Indian Meteorological Department forecasts that temperature could dip further over the next few days in the state, projecting the coldest day with zero degree Celsius during the period on December 26, a day after Christmas. The cold wave enveloping Imphal valley in the last few days followed incessant rains for the three-four days in the state.

According to forecasters, the northern regions are expected to experience 80mph winds while rainy conditions are anticipated throughout the festive period. In contrast, London residents might have a milder Christmas, with forecasted highs of 12C.

As DEX-launched tokens continue to mount seismic rallies, CHEEBS and AVAXINU have mounted the latest 150x rallies overnight, and now traders are gravitating to this latest meme coin as the next potential skyrocket.

₹50,000 crore more fund under SWAMIH to complete stalled housing projects across the country, saying this will benefit consumers as well as the industry. The National Real Estate Development Council (NAREDCO) has suggested the finance ministry to come up with a second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund with ₹50,000 corpus in the upcoming Union budget for 2024-2025 fiscal year. In 2019, the Centre had created SWAMIH fund to complete stalled projects.

Aquaman 2 advance booking: Aquaman and the Lost Kingdom will be released worldwide on December 22. So, excitement is at an all-time high. Aquaman 2 promises to be an even bigger and bolder adventure than its predecessor.

Mint takes a look at the crisis and India’s stakes in it. Originating from northern Yemen, the Houthis have been embroiled in a decade-long civil war, gaining significant territorial control, including Sanaa, the capital. The Houthis are considered close to Iran and have maintained a hardline stance against Israel and the US.

India Meteorological Department (IMD) in an official release predicted a forecast for isolated light rainfall or snowfall in Jammu and Kashmir, Gilgit-Baltistan, Muzaffarabad, and Himachal Pradesh from the 22nd to the 24th of December. Additionally, on December 23rd, isolated light rainfall or snowfall is likely in North Punjab, North Haryana, and Uttarakhand. The Kashmir Valley is experiencing frigid temperatures, with the minimum temperature remaining several degrees below freezing, as it prepares for the onset of 'Chilla-i-Kalan,' the 40 days of the harshest winter, PTI reported citing officials on Wednesday.

By Maximilian Heath

Awinter bloom of mauve wildflowers is not there in my childhood memories. On one of those very paths, she strode ahead, leading me. The dog pranced around, with the full river on the right and the dazzling brush on the left bordering the dense tree-line.

leadership of Indian-origin CEOs who, through their strategic decisions and impactful manoeuvres, made headlines and left a lasting mark on the corporate landscape. The achievements and decisions of these Indian-origin CEOs in 2023 reflected a blend of adaptability and a commitment to fostering innovation in their respective organisations. Let's take a closer look at five notable leaders who have grabbed headlines for their leadership in the corporate arena.

Iced drinks topped with cold foam and added energy shots and fruit flavors have hooked high-school students, social-media influencers and now, some of the world’s biggest fast-food chains. McDonald’s this month launched CosMc’s, a new takeout-oriented restaurant concept heavy on customizable drinks like Churro Frappés and Pomegranate Hibiscus Slush. Taco Bell in December started testing blended iced coffee with flavors like Mexican Chocolate, along with shakes topped with cold foam and churro crumbles.

Chinese scientists claim they received an ominous signal hours before Monday night's 6.2 magnitude earthquake but were not sure where exactly it would strike, it emerged on Wednesday. So far 131 people are confirmed dead and over 700 others injured in Gansu and Qinghai after the quake, the deadliest in nine years, hit the two provinces. While predicting earthquakes has almost appeared to be a mission impossible, researchers in the Chinese province of Shaanxi claim to have developed a groundbreaking technique that has allowed them to forecast successfully every tremor with a magnitude of 7.0 or more that struck around the globe in the past 10 years.

RBI research paper. Inflation in India is more influenced by supply side factors and occasionally by demand, said the report published in RBI's latest monthly bulletin.

Bodhana Sivanandan from Harrow has emerged as the best female player at The European Blitz Chess Championship held in Zagreb, Croatia over the weekend. The young prodigy surpassed seasoned grandmasters, securing her position as a rising star in the world of chess. Facing formidable opponents, Sivanandan's remarkable performance included a decisive victory over international master and England women's coach Lorin D'Costa, who is more than three decades her senior. This achievement led her to claim the coveted first prize for women at the event.

₹100 crore worldwide. Based on the biopic of India's first field marshal, Sam Manekshaw, the film has been slowly but steadily making waves at the global box office. According to Sacnilk, the film has minted ₹76.6 crore in India and ₹105 crore globally.

Hegic, a crypto derivatives trading platform, may have just exposed itself to an insider trading probe from the U.S. government following a profitable but sketchy trade with an affiliate company.