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☆ India's market cap can 'easily' jump ten-fold in the next two decades, economist says
▼ + stars: | 2024-04-09 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion. India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, analysts said. After overtaking Hong Kong in December, the country's market is now ranked the fourth largest in the world, valued at over $4.6 trillion. "India's GDP growth has led to companies increasing their earnings and that is resulting in the stock market performance," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. The country's financial year starts on April 1 and ends on March 31.

Persons: Sujan Hajra, Anand Rathi, Manish Chokhani, Atul Singh Organizations: Hong, Enam Holdings, BSE, LGT Wealth, India's Ministry, Statistics Locations: India, Hong Kong

☆ An Indian science graduate was promised a job in Dubai but was tricked into fighting for Russia, reports say
▼ + stars: | 2024-03-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

One person said his brother had been promised a job in Dubai but ended up on the front lines in Ukraine. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSome Indian nationals are being tricked into fighting for the Russian army after having been promised jobs in Dubai, Le Monde reported. About 20 Indians are thought to have fallen victim to similar schemes and are now caught on the front lines in Russia.

Persons: —, Le Monde, Aazad Yousuf Kumar, Baba Vlogs, Faisal Khan, Kumar's, Sajad Ahmad Kumar, Le Organizations: Russian, Service, Telegraph, United Arab Emirates, Indian Embassy, India's Ministry, External Affairs Locations: Dubai, Ukraine, Le, Russia, India, Russian, Rostov, Donetsk, Moscow, New Delhi

☆ India agrees to withdraw soldiers from Maldives - President Muizzu
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

Mohamed Muizzu, the newly elected president of Maldives speaks during his inauguration ceremony in Male, Maldives November 17, 2023. REUTERS/Nishan Ali/File Photo Acquire Licensing RightsNEW DELHI, Dec 3 (Reuters) - India's government has agreed to withdraw its soldiers from the Maldives, the Indian Ocean archipelago's President Mohamed Muizzu said on Sunday. "In the discussions we had, the Indian government has agreed to remove Indian soldiers," Muizzu told reporters. India provides certain military equipment to the Maldives, assists in disaster response and has been helping build a naval dockyard there. Most of the Indian military personnel were in the Maldives to operate and manage two helicopters and a Dornier aircraft given to the Maldives by India.

Persons: Mohamed Muizzu, Nishan Ali, Muizzu, India's, Kiren, Mohamed Junayd, Krishn Kaushik, Aditya Kalra, Bernadette Baum, Sharon Singleton Organizations: REUTERS, DELHI, Indian, Dornier, Thomson Locations: Maldives, Male, India, New Delhi, China

☆ An Indian government official directed a plot to assassinate a Sikh US citizen on American soil, feds say — and more attempts were planned
▼ + stars: | 2023-11-29 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

AdvertisementA member of the Indian government directed a foiled plot to assassinate a US citizen on American soil, according to a newly unsealed federal indictment. Students give final touches to paintings of US President Joe Biden, Indian Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni at an art school in Mumbai on September 5, 2023, ahead of the two-day G20 summit in New Delhi. President Joe Biden personally raised the issue with Indian Prime Minister Narendra Modi at the G20 summit in September, according to the Financial Times. In September, Canadian Prime Minister Justin Trudeau accused India's government of being involved in the attack. Prime Minister Narendra Modi of India welcomes US President Joe Biden for the 2023 G20 Leaders' Summit in New Delhi.

Persons: —, Nikhil Gupta, Gurpatwant Singh, Gupta, Pannum, Joe Biden, Narendra Modi, Giorgia Meloni, PUNIT PARANJPE, Getty Images Biden, William Burns, National Intelligence Avril Haines, Hardeep Singh Nijjar, Pannum's, Justin Trudeau, India's, Hardeep Singh, Trudeau, Dan Kitwood, Affairs didn't, GUPTA, Punnam Organizations: Justice Department, Service, Indian, Washington Post, Department, Prosecutors, Italian, Getty Images, Financial Times, CIA, National Intelligence, Justice, Financial, Canadian, of, India, White, India's Ministry, Affairs, Getty Locations: Canada, India, Manhattan, Punjab, New Delhi, New York City, California, Czech Republic, Mumbai, AFP, United States, China, Surrey, of India

☆ Collapsed Indian tunnel had no safety exit, was built through geological fault - panel member
▼ + stars: | 2023-11-24 | by ( Manoj Kumar | ) www.reuters.com time to read: +4 min

REUTERS/Rahul Grover Acquire Licensing RightsNEW DELHI, Nov 24 (Reuters) - A tunnel which collapsed, trapping 41 workers in the Indian Himalayas this month, did not have an emergency exit and was built through a geological fault, a member of a panel of experts investigating the disaster said on Friday. Rescuers are still struggling to reach the construction workers 12 days after the 4.5-km (3-mile) tunnel caved in. Preliminary findings indicated the collapse may have been caused by a geological fault, known as a "shear zone", a member of the panel told Reuters, speaking on condition of anonymity as he is not authorised to talk to the media. "Once the rescue operations are over, we will conduct detailed investigations to find out loopholes in the construction," the panel member said. The tunnel was being built by the state-run National Highways and Infrastructure Development Corporation which is under India's Ministry of Road Transport and Highways.

Persons: Rahul Grover, Vishal Chauhan, Narendra Modi's, Hemant Dhyani, Manoj Kumar, YP Rajesh, Andrew Heavens Organizations: Media, REUTERS, Highways, Infrastructure Development Corporation, India's Ministry of Road Transport, National Highways Authority of India, Supreme, Reuters, YP, Thomson Locations: Uttarkashi, Uttarakhand, India, DELHI

☆ Canada pulls 41 diplomats from India as bilateral tensions escalate over Sikh killing
▼ + stars: | 2023-10-20 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Heavy security deployed at High Commission of Canada on September 19, 2023 in New Delhi, India. Canada has pulled 41 diplomats and their families from India, after New Delhi threatened to have their diplomatic immunities revoked if Ottawa did not comply with demands for parity in diplomatic staffing. The move effectively slashed Canada's diplomatic numbers in India — its largest source of new migrants — by about two-thirds. India's Ministry for External Affairs did not immediately respond to a CNBC request for comment after office hours. Tensions between the two countries escalated in September when Canadian Prime Minister Justin Trudeau's claimed there were "credible allegations" the Indian government orchestrated the extra-judicial slaying of a Sikh separatist in Canada.

Persons: Justin Trudeau's Organizations: High Commission, Canada, Ottawa, Canadian Foreign Ministry, India's, Affairs, CNBC, Canadian Locations: New Delhi, India, Canada, India —, Bengaluru, Chandigarh, Mumbai

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

☆ WHO says no new cases of Nipah virus detected since Sept 15
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

Staff members install a sign reading "Nipah isolation ward, entry strictly prohibited" at a hospital where a ward is being prepared for suspected Nipah virus patients in Kozhikode district, Kerala, India, September 12, 2023. REUTERS/Stringer/File Photo Acquire Licensing RightsOct 3 (Reuters) - No fresh cases of the deadly Nipah virus have been detected since Sept. 15 in India's southern state of Kerala, the World Health Organization (WHO) said on Tuesday. All infected cases were males aged between nine to 45 years and were reported within the Kozhikode district of Kerala, the WHO said, citing India's Ministry of Health and Family Welfare. Currently, there is no vaccine for Nipah, which spreads through contact with infected animals such as bats and pigs. Reporting by Sriparna Roy in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, Sriparna Roy, Anil D'Silva Organizations: REUTERS, World Health Organization, WHO, India's Ministry of Health, Family Welfare, Thomson Locations: Kozhikode district, Kerala, India, India's, Kozhikode, Bengaluru

☆ India reassures confidence in Aadhaar after Moody's questions its reliability
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman goes through the process of finger scanning for the Unique Identification (UID) database system, also known as Aadhaar, at a registration centre in New Delhi, India, January 17, 2018. REUTERS/Saumya Khandelwal Acquire Licensing RightsSept 25 (Reuters) - The Indian government on Monday reassured confidence in its digital identification system, Aadhaar, after a Moody's report last week highlighted concerns about it like establishing authorization and biometric reliability. India's ministry of electronics & IT said the Moody's report "does not cite either primary or secondary data or research in support of the opinions presented in it". The Aadhaar card, which is issued by the Unique Identification Authority of India (UIDAI), has a unique number tied to an individual's fingerprints, face and eye scan. Moody's in its report had said that Aadhaar's system often results in service denials, and questioned the reliability of biometric technologies, especially for manual laborers in hot, humid climates.

Persons: Saumya, Aadhaar, Akanksha, Maju Samuel Organizations: REUTERS, Indian, IT, of India, Gandhi, Rural, Thomson Locations: New Delhi, India, Bengaluru

☆ India suspends visa services in Canada as diplomatic crisis escalates
▼ + stars: | 2023-09-21 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

India tourist visa is seen in a passport in Brampton, Ontario, Canada, on March 17, 2022. India suspended visa applications in Canada on Thursday, escalating the festering diplomatic crisis between the two countries. The recent feud was sparked by the Canadian government's announcement of "credible allegations" the Indian government orchestrated the extra-judicial slaying of a Sikh separatist in Canada. The move will curtail India travel for Canada-based applicants and follows a travel advisory urging Indian nationals to "exercise utmost caution" while traveling in Canada and a reciprocal expulsion of senior diplomats. India's Ministry of External Affairs and Canada's High Commission in India were not immediately available to respond to CNBC requests for comment.

Persons: Justin Trudeau's Organizations: Canadian, BLS International, India's, External Affairs, CNBC Locations: India, Brampton , Ontario, Canada, New Delhi, Ottawa

☆ India urges 'utmost caution' in Canada travel advisory as bilateral feud escalates
▼ + stars: | 2023-09-20 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

A poster of the former Gurdwara President Hardeep Singh Nijjar is displayed on a fence outside the Guru Nanak Sikh Gurdwara temple in Surrey, British Columbia, Canada, on September 19, 2023. India warned its citizens to "exercise utmost caution" in Canada, deepening the diplomatic rift between both countries after Prime Minister Justin Trudeau went public with claims that New Delhi orchestrated the extra-judicial slaying of a Sikh separatist in Canada. India has slammed and rejected these claims as "baseless" and "absurd," accusing Canadian leaders of being sympathetic toward anti-India causes. "Recently, threats have particularly targeted Indian diplomats and sections of the Indian community who oppose the anti-India agenda," the ministry added. "Indian nationals are therefore advised to avoid travelling to regions and potential venues in Canada that have seen such incidents."

Persons: Hardeep Singh, Nanak, Justin Trudeau, Hardeep Singh Nijjar Organizations: External Affairs, U.S Locations: Surrey, British Columbia, Canada, India, Delhi, Canadian, China

☆ Canada expels Indian diplomat as it investigates India’s possible link to Sikh activist’s slaying
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +5 min

Canada's Prime Minister Justin Trudeau speaks during a press conference following a cabinet shuffle, at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023. Canada expelled a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist. Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week. Canadian Foreign Minister Mélanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. It called on Canada to work with India on what New Delhi said is a threat to the Canadian Indian diaspora.

Persons: Justin Trudeau, Trudeau, Hardeep Singh Nijjar, Narendra Modi, Modi, Mélanie Joly, " Joly, Hardeep Singh, Dominic LeBlanc, Joly, Joe Biden, Rishi Sunak, Pierre Poilievre, Poilievre, Jagmeet Singh, Sikh, Singh, Nijjar Organizations: Canada's, Rideau Hall, Indian, Canadian, Indian Embassy, Associated Press, Public, Royal Canadian Mounted Police, United Nations, Assembly Relations, Conservative, Opposition New, India's Ministry, External Affairs, Sikh Organization of Canada Locations: Ottawa , Ontario, Canada, Indian, Surrey, British Columbia, Ottawa, India, New York City, United Kingdom, Delhi

☆ India and China are buying new tanks designed to fight on one of the world's highest battlefields
▼ + stars: | 2023-07-02 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

Both countries are also investing in new light tanks designed for high altitudes and rough terrain. Consequently, India is planning to developing its own light tank to level the playing field. The Type 15A Type 15 tank on display at the Beijing Exhibition Center in October. NOEL CELIS/AFP via Getty ImagesChina has coped with these issues by deploying its Type 15 light tank, one of the few modern light tanks produced in the 21st century. India has tried on and off since 1983 to develop a new light tank but has never settled on a model.

Persons: —, NOEL CELIS, Arjuna, Ajay Aggarwal, hasn't, Danish Ismail, Narendra Modi's, Toubro, Zorawar Singh Organizations: Service, US Army, Bilderwelt, Beijing Exhibition Center, Getty Images, Abrams, Getty, Hindustan Times, Indian Ministry of Defense, REUTERS, Danish, India's Ministry of Defense, Larsen, Rolls Royce Locations: India, Bologna, China, Japan, Ladakh, AFP, Getty Images China, Russia, Western, People's Republic of China, New Delhi, Pakistan, Indian, Belgian

☆ India's Modi is on a landmark visit to the U.S. Here's what to expect
▼ + stars: | 2023-06-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +10 min

"This is a very important visit, it is as much about India reaching out to the U.S., as it is about the U.S. reaching out to India," Pant said. Energy: Reliance on Russian oilAlthough India's purchase of Russian weapons could fall, the same can't be said for oil. When Western nations imposed sanctions on Russian oil as a result of the unprovoked war in Ukraine, India doubled down on its purchases. Russian oil currently accounts for almost 20% of India's annual crude imports, a significant increase from just 2% in 2021, Reuters reported. But India has continued to buy cheap Russian oil since and continues trading with the country despite global sanctions on the Kremlin.

Persons: Joe Biden, Narendra Modi, Harsh, Pant, Biden, Emmanuel Macron, Yoon Suk, Aamer, Vladimir Putin, Alexandr Demyanchuk, Modi, Manjari Miller, Lisa Curtis, Curtis, Karthik Nachiappan, Ashley Tellis, Amit Ranjan, India, Ranjan, —, Tesla, Elon Musk, Tim Cook, Google's Sundar Pichai, Satya Nadella, Raj Subramaniam Organizations: Indian, White House, Getty, U.S, Observer Research Foundation, South, Asia Society Policy Institute, CNBC, Kremlin, Reuters, Shanghai Cooperation Organization, Afp, India's Ministry of Defense, Council, Foreign Relations, NATO, Pacific Security, Center, New, New American Security, Carnegie Endowment, International Peace, Institute of South Asian Studies, National University of Singapore, Energy, Reliance, NUS Institute of South Asian Studies, Technology, China Partnerships, Emerging Technology Locations: Washington ,, India, U.S, Delhi, South Asia, Russia, Ukraine, Samarkand, Pakistan, New American, China, United States, Asia, New York

[1/2] Customers look at a Hero MotoCorp Karizma motorbike at a Hero MotoCorp showroom in the western Indian city of Ahmedabad April 26, 2013. REUTERS/Amit Dave/File PhotoCompanies Hero MotoCorp Ltd FollowNEW DELHI, June 15 (Reuters) - India's Ministry of Corporate Affairs has ordered an investigation to assess Hero MotoCorp's (HROM.NS) relationship with a third-party vendor in a case related to alleged diversion of funds, two government sources told Reuters on Thursday. The investigation has been ordered in the "public interest" to probe the ownership structure of Hero MotoCorp and whether it controlled the third-party vendor, said the two sources, who are privy to the internal government directive. Hero MotoCorp, India's largest manufacturer of motorcycles, said in a statement to Reuters that it had not received any communication from the government and could not comment. Separately, Hero MotoCorp was under the scrutiny of India's income tax authorities last year.

Persons: Amit Dave, MotoCorp, Hero MotoCorp, Pawan Munjal, Nikunj Ohri, Aditya Kalra, Aditi Shah, Jason Neely Organizations: REUTERS, NEW, India's Ministry, Corporate Affairs, Reuters, India's, Companies, Thomson Locations: Indian, Ahmedabad, NEW DELHI, New Delhi

☆ Column: India's pledge to stop new coal power plants to hit key states
▼ + stars: | 2023-05-09 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

IN CONSTRUCTIONThe new proposals make clear that whatever coal capacity is already under construction in India will proceed. A total of 32,000 megawatts of new coal power is currently being built in India, according to the Global Energy Monitor (GEM). India coal capacity under constructionOnce completed, that would boost current operating capacity by close to 14%, and lift total Indian coal capacity to beyond 266,000 MW, GEM data shows. Alongside the widespread swell in coal capacity is even faster growth in renewables energy supply capacity across India. Proponents of immediate cuts to coal power use may be disappointed that several new coal projects will still emerge.

☆ China assures Russia, India of deepening 'cooperation'
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +3 min

[1/3] India's Foreign Minister Subrahmanyam Jaishankar and his Chinese counterpart Qin Gang pose for a photograph during the SCO Council of Foreign Ministers' meeting in Goa, India, May 4, 2023. Currently the bloc includes Russia, India, China, Pakistan and four Central Asian countries - Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran and Belarus are expected to be inducted into the SCO at a summit in New Delhi in July, an Indian foreign ministry official said. In a separate meeting with Indian Foreign Minister Subrahmanyam Jaishankar, Qin said China is willing to deepen "coordination and cooperation" on international and regional issues with India and bring ties back to a "healthy" track of development. China's ties with India have deteriorated since 2020, when their troops clashed on a disputed Himalayan border and 24 people were killed.

☆ Exclusive: India regulator probing some Adani offshore deals for possible rule violations-sources
▼ + stars: | 2023-04-01 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +4 min

An Adani Group spokesperson said Vinod Adani is a member of the Adani family and is part of the promoter group, but he does not hold any managerial position in any of the listed Adani entities or their subsidiaries. Vinod Adani could not be reached for comment. Hindenburg's report eroded more than $100 billion in the value of shares in Adani group of companies. India's Supreme Court asked SEBI in March to investigate the Adani Group for any lapses related to public shareholding, related party rules or regulatory disclosures. SEBI's investigation into Adani's possible 'related party' transactions with offshore entities with links to Vinod Adani has not been reported before.

☆ India summons Canada High Commissioner, concerned over Sikh protesters
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, March 26 (Reuters) - India summoned Canada's High Commissioner on Sunday to "convey strong concern" over Sikh protesters in Canada and how they were allowed to breach the security of India's diplomatic mission and consulates. According to Canadian media reports, hundreds of protesters gathered in front of the Indian consulate in Vancouver on Saturday over demands for an independent Sikh state, a simmering issue for decades recently triggered again. Canada has the highest population of Sikhs outside their home state of Punjab in India. Khalistan is the name of an independent Sikh homeland that some members of that community aspire to, both at home in India and in countries where Sikhs have settled. Reporting by M. Sriram, editing by YP Rajesh and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ China urges global lenders' involvement in developing nations' debt
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] Chinese Foreign Minister Qin Gang and India's Foreign Minister Subrahmanyam Jaishankar shake hands before the start of G20 foreign ministers' meeting in New Delhi, India, March 2, 2023. India's Ministry of External Affairs/Handout via REUTERSNEW DELHI, March 2 (Reuters) - Chinese Foreign Minister Qin Gang called on global financial institutions on Thursday to play an active role in restructuring the debt of developing countries. "China has put forth relevant initiatives under the G20," Qin said. "China has suspended more debt service payments than any other G20 member, and participated in the debt treatment under the Common Framework." Last week, China urged G20 nations to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to "resolve the problem in a comprehensive and effective manner".

NEW DELHI, Feb 16 (Reuters) - G20 finance and central bank chiefs meet in India next week at the first-year anniversary of Russia's invasion of Ukraine to discuss rising debt troubles among developing countries, the regulation of cryptocurrencies and the global slowdown. The Feb. 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of India's G20 presidency and will be followed by a March 1-2 meeting of foreign ministers in New Delhi. As global borrowing costs rise, India - whose neighbours Sri Lanka, Pakistan and Bangladesh have all sought International Monetary Fund support in recent months - wants to put debt relief at the forefront of discussions at the finance talks. "Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage," India's Ministry of Finance told parliament this week. Neither the Russian finance minister nor the central bank chief were expected to attend the meeting.

☆ Adani slashes growth targets amid rout sparked by Hindenburg - Bloomberg News
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

Feb 12 (Reuters) - India's Adani group has halved its revenue growth target and plans to scale down fresh capital expenditure, Bloomberg News reported on Sunday. Adani group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from 40% originally targeted, Bloomberg News said citing people familiar with the matter. A spokesperson for Adani Group did not immediately respond to a request for comment. Adani group has also been a part of India's market regulator's investigation into the group's links to some of the investors in its scrapped $2.5 billion share sale. Earlier this month, India's ministry of corporate affairs started a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years, Reuters reported, citing two senior government officials.

☆ Adani slashes growth targets amid rout sparked by Hindenburg, Bloomberg reports
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

☆ Indian regulator probes Adani's links to investors as Modi's office is briefed
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +4 min

One of the sources said the focus of the probe would be whether any of the anchor investors are "connected" to the founder group. Last week, the group's flagship entity Adani Enterprises pulled its secondary share offering, India's largest ever, because of the sharp selloff. SEBI and the Adani Group did not respond to requests for comment about the investigation. The federal corporate affairs ministry, responsible for regulating Indian businesses, has briefed officials in Modi's office and been in touch with SEBI, the market regulator, one of the officials said. Modi's office and India's Ministry of Corporate Affairs did not respond to requests for comment about the regulatory probe into Adani after publication of the Hindenburg report.

[1/3] Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad April 2, 2014. Last week, the group's flagship entity Adani Enterprises (ADEL.NS) pulled its secondary share offering, India's largest ever, because of the sharp selloff. Adani has said Monarch was selected for previous share sales "for their credentials and ability to tap into the retail market". On Elara, Adani has said "innuendoes" that the firm was in any manner related to the conglomerate founders were incorrect. The federal corporate affairs ministry, responsible for regulating Indian businesses, has briefed officials in Modi's office and been in touch with SEBI, the market regulator, one of the officials said.

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