BUSINESS
Adani Group's Market Cap Recovers to Pre-Hindenburg Levels Amid Huge Stock Rallies
Topping the day's opening bell, shares of all Adani Group firms opened strongly in the green. The individual growth of major constituents such as Adani Enterprises was up by more than 9%, while Adani Ports and Special Economic Zone marked its lifetime high with a 10% increase.
Rare Market Phenomenon: Rs 12 Lakh Crore Added to Stock Markets in One Day
The Bank Nifty index scaled a historical peak of 51,000 and closed at 50,979. The significant gains in the banking sector were led by Bank of Baroda, which rose by 12.10 per cent, followed by the State Bank of India at 9.07 per cent. The market capitalization of the SBI crossed the Rs 8 lakh crore mark, and it is the seventh company to reach this milestone in the country.
After successful launch of Agnibaan rocket, Agnikul Cosmos aims to launch satellites by 2025: CEO Ravichandran
Agnikul co-founder and CEO Srinath Ravichandran said: "With our ability to do semi-cryogenic engines and rockets additively manufactured on 3D-printers, we offer a very fast turnaround time to our customers, enabling launch vehicle customization to a customer's specific need in a matter of months.".
Big Boost to Economy | GST collection for May 2024 at Rs 1.73 lakh crore, up 10 per cent YoY
Looking at the broader picture, the gross GST collections for the fiscal year 2024-25, up to May, amounted to Rs 3.83 lakh crore, demonstrating a commendable 11.3 percent year-on-year increase, as disclosed by the Ministry of Finance.
India gets highest FDI from Singapore in 2023-24, Mauritius at second spot
Although there was a decline of 31.55% in FDI from Singapore, amounting to USD 11.77 billion in the mentioned fiscal year, India still stood out as the top recipient of investments from the island nation, as revealed by the data.
Gautam Adani overtakes Mukesh Ambani to become Asia's richest person once again
Adani's net worth has reached USD 111 billion, positioning him as the world's 11th wealthiest individual, according to the Bloomberg Billionaires Index, . Ambani's fortune, on the other hand, stands at USD 109 billion, placing him at the 12th spot globally.
Core Sector Industries Report 6.2% Growth in April 2024
Electricity generation rose 9.4 percent in April year-on-year. The cumulative index of electricity for the fiscal year 2023-24, until March 31, rose 7.1 percent over the corresponding period of the previous year.
Massive Boost to Economy: India clocked 8.2% GDP growth in FY24, 7.8% growth registered in Q4
This high growth rate has been primarily driven by robust performances in the manufacturing and mining sectors. The manufacturing sector witnessed a remarkable turnaround with a 9.9 percent growth in 2023-24, up from a contraction of -2.2 percent in the previous fiscal year.
RBI Forecasts 7% Growth, Bright Future for Indian Economy in 2024-25
In fact, it was the third consecutive year of growth at 7 percent or higher, reflecting sustained momentum. The report further said this was underpinned by continued strengthening of macroeconomic fundamentals, buoyant financial and corporate sectors, and resilience in the external sector, which have been the drivers of growth going into the next fiscal.
'Totally False': Adani Group refutes reports of acquiring stake in Paytm
“We categorically deny this baseless speculation. It is totally false and untrue,” a spokesperson for the Adani Group stated.
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