SHARES OF GQG Partners, a top Adani Group investor, tumbled 14% in Australia after UBS downgraded its rating on the stock to "neutral" from "buy". The brokerage firm said that the Rajiv Jain-led investment firm may have lost $390 million in funds under management in two days following the indictment of Adani Group executives in the US.
This is the first time that UBS has downgraded its rating on GQG since it began covering the stock in October 2022. The Switzerland-based bank also slashed its target price for GQG to A$2.3 from A$3.3 earlier.
The US authorities charged Adani Group's founder Gautam Adani and some other executives in an alleged bribery case. The group has since called the charges baseless.
Denne historien er fra December 03, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra December 03, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Rabi sowing picks up pace, rises 4%
SOWING OF RABI or winter crops such as wheat, pulses, oilseeds and coarse cereals continues to gather pace across the country on robust soil moisture due to surplus monsoon rainfall and higher prices.
800 job offers in two days at IIT Kharagpur
STUDENTS OF IIT Kharagpur have received over 800 job offers in the first two days of the 2024-25 placement session, the premier institute said in a statement on Monday.
Liren-Gukesh clash: 'Mistake after mistake'
Ex-champions unimpressed by level of play at FIDE world chess
3 Scorpene subs, 26 Rafale-M jets deal likely by Jan
Chinese activity in Indian Ocean remains a worry, says Navy chief
APSEZ: Global expansion through local partnerships
Emphasis on key routes in Southeast Asia, Africa & West Asia
Bajaj Fin: Revenue flow to continue
Company to shift resources to boost fee income
HUL: Reshaping portfolio for future
Premiumisation continues to be the top agenda
MAGA pressure on the rupee
With the rupee falling less than other currencies and more Chinese dumping likely, Indian business may face domestic sales dip and less competitive exports
Wrong oil price is really a problem for OPEC+
THE BEST SCANDALS are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately – the group has been keeping oil prices too high, effectively subsidising its rivals.
GDP shock not a trigger
A POSSIBLE START TO RBI'S RATE-CUTTING CYCLE COULD BE SEEN IN FEBRUARY
