India's stock market regulator was drawn into an unseemly swirl of suspicions raised by US-based Hindenburg's report of 24 January that alleged the Adani Group was a "corporate con" while accusing it of shareprice manipulation for dubious gains, among other things, all flatly denied by Adani. The Securities and Exchange Board of India (Sebi) recently proposed tighter ownership disclosure norms for foreign portfolio investors (FPIs), calibrated by risks entailed by concentrated holdings in very few firms-as some FPIS have had in Adani companies, placing them in the eye of this storm. On Monday, Sebi responded to the report submitted on 6 May by a Supreme Court-appointed panel of experts tasked partly with looking for regulatory gaps in aid of an explanation for the volatility that beset Adani stocks after the US ort-seller struck. I a court filing, Sebi rejected the panel's call for time-bound probes, citing infeasibility, but what caught market attention was its defence of a rule tweak implicated by the 6 May report in a data fog around efforts to probe Adani.
Denne historien er fra July 12, 2023-utgaven av Mint Mumbai.
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Denne historien er fra July 12, 2023-utgaven av Mint 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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India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
