Adani loses $13 billion in four days in worst wealth devastation last week

Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raised questions about some offshore investors. The news triggered a stockmarket rout in his conglomerate’s six listed stocks. The 58-year-old tycoon has lost more money this week than anyone else in the world, with his personal fortune tumbling by about […]

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India’s GDP growth may fall below 9% in FY22 due to 2nd Covid wave: CARE Ratings Survey

Amid a raging second wave of COVID-19 and subsequent restrictions on business activities imposed by several states, economic recovery is beginning to lose steam and the country’s GDP growth is likely to be below nine per cent for the current fiscal, according to a survey. At least 80 per cent of the respondents expect consumer demand for non-essential items […]

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Retail, wholesale traders incur loss of Rs 6.25 lakh crore in April 2021 due to Covid restrictions: CAIT

Around 8 crore traders in India have suffered a cumulative business loss to the tune of Rs 6.25 lakh crore during April due to multiple Covid restrictions including lockdowns, curfews, etc., enforced by state governments, according to the apex body for traders’ community, Confederation of All India Traders (CAIT). In a statement issued by CAIT, […]

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SME chemicals sector set for rebound in revenue: CRISIL SME Tracker

Small and medium enterprises (SMEs) in the domestic chemicals sector are on course for 18-23 per cent revenue growth in the current fiscal year (FY22), mainly owing to recovery in domestic demand and higher realisation due to a rise in the prices of chemicals, stated a report from CRISIL SME Tracker. Moreover, an ongoing surge in exports as importer-countries reduce […]

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Sebi’s margin rules change harming commodities more than equities

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Changes to margin rules by Sebi have impacted trading volumes across asset classes over the past few months. Although the move is aimed at preventing brokers from providing excessive leverage to traders, limiting risk and protecting retail investors, margin funding is an important tool for smaller brokers and some market participants say further tightening of […]

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SEBI approves RIL’s proposal to hive off oil to chemicals (O2C) business into an independent subsidiary

Mukesh Ambani-owned Reliance Industries Limited (RIL), which had proposed hiving off its oil to chemicals (O2C) business into an independent subsidiary said it had received an approval from the Securities and Exchange Board of India (SEBI) and stock exchanges to create this subsidiary. The company now requires the approval of equity shareholders and creditors, regulatory authorities, and the […]

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