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In a significant market development, Adani Group stocks experienced a sharp decline, with some shares falling up to 7%. This downturn has resulted in a staggering loss of approximately ₹53,000 crore in market capitalization. The decline follows fresh allegations from Hindenburg Research against SEBI chief Madhabi Puri Buch, which have caused widespread concern among investors. Background of the Allegations Hindenburg…
In a recent development, the Indian government has taken decisive action against two prominent spice-exporting companies: Everest and MDH. The issue at hand revolves around elevated levels of ethylene oxide, a cancer-causing chemical, found in their products exported to Singapore and Hong Kong The Contamination Crisis 1. The Unsettling Discovery Certain batches of Everest and MDH products were flagged for violating rules related to ethylene oxide residue. This…
In the dynamic landscape of corporate performance, Apollo Pipes Limited recently released its Q4 FY24 results, revealing both triumphs and challenges. Let’s delve into the financial journey of this company and understand the implications of its recent performance. Snapshot of Q4 FY24 Results Net Profit Decline: Apollo Pipes witnessed a 56.62% decline in net profit, with the figure dropping to ₹6.52 crore for the quarter ending in March…
Nikhil Kamath, co-founder of Zerodha, has introduced a groundbreaking initiative in India’s entrepreneurial landscape with the unveiling of WTFund. This pioneering non-dilutive grant agnostic fund is dedicated to nurturing young talents aged 25 and under, marking a significant development in supporting emerging visionaries. Empowering the Next Generation WTFund sets its sights on fostering individuals poised to revolutionize industries with innovative ideas and compelling visions.…
India’s diesel exports to Asia have hit a major roadblock. Recent reports indicate a staggering 63% decline in March 2024 compared to the previous year. This sharp drop can be attributed largely to increased competition from established players like China and South Korea. This decline presents a significant challenge for the Indian refining industry. Diesel exports have been a key…
Bajaj Auto, one of the leading automobile manufacturers in India, has reported a significant 25% year-on-year growth in its total vehicle wholesales, including exports, for March 2024. This marks a substantial rise from the 2,91,567 units sold in March 2023. A Closer Look at the Numbers The Pune-based automaker sold a total of 3,65,904 units in March 2024. This includes a…