slide

Adani Group gains as GQG Partners acquires stake in conglomerate

Seven Adani Group companies were seen trading in green zone after the news that GQG Partners acquired 21 crore shares worth 15,446 crore in four of those companies.

GQG bought 38,701,168 shares of Adani Enterprises, 88,600,000 shares of Adani Ports & Special Economic Zone, 28,400,000 shares of Adani Transmission and 55,600,000 shares of Adani Green Energy.

Jefferies India Private Ltd served as the Sole Broker for the deal.

GQG is now a significant investor in the growth and development of critical Indian infrastructure as a result of the investment.

Since Hindenburg Research accused Adani Group of improperly using offshore tax havens and stock manipulation, their market value decreased by about dollar 135 billion as of Thursday's close.

The Supreme Court mandated on Thursday that an expert group look into any regulatory lapses involving the Adani Group.

Adani denied the charges made by Hindenburg Research.

All seven Adani Group companies have seen an increase in their market value since Thursday.

Click here to know more about Adani Group stocks. 

Check here for more market-related stories. 

Shares of Adani Enterprises jumped over 11% followed by Adani Ports & Special Economic Zone, which was up about 7%. Adani Green Energy Ltd, Adani Total Gas Ltd, Adani Transmission Ltd, Adani Power Ltd, and Adani Wilmar Ltd were up 5% each.

India's services sector activity hits 12-year high in Feb: PMI

RVNL shares soar over 4% after company emerges as lowest bidder for Vande Bharat contract

FTX PIO pleads guilty to fraud: Report

Rupee rises 36 paise to 82.24 against US dollar

Manufacturing companies' sales growth drops to 10.6% in Q3FY23: Report

State Bank of India gains over 3% following plans to reduce its stake in Yes Bank

The infamous wall street rivalry: The story of Cornelius Vanderbilt and Daniel Drew

Stocks To Watch: Adani Enterprises, Mahindra & Mahindra Finance, Titagarh Wagons, MOIL are stocks in news today

Axis Bank completes acquisition of Citibank’s India consumer business; does this make the stock buy-worthy?

Stock Check: JSW Infra jumps almost 100% from IPO price in 5 months; should you still buy?

Currently trading at around  <span class='webrupee'>₹</span>236, the newly listed JSW Infra has surged almost 100 percent jump from its IPO price of  <span class='webrupee'>₹</span>119 in less than 5 months. Technical and fundamental experts suggest if you should still buy the infra stock.

Axis Mobile App ranks top position on NPS leaderboard

According to a survey, Consumer awareness was most notable for payment platforms such as Paytm, Google Pay, and PhonePe. However, when it comes to Net Promoter Score, Axis Mobile App claims the top position with a score of 59, followed by ICICI Bank's iMobile Pay, and then BHIM.

Weekend Wrap: From Trent to Adani Power, top news and market movers this week: 27 October 2023

The stock market cycle is always a few months ahead of the economic cycle.

From top news makers to market performance, here's the market wrap for the week ended 27 October 2023.

Why rebalancing a portfolio provides a safety net against volatility?

Investing isn't a 'set it and forget it' game.

Rebalancing a portfolio provides a safety net by helping control volatility and minimizing the impact of market downturns, even though it may not always yield higher returns compared to an unbalanced, equity-heavy approach

Rebalancing of portfolio: What is it and why is this important?

Whenever the market spikes or declines, investors are supposed to rebalance their portfolio strategically in order to stay aligned to their financial goals

Adani Group gains as GQG Partners acquires stake in conglomerate

Shares of Adani Enterprises jumped over 11% followed by Adani Ports & Special Economic Zone, which was up about 7%. Adani Green Energy Ltd, Adani Total Gas Ltd, Adani Transmission Ltd, Adani Power Ltd, and Adani Wilmar Ltd were up 5% each.

Topics to follow