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Business
]Kerala Budget: ₹2,000 crore allocated to address price rise
Published on Feb 03, 2023 12:31 PM IST
Kerala Finance Minister K N Balagopal on Friday presented the Left government's budget for the fiscal 2023-24, allocating ₹100 crore for welfare programmes and setting aside ₹2,000 crore for tackling price rise.

PTI | | Posted by Yamini C S
Adani stock nosedive costs $120 billion, half of group's value: Report
Adani group’s 10 stocks all fell in early Mumbai trading, with $120 billion, or more than half of their combined value, erased since the US-based short seller last week claimed that offshore shell entities were used to inflate Adani group’s revenues and manipulate stock prices.

Updated on Feb 03, 2023 11:33 AM IST
Bloomberg | | Posted by Lingamgunta Nirmitha Rao
Byju's lays off 1,500 employees, cites cost optimisation and outsourcing of ops
In October last year, the Bengaluru-based edtech giant had handed pink slips to 2,500 staff members.

Published on Feb 03, 2023 10:00 AM IST
HT News Desk, New Delhi
Adani firm's shares slumps 10% at open, dropped from Dow Jones indices
Adani Group's shares continue to see a downfall after its founder-chairman was allegedly found in committing accounting fraud.

Updated on Feb 03, 2023 11:40 AM IST
AFP |
Opening bell: Sensex 482 points in green at 60,414, Nifty rises to 17,728
From the Sensex pack, IndusInd Bank, Titan, Bajaj Finance, HDFC Bank, Bajaj Finserv, ICICI Bank, HDFC and State Bank of India were among the major winners.

Published on Feb 03, 2023 09:20 AM IST
PTI |
Amul hikes milk prices by ₹3 per litre | Check details
Amul Milk Price Hike: Amul Gold will be available at ₹66 per litre, Amul Taaza at ₹54 per litre and Amul cow milk at ₹56 per litre and Amul A2 buffalo milk will cost ₹70 per litre.

Updated on Feb 03, 2023 09:42 AM IST
Aniruddha Dhar, New Delhi
Adani lost $108 billion in a week: ‘Headlines generating negative attention'
Since the allegations were made by Hindenburg Research, several financial institutions from New York to London and Tokyo have dissected their exposure to Gautam Adani, ranked no. 2 among the world’s wealthiest.

Updated on Feb 03, 2023 07:44 AM IST
Aniruddha Dhar, New Delhi
Adani's bid to restore confidence post rout, likely to prepay share pledges
After being marred by plummeting stock prices, Adani Group's founder-chairman is in talks with lenders to release some stock that was pledged as collateral.

Updated on Feb 03, 2023 06:20 AM IST
Bloomberg |
Google's parent announces ‘meaningful’ slowdown in hiring pace for 2023
The parent company, Alphabet Inc., made its largest job cuts last month with 6% reduction of its global workforce.

Updated on Feb 03, 2023 05:46 AM IST
Bloomberg |
Budget: Hydrogen mission outlay shows India’s green commitment, says TERI chief
The Union Budget 2023-24 may help India not only to achieve its global climate commitments but shift all sectors to adopt energy transition and sustainable practices, said Vibha Dhawan, director general, TERI

Updated on Feb 03, 2023 11:23 AM IST
Union Budget: Disappointed by no increase in PM-Kisan payouts, say farmers
The agriculture sector, the country’s largest employer, has grown at an average annual growth rate of 4.6% in the last six years, according to data from the annual Economic Survey 2022-23.

Union Budget 2023-24: Promotion of Indian languages receives impetus
Finance minister Niramala Sitharaman in the Union Budget 2023-24 has set aside ₹300.7 crore for the national institutions for the promotion of Indian languages, an increase of 20% from 2022-23

Updated on Feb 03, 2023 12:19 AM IST
The Indian economy: Past, present, future
No other government has prioritised government capital spending as much as the second Narendra Modi government is doing.

Updated on Feb 03, 2023 11:17 AM IST
Boris Johnson's brother quits Adani-linked firm; Cong says 'not a squeak' here
Amid the fraud allegations against the Adani Group, UK former prime minister Boris Johnson's brother Jo Johnson quit a firm that was linked to the Adani empire.

Updated on Feb 02, 2023 10:36 PM IST
NSE puts some Adani firms under ASM framework amid stock rout
The move by the stock exchange comes after a rout in the shares of the billionaire Gautam Adani's group companies in the aftermath of a scathing report by a U.S. short seller.

Published on Feb 02, 2023 08:50 PM IST
Reuters |
Bangladesh asks Adani Power to revisit 2017 pact over ‘excessive’ pricing: Report
BPDB, which oversees the development of Bangladesh’s power sector, has sent a letter to Adani Power regarding revision of the agreement, the UNB news agency said, citing unnamed officials

Updated on Feb 02, 2023 06:51 PM IST
After opening in red, Sensex recovers to end at 59,932; Nifty falls to 17,610
From the Sensex pack, ITC jumped 4.74 per cent. The other major gainers were IndusInd Bank, Hindustan Unilever, Infosys, Wipro, HCL Technologies, Tata Consultancy Services and ICICI Bank.

Published on Feb 02, 2023 03:39 PM IST
PTI |
Adani calls off share sale: What is an FPO? How is it different from IPO?
Companies may use an FPO to reduce debt or raise more capital for expansion.

Published on Feb 02, 2023 11:32 AM IST
Ritu Maria Johny | Edited by Chandrashekar Srinivasan
$2.5 billion share sale cancelled; Adani Enterprises tumble over 28%
Adani's empire has lost more than $100 billion following explosive allegations of accounting fraud last week by US short-seller Hindenburg Research.

Published on Feb 02, 2023 10:45 AM IST
AFP | | Posted by Ritu Maria Johny
Markets recover after early fall; Sensex climbs to 59,886, Nifty at 17,606
Indices had opened in red in the wake of an announcement by the Adani Group – facing allegations of fraud – that it is taking back its FPO, despite full subscription.

Published on Feb 02, 2023 09:24 AM IST
PTI |
‘Important for me to confess…’: Adani to investors on FPO withdrawal
Gautam Adani's rare address to investors comes a day after his flagship firm abruptly called off $2.5 billion share sale in a dramatic reversal as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

Updated on Feb 02, 2023 12:17 PM IST
US Fed hikes rates: Oil prices rise, dollar slumps
The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday.

Published on Feb 02, 2023 07:28 AM IST
Reuters | | Reported by Ritu Maria Johny
What's new about the new tax regime?
Presenting the Union Budget for FY 2023-24, Sitharaman said that the proposals regarding personal income tax will primarily benefit the country's “hard-working middle class”.

Updated on Feb 02, 2023 12:57 PM IST
No bad news is good news; pvt capex will take one more year to revive: Bankers
SBI chairman Dinesh Khara said the budget is growth accretive, fiscally prudent and consumption supportive.

Published on Feb 02, 2023 06:48 AM IST
PTI |
Will the Budget nudge growth, spur consumption?
Finance Minister Nirmala Sitharaman said that the world has recognised the Indian economy as a 'bright star' which is expected to grow in the current year at seven per cent - the highest among all the major economies.

Updated on Feb 02, 2023 12:56 PM IST
Explainer: Adani vs Hindenburg- All you need to know about the story so far
Founded in 2017 by Nathan Anderson, Hindenburg Research is a forensic financial research firm which analyses equity, credit and derivatives. It has a track-record of finding corporate wrongdoings and placing bets against the companies.

Published on Feb 02, 2023 06:38 AM IST
Reuters | | Posted by Yagya Sharma
Gautam Adani, one of India's most powerful men, suffers a rare defeat
Adani is no stranger to controversy. The most recent was months of protest by fishermen against construction of a $900-million port in southern India's Kerala, in which he sued the state government and fishermen leaders.

Updated on Feb 02, 2023 10:08 AM IST
Reuters |
Decoding the big numbers in Union Budget 2023-24
The highlights from the Budget that sought to emphasise the govt's commitment to fiscal consolidation while introducing new tax slabs.

Updated on Feb 02, 2023 12:48 PM IST
Adani Enterprises calls off FPO, to return money to investors
Citing market volatility and “the unprecedented situation”, the company attributed its abrupt decision to a need to protect its investors by returning their proceeds.

Updated on Feb 02, 2023 03:21 AM IST
First budget of Amrit Kaal will build a strong foundation : PM Modi
In a televised speech soon after Union finance minister Nirmala Sitharaman presented the Budget in Parliament, Modi said the provisions prioritise the deprived sections, including craftspersons, who he dubbed as the creators of the nation.

Updated on Feb 02, 2023 12:51 AM IST
Smriti Kak Ramachandran, New Delhi