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Adani Group stocks saw a sharp decline on Friday. This followed news that the US SEC is seeking court permission to email summons to founder Gautam Adani and nephew Sagar Adani. Allegations involve fraud and a bribery plot. The group's market value dropped by over $9 billion. Investors are advised to wait for clarity.
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News and Media
The Indian rupee hit a record low of 91.97 against the dollar on Friday, driven by equity selling and importer demand. Reports of potential US regulatory summons to billionaire Gautam Adani in connection with alleged bribery and fraud significantly impacted the currency's retreat. Foreign investors have divested over $3 billion from Indian markets this month.
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News and Media
Indian stock markets ended a difficult week with a significant drop on Friday. The rupee hit new record lows, and global tensions fueled investor caution. Shares of Adani Group companies saw a sharp decline. Broader markets also experienced substantial losses. Investors are concerned about global uncertainty and potential conflicts.
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News and Media
Videotelephony firm Zoom, telecom giant T-Mobile and low-cost airline Southwest Airlines are among the latest global companies considering the establishment of global capability centres (GCCs) in India, said people aware of the matter, adding that they are in talks with several states toward this end.
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News and Media
China's tech giants, including Alibaba and Tencent, are preparing to order Nvidia's H200 AI chips, signaling Beijing's imminent approval for these crucial components. This move prioritizes major Chinese companies' AI development needs, potentially boosting Nvidia's business. Local chipmakers like Huawei are also expanding production amid these developments.
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News and Media
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