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Nifty's ability to hold the 23,500 mark on expiry day is under scrutiny, with particular attention on Adani stocks and UPL. Market participants are keenly observing these developments as they unfold.
Markets are poised to navigate geopolitical risks, with particular attention on Adani stocks. Investors are keen on updates that could impact their transactions, highlighting the importance of staying informed in a volatile environment.
Units of Adani Group have scrapped a $600 million bond following US charges against founder Gautam Adani for allegedly participating in a bribery scheme involving over $250 million to secure solar energy contracts. This decision comes after recent press releases from the Department of Justice and the Securities and Exchange Commission, leading to a significant drop in the group's existing US-currency notes. Despite past resilience against allegations, this incident highlights ongoing risks in emerging markets related to governance and regulatory scrutiny.
Gautam Adani, founder of the Adani Group, has been charged by US prosecutors for allegedly participating in a $250 million bribery scheme aimed at securing solar energy contracts from Indian government officials. Following the charges, dollar-denominated notes issued by the Adani Group plummeted, with some falling as much as 10 cents on the dollar. This decline marks a significant drop, particularly for Adani Electricity Mumbai notes, which fell by 8.6 cents, echoing the turmoil triggered by a previous short-seller report in 2023.
Nvidia reported a 94% year-on-year revenue surge to $35.08 billion for the third quarter, with net income rising 109% to $19.3 billion. Despite beating expectations, shares fell 2.5% in extended trading, as investors reacted to a slower growth rate compared to previous quarters. The company anticipates continued strong demand for its Blackwell chip, but expectations have heightened, leading to a desensitization to its remarkable performance.
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Asia-Pacific markets are expected to decline as investors react to Nvidia's strong but slowing quarterly results, with a 94% revenue increase to $35.08 billion. Meanwhile, Indian stocks are under scrutiny following the indictment of Adani Group's chairman for bribery and fraud. In the U.S., Federal Reserve officials express mixed views on inflation and interest rates, with some advocating for further rate cuts while acknowledging ongoing inflationary pressures.
A unit of Gautam Adani's conglomerate raised $600 million in the US corporate bond market just hours before he was indicted for allegedly participating in a bribery scheme. Prosecutors claim Adani and others promised over $250 million in bribes to secure solar energy contracts in India, misleading US investors in the process.
Billionaire Gautam Adani has been indicted in the United States on bribery charges. This legal development raises significant concerns regarding his business dealings and the implications for his vast empire. Further details on the case are expected to unfold as the situation develops.
Gautam Adani is re-entering the dollar bond market after a previous deal was postponed, capitalizing on tightened credit spreads following Donald Trump"s election victory, which has enhanced global risk appetite. The funds raised will be used to repay foreign-currency loans, although rising US yields may lead to increased borrowing costs compared to the earlier offering planned for October.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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02:29 21.11.2024
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00:55 21.11.2024
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