Debt-funded acquisitions can put pressure on Adani group ratings: S&P
Richest Indian Gautam Adani’s group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. Read more
Govt decides to put restrictions on export of wheat flour to curb prices
The government on Thursday decided to put restrictions on the export of wheat or meslin flour to curb rising prices of the commodity. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi. Read more
HDFC Bank on Thursday said it will invest in IPO-bound Go Digit Life Insurance. The lender said it entered into an indicative and non-binding term sheet with the Fairfax Holdings-backed insurer. In a stock exchange filing, HDFC Bank said it will invest between Rs 49.9 crore to Rs 69.9 crore in two tranches to acquire up to 9.94% equity stake in the company. Read more
Soren faces disqualification for holding office of profit, blames BJP
Jharkhand Chief Minister Hemant Soren, who is facing threat of disqualification as an MLA for holding an office of profit, on Thursday blamed the opposition BJP for the controversy as sources indicated that the Election Commission has submitted its report to Governor Ramesh Bais. Soren said that “it seems BJP leaders and their puppets have drafted the report which is in a sealed cover”. He said that there is no communication to him officially. Sources, however, said that BJP is seeming confident about their petition against him. Read more
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