The Adani Group has been recently cleared of bribery charges by the US Department of Justice, according to a filing made by Adani Green Energy Ltd. Various media houses had reported the charges against Group Chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain, but the company has denied these reports as incorrect. The statement filed by Adani Green Energy Ltd. clarified that the three individuals were not charged with any violation of the US Foreign Corrupt Practices Act.
The allotment of shares for the highly anticipated NTPC Green Energy IPO has been finalized, with investors receiving bank debit messages. The IPO was oversubscribed by 2.55 times, with shares set to list on the BSE and NSE on November 27. In the grey market, the stock is currently trading at a Rs 4 premium, with experts predicting further improvements as the Indian stock market sees a rally. Interested investors can easily check the IPO allotment status online using the BSE, NSE, or Kfin Technologies' portals.
Indian equities continued their upward trend for the second day, with Nifty and Sensex both registering gains of over 1.5%. Bank Nifty also saw an increase of nearly 2%, led by gains in HDFC Bank, ICICI Bank, SBI and Axis Bank. This surge can be attributed to the positive sentiment post the state election results, which have been deemed as highly positive for the market. Analysts predict that the rally may continue for a few more days, driven by short covering and bullish momentum. Meanwhile, Asian markets also traded in the green as the US Treasury secretary selection caused a downward movement in the dollar and bond yields.
The much-awaited IPO of NTPC Green Energy is set to be finalised today, with allotment messages being sent to investors. The grey market premium has seen a slight increase over the weekend, with the stock currently trading at a premium of 2.78%. The listing date is scheduled for November 27 and interested investors can check the official IPO allotment status on various platforms such as BSE, NSE, and Kfin Technologies. Additionally, the allotment status can also be checked easily by following certain steps.
In a highly anticipated match for a spot in World Test Championship final, India faces off against Australia with both teams facing their own set of challenges. India comes into the match without captain Rohit Sharma and Shubman Gill while Australia will be missing all-rounder Cameron Green. Debutants Nitish Reddy and Harshit Rana are set to don the Indian jersey, with Ravichandran Ashwin and Ravindra Jadeja benched in favour of Washington Sundar. Follow live updates of the match below.
The Adani Group, a major Indian conglomerate, faced a devastating blow on Thursday as its stock prices plunged by as much as 20% following the indictment of its founder and chairman, Gautam Adani. Adani and seven other individuals were charged with paying over $250 million in bribes to Indian government officials in order to secure lucrative solar energy contracts. The fallout from the scandal has also impacted other stocks in Adani's portfolio, including Adani Green Energy and Adani Total Gas. Stay updated on this developing story with Zee Business's comprehensive coverage on various platforms.
The renewable energy subsidiary of NTPC, a listed public sector undertaking, is set to go public with its IPO in November. The company has set a price band of ₹102 to ₹108 per share and is solely looking to raise ₹10,000 crore for its expansion plans. This IPO will have no offer for sale component, making it an entirely fresh issue for investors.
As India aims to increase its use of renewable energy sources and reduce its carbon footprint, they seek collaboration with Germany and other international partners. NTPC Green Energy and Adani Green have already announced major investments in solar and wind projects, with potential for more growth in the future. Other notable developments in India's renewable energy push include Adani's impressive progress and ONGC's new appointment. With these efforts, India and its partners are primed to lead the way in green energy.
The initial public offering of NTPC Green Energy IPO has been highly anticipated, but market observers are reporting a lack of interest from investors. The company's grey market premium has remained low at only 0.93% over the IPO's upper price band, signaling a lack of enthusiasm, especially from non-institutional investors. This is a stark contrast to the high GMP observed in the past, showcasing how steep pricing can impact investor interest. However, shareholders of NTPC Ltd have an advantage, with a 10% quota reserved for them in the IPO.
The highly anticipated Initial Public Offering (IPO) of NTPC Green Energy Ltd (NGEL) is opening on November 19, with analysts recommending investors to subscribe at the cut-off price for long-term gains. While the company shows potential for robust growth, there are also risks to consider, such as its dependence on imported components without long-term contracts and its concentration of projects in Rajasthan. With NTPC Ltd's ambitious plans to increase its renewable energy capacity, NGEL's geographically diversified operations make it a key player in achieving this goal.