Highlights

  • Asian indices started the new week in the green
  • Indian equities ended the day almost unchanged
  • Adani Group stocks ended the day in the red

Latest news

Dominique Pelicot sentenced to 20 years in landmark French mass rape case

Dominique Pelicot sentenced to 20 years in landmark French mass rape case

PM Modi speaks to King Charles, reaffirms India-UK strategic partnership

PM Modi speaks to King Charles, reaffirms India-UK strategic partnership

Omar Abdullah meets Amit Shah, discusses J&K's statehood restoration

Omar Abdullah meets Amit Shah, discusses J&K's statehood restoration

Unprecedented fracas on Parliament premises, 2 BJP MPs injured; NDA, Congress file police complaints

Unprecedented fracas on Parliament premises, 2 BJP MPs injured; NDA, Congress file police complaints

Palestinians say six killed in Israeli West Bank operations

Palestinians say six killed in Israeli West Bank operations

Around 70 Hindu pilgrims arrive in Pak from India to perform religious rituals at Katas Raj temples

Around 70 Hindu pilgrims arrive in Pak from India to perform religious rituals at Katas Raj temples

Delhi Elections: MCD passes proposal to release Rs 25.35 crore for preparations

Delhi Elections: MCD passes proposal to release Rs 25.35 crore for preparations

Global stocks struggle amid inflation, economic fears: December 19, 2024 analysis

Global stocks struggle amid inflation, economic fears: December 19, 2024 analysis

News Wrap | Sensex & Nifty Flat, Bharti's BT Group Deal, Adani-Hindenburg Row | 12.08.24

In the startup space, OYO founder Ritesh Agarwal has invested 830 crore rupees into the company through his Singapore-based entity, Patient Capital

News Wrap | Sensex & Nifty Flat, Bharti's BT Group Deal, Adani-Hindenburg Row | 12.08.24

Good evening, and welcome to Business Hook’s daily news podcast, where we bring you a roundup of the day’s top business stories.

First, let’s take a quick look at the Asian markets. After last week’s roller-coaster ride, most Asian indices started the new week in the green. Korea’s Kospi was up over one percent, while Japan’s Nikkei gained half a percent. However, China’s Shanghai Composite closed marginally in the red.

Back home, Indian equities ended the day almost unchanged. Both the Sensex and the Nifty were flat, with the Nifty closing above 24,300. Out of the fifty Nifty stocks, 30 declined, 19 gained and one remained unchanged. Oil and gas major ONGC was the star of the trade, up around three percent. NTPC and Adani Ports were the biggest laggards, down over two percent each.

On the deal street, Bharti Global, the international investment arm of Bharti Enterprises, announced it will acquire a 24.5 percent stake in Britain’s largest telecom company, BT Group. Bharti will purchase the stake from Altice UK, BT Group’s largest shareholder, for four billion dollars. This transaction will make Bharti Global the largest stakeholder in BT Group. It’s worth noting that in 1997, BT had invested in Bharti Airtel. Bharti’s shares ended the day flat.

In stock-specific action, most Adani Group stocks ended the day in the red. This followed allegations from the U.S. short-seller firm Hindenburg Research, accusing SEBI chief Madhabi Puri Buch and her husband of past investments in offshore funds that were also used by the Adani Group. However, Madhabi Puri Buch refuted the claims, calling them "baseless" and "malicious."

In the startup space, OYO founder Ritesh Agarwal has invested 830 crore rupees into the company through his Singapore-based entity, Patient Capital. According to sources quoted by PTI, this investment is part of OYO's latest funding round, which raised 1,457 crore rupees. This will increase Agarwal's stake from 30 percent to 32.5 percent.

ADVERTISEMENT

Up Next

News Wrap | Sensex & Nifty Flat, Bharti's BT Group Deal, Adani-Hindenburg Row | 12.08.24

News Wrap | Sensex & Nifty Flat, Bharti's BT Group Deal, Adani-Hindenburg Row | 12.08.24

India's electric vehicle market to reach Rs 20 lakh crore by 2030, says Nitin Gadkari

India's electric vehicle market to reach Rs 20 lakh crore by 2030, says Nitin Gadkari

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

UK PM Keir Starmer hosts Indian business chiefs to boost investments

UK PM Keir Starmer hosts Indian business chiefs to boost investments

Bangladesh Government Plans to Renegotiate Power Deal with Adani Power, Citing Unfair Terms

Bangladesh Government Plans to Renegotiate Power Deal with Adani Power, Citing Unfair Terms

New Zealand falls into recession with abrupt economic slowdown

New Zealand falls into recession with abrupt economic slowdown

ADVERTISEMENT

editorji-whatsApp

More videos

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.