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Adani hires Grant Thornton for audits after Hindenburg fallout: Report

Adani hires Grant Thornton for audits after Hindenburg fallout: Report

India's Adani Group has appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds, two people familiar with the matter said on Monday.

The appointment marks the first major effort by Adani Group to defend itself in the wake of a Jan. 24 report by Hindenburg that accused it of improper use of offshore tax havens and stock manipulation.

Start-up InsuranceDekho raises $150 mn in funding for expanding business

Start-up InsuranceDekho raises $150 mn in funding for expanding business

InsuranceDekho has raised $150 million in funding comprising equity and debt, making the deal the largest series A round by an Indian insurance technology company.

The equity round was led by Goldman Sachs Asset Management and TVS Capital Funds, with participation from Investcorp, Avataar Ventures and LeapFrog Investments.

Power does not remain with anyone forever, says NCP leader Ajit Pawar

Power does not remain with anyone forever, says NCP leader Ajit Pawar

National Congress Party (NCP) leader Ajit Pawar claimed on Sunday that Maharashtra government could fall again as court verdicts on pleas with regard to the politcal crisis in the state last year were pending.

The deputy chief minister in the previous Maha Vikas Aghadi (MVA) government, Pawar said power has a way of changing hands as the status doesn't remain the same forever.

HAL hands over advanced light helicopter to Mauritius ahead of schedule

HAL hands over advanced light helicopter to Mauritius ahead of schedule

The event will showcase multiple variants of the indigenous air platforms like Light Combat Aircraft (LCA)-Tejas, HTT-40, Dornier Light Utility Helicopter (LUH), Light Combat Helicopter (LCH) and Advanced Light Helicopter (ALH)," the Prime Minister's Office (PMO) said in a statement.

Earlier, on Friday, Hindustan Aeronautics Limited (HAL) handed over the advanced light helicopter mark-3 (ALH-Mk3) to Mauritius Police Force, reported Le Metinal.HAL director-operations EP Jayadeva, at the event, said this order is in line with the Union government's vision to boost defence exports to friendly foreign countries, according to Le Metinal.

DBS says not concerned about exposure to Adani group amid Hindenburg rout

DBS says not concerned about exposure to Adani group amid Hindenburg rout

DBS Group has a tightly managed exposure to India's Adani group of companies, the chief executive of Southeast Asia's largest bank said on Monday.

DBS was among a group of banks which provided finance to Adani's $10.5 billion acquisition of Holcim's cement business in India last year. The Singapore bank provided financing of about S$1 billion ($751 million).

Infosys Foundation partners with Karnataka govt, rebuilds 100-bed hospital

Infosys Foundation partners with Karnataka govt, rebuilds 100-bed hospital

Infosys Foundation, the philanthropic and CSR arm of Infosys, has announced the inauguration of a 100-bed maternity and child care hospital in Kanakapura Taluk, Ramanagara district of Karnataka in collaboration with the Directorate of Health and Family Welfare Services, the official release on Monday stated.

Through this collaboration, the erstwhile Government Maternity Hospital in Kanakapura Taluk has been rebuilt and the new hospital has facilities, including oxygen and medical gas pipelines, a sophisticated fire protection alarm system, meticulously designed electrical and plumbing work, an HVAC system and underground water reservoir.

Vodafone Idea in talks with banks to refinance Rs 3-4k crore loans

Vodafone Idea in talks with banks to refinance Rs 3-4k crore loans

Vodafone Idea (Vi) has initiated talks with Indian banks like the State Bank of India (SBI), Punjab National Bank (PNB) and HDFC Bank to refinance loans of Rs 3,000-4,000 crore, the Economic Times (ET) reported quoting bankers aware of the development.

This is expected to free up some cash for the telco, which needs to pay urgently to Indus Towers, Nokia and Ericsson.

Hindenburg effect: Adani Group cuts revenue growth target, capex amid rout

Hindenburg effect: Adani Group cuts revenue growth target, capex amid rout

Gautam Adani’s conglomerate has halved its revenue growth target and plans to hold off fresh capital expenditure, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a bruising short seller attack.

The group will now shoot for revenue growth of 15% to 20% for at least the next financial year, down from the 40% growth originally targeted, said the people, who didn’t want to be named as the discussions are private.

Death toll from devastating earthquakes in Turkey, Syria crosses 24,000

Death toll from devastating earthquakes in Turkey, Syria crosses 24,000

Rescuers pulled out children on Friday (local time) from the rubble of the Turkey-Syria earthquake as the toll crossed 24,000, reported The Sydney Morning Herald (SMH).

The confirmed death toll from the deadliest quake in the region in two decades stood at more than 24,000 across southern Turkey and northwest Syria four days after it hit.

UP transformed into Uttam State for investments under CM Yogi: Kishan Reddy

UP transformed into Uttam State for investments under CM Yogi: Kishan Reddy

Union Minister for Tourism G Kishan Reddy on Friday said that Uttar Pradesh has transformed itself into 'Uttam State' for investments under the visionary leadership of Chief Minister Yogi Adityanath.

"I urge all the investors to contribute immensely for the development of the state having 'big ambitions' that is also taking 'big actions," said the Union Minister.

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