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Adani Gas crashes 14% on report of gas regulator's notice on non-disclosure
Posted on 24th January 2020
Shares of Adani Gas slipped 14 per cent to Rs 148 on the BSE in Friday's session on reports that Petroleum and Natural Gas Regulatory Board of India (PNGRB) has sent a notice to the company for failing to disclose crucial information regarding a scheme of arrangement with Adani Enterprises.

According to the report by TV channel CNBC Awaaz, Adani Gas has bid for gas projects using networth calculations of Adani Enterprises and that the company’s shareholding changes and restructuring violated city gas distribution regulations.

As such, regulator PNGRB is seeking to cancel the company’s licences and levy Rs 400 crore penalty for the violations, the report said.

The company later told the TV channel it had responded to PNGRB "with all required information to close the matter".

"We are fully compliant and have transparently represented facts... All concerned authorities were intimated about reorganisation of company," the channel quoted representatives of Adani Gas as saying.

At 10 AM, the stock had pared more than half of its losses and was trading 6 per cent lower at Rs 163 as compared to 0.2 per cent gain in the benchmark S&P BSE Sensex. Around 6 million shares have changed hands on the NSE and BSE so far.

Other Adani Group stocks also declined in intra-day trade today. Adani Enterprises (down 5 per cent to Rs 219), Adani Green Energy (down 5 per cent to Rs 183), Adani power (down 1 per cent o Rs 62.60), Adani transmission (down 1.72 per cent to Rs 327), Adani Ports (down 1.4 per cent at Rs 380.50) on the BSE.

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Indian CEOs need to build their own inclusive tech solutions: Nadella
Posted on 24th February 2020

Microsoft chief executive Satya Nadella on Monday urged Indian business leaders to build technology capabilities that are inclusive in nature.

Beginning his three-day visit to India, Nadella was addressing Microsoft's Future Decoded CEO Summit here.


TCS, DLF seek govt nod to set up IT SEZs in Haryana, Uttar Pradesh
Posted on 24th February 2020

Software firm TCS and realty major DLF have sought government nod to set up special economic zones (SEZ) for IT sector in Haryana and Uttar Pradesh.

These proposals will be taken up by the Board of Approval, the highest decision-making body for SEZ, in its meeting on February 26 here. The inter-ministerial body is chaired by the commerce secretary.


Maruti launches petrol version of Vitara Brezza, priced at Rs 7.34 lakh
Posted on 24th February 2020

The country's largest carmaker Maruti Suzuki India on Monday launched the petrol version of its popular compact SUV Vitara Brezza priced between Rs 7.34 lakh and Rs 11.4 lakh (ex-showroom Delhi).

The BS-VI petrol Vitara Brezza is powered by 1.5 litre K-series engine with 5-speed manual and automatic transmission options with smart hybrid, the company said in a statement.


Hero MotoCorp shares slip to over 5-year low, tumble 12% in February
Posted on 24th February 2020
Shares of Hero MotoCorp (HMCL) slipped 2 per cent intra-day to hit an over five-year low of Rs 2,192 on the BSE on Monday amid concerns that the volume weakness might continue in the next 2-3 quarters due to inventory correction with dealers and notable price increases as a result of the BSVI transition. The two-wheeler major's stock was trading at its lowest level since May 2014.

Malaysia PM Mahathir Mohamad submits resignation to king amid turmoil
Posted on 24th February 2020

Malaysian Prime Minister Mahathir Mohamad, at 94 the world's oldest leader, submitted his resignation to the king Monday after a bid by his allies to bring down the government and block the succession of leader-in-waiting Anwar Ibrahim.

The shock move followed 24 hours of political drama which saw an attempt by Anwar's rivals within his own Pact of Hope coalition, which stormed to a historic election victory in 2018, and opposition politicians to form a new government.


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