The rebound suggests the conglomerate, once termed "deeply overleveraged" by research firm CreditSights, is finding favor with investors again

Image: Bloomberg

Bloomberg

Ahuja was appointed as MD and CEO in May 2018. Manu Ahuja was an alumnus of XLRI Jamshedpur and Thapar Institute of Engineering, Patiala

Manu Ahuja

Business Standard

Foreign portfolio investors (FPIs) injected Rs 26,505 crore into the Indian equity markets in the first six trading sessions of this month on expectations of political stability after the BJP stormed to power in three major states and robust economic growth.
This came following a net investment of Rs 9,000 crore in October. Before this, overseas investors withdrew 39,300 crore in August and September, data with the depositories showed.
Going forward, FPI inflows are likely to continue, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data, FPIs made a net investment of Rs 26,505 crore in Indian equities in this month (till December 8).
Kislay Upadhyay, the founder of FidelFolio Investments, attributed the FPI inflows to the outcome of major state elections that signalled political stability going forward..
"The indication of political stability after the 2024 General elections, strong growth momentum in the Indian economy, inflation

Press Trust of India

A constitution bench has reviewed the challenge to the abrogation of Article 370, exploring the constitutionality of the process and its impact on Jammu and Kashmir's special privileges

Supreme Court, Manipur violence

The combined market valuation of seven of the 10 most valued firms climbed Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities.
Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44 per cent, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80.
HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation.
HDFC Bank's valuation soared by Rs 74,076.15 crore to Rs 12,54,664.74 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India jumped by Rs 65,558.6 crore to Rs 4,89,428.32 crore at close on Friday. LIC had reclaimed the Rs 5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday.
However, at cl

HDFC Bank

Here is the best of Business Standard's opinion pieces for today

OpenAI, artificial intelligence

Former President Donald Trump is appealing a ruling that found he is not immune from criminal prosecution as he runs out of time to delay or even derail an upcoming trial on charges that he plotted to overturn the results of the 2020 election.
Lawyers for the 2024 Republican presidential primary frontrunner filed a notice of appeal Thursday indicating that they will challenge US District Judge Tanya Chutkan's decision rejecting Trump's bid to derail the case headed to trial in Washington, DC, in March. The one-page filing was accompanied by a request from the Trump team to put the case on pause so the appeals court can take up the matter.
The filing of President Trump's notice of appeal has deprived this Court of jurisdiction over this case in its entirety pending resolution of the appeal, Trump's lawyers wrote. Therefore, a stay of all further proceedings is mandatory and automatic.
The appeal had been expected given that Trump's lawyers had earlier signalled their plans to pursue 

Donald Trump

The market size for global semiconductor memory was valued at $104.58 billion in 2022 and the worldwide semiconductor memory market is expected to touch $201.91 billion by 2032

Anand Ramamoorthy, MD, Micron Technology India

Former Prime Minister Boris Johnson, in sometimes angry testimony to Britain's inquiry into the COVID-19 pandemic, on Thursday defended himself against suggestions that his indifference and failure to heed the advice of scientists led to thousands of unnecessary deaths.
In a second day of sworn testimony, Johnson rejected claims that he was prepared to let older people die to protect the economy and that he was too slow to order a second national lockdown as infection rates began to rise in the autumn of 2020.
Johnson, who left parliament after he was found to have misled lawmakers about lockdown-breaking parties during his premiership, said he learned about the horrors of COVID-19 firsthand when he was hospitalised with the disease in March 2020. In the intensive care unit, Johnson said he was surrounded not by elderly people but by middle-aged men like himself.
I knew from that experience what an appalling disease this is. I had absolutely no personal doubt about that from March .

UK PM Boris Johnson said his country has raised the Ukraine war issue with his PM Modi at diplomatic levels and maintained everybody understands India and Russia shared "very different relationships historically". (Photo: Twitter/@ANI)

Boris Johnson in Gujarat

Karnataka Chief Minister Siddaramaiah on Thursday said Kannada and English along with Maths and science will be taught for two years on an experimental basis in the registered madrasas for two years.
"Children studying in waqf properties and registered madrasas run by waqf institutions will be taught continuously for two years in Kannada, English, Science, Mathematics on an experimental basis and other subjects and will be made to write SSLC, PUC and graduation exams through National Open Schools. An order has already been issued in this regard," Siddaramaiah wrote on X.
The CM made the announcement sharing the message of Revenue Minister Krishna Byre Gowda, according to which, the initiative will be carried out first in 100 madrasas.

Siddaramaiah

The 14-year political journey of TMC leader Mahua Moitra has encountered both upheaval and elevation, as her expulsion from Parliament in a cash-for-query case marked the culmination of her tumultuous parliamentary term.
Despite the abrupt brakes to her parliamentary career for the time being, the opposition's unwavering support painted a contrasting picture, underscoring Moitra's enduring impact in present-day Indian politics.
Moitra, a first-time MP representing Krishnanagar Lok Sabha seat, found herself expelled from the Lok Sabha on Friday.
The Ethics Committee's report, holding her accountable for accepting gifts and illegal gratification, paved the way for her expulsion.
Following a contentious debate where Moitra was denied the opportunity to speak, Parliamentary Affairs Minister Pralhad Joshi proposed a motion to expel the Trinamool member for "unethical conduct," a motion that was adopted through a voice vote.
In response to her expulsion, Moitra strongly criticised the .

Mahua Moitra

The point is that businessmen look to prosper; what they seek to minimise is uncertainty, which denotes risk. Beyond that they are politically agnostic, writes T N Ninan

Modi, narendra modi, BJP

RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%

RBI Governor Shaktikanta Das kept the repo rate unchaged on friday but raised GDP projections

Technology transfer and finance for low-carbon transition of hard to abate sectors like iron, steel, cement, and transport remains a challenge, Environment Minister Bhupender Yadav said at the UN climate talks on Sunday.
Addressing an event, he said the global industrial landscape has seen a significant shift since the launch of LeadIT, an initiative focusing on low-carbon industrial, in 2019.
"However, the real transition challenges of technology transfer and finance are yet to be addressed," he said.
Yadav emphasised collaborative international mechanisms to tackle challenges, particularly barriers like intellectual property rights for technology transfer.
He described the India-Sweden LeadIT partnership as an alliance to address the climate crisis and harmonise industries with the environment.
The minister encouraged stakeholders to collaborate on innovation, technology, and collaboration to build a sustainable, inclusive industry for the future.
Swedish Minister of Climate an

Environment Minister Bhupender Yadav

Our policymakers may take note of the recommendations and fine-tune our policies

World Trade Organisation, WTO

A help desk dedicated to coaching students received 373 complaints in two months since its launch here in September and those suffering from depression were provided professional counselling and medical help, officials said.
Several steps were taken by the Kota administration in September following a spurt in alleged suicides by Joint Entrance Exam (JEE) and NEET aspirants studying at the coaching centres here.
Among the various measures taken to ensure a stress-free environment, students in coaching centres were exempted from routine tests for around a month and noted motivational speakers conducted sessions with students.
Officials said the the Students' Help Desk is constantly been working with JEE and NEET aspirants in informal ways while identifying cases that are of concern.
Of the total 373 complaints received in September and October, 35 were related to stress and depression, which were addressed by professional counsellors, ASP Chandrasheel Thakur told PTI.
Other complain

student, studying, education, college, kota

The cash seizure in the income-tax department's searches against an Odisha-based distillery company, owned by a Congress MP's family, has been calculated at Rs 351 crore after five days of counting and is the "highest-ever" haul in a single action by any probe agency in the country, official sources said on Sunday.
The premises of the Congress Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu, in Ranchi and other places, were also covered during the searches by the department. The company and the member of Parliament did not respond to PTI's queries regarding the action being carried out against them.
The marathon raids against Boudh Distillery Private Limited, its promoters and others entered the fifth day on Sunday. The raids were launched on December 6 by the taxman on charges of tax evasion and "off-the-book" transactions.
The sources told PTI that Rs 351 crore cash has been counted and the process has ended.
The counting involved nine teams of about 80 people from the tax ...

Congress MP candidate Dheeraj Sahu

More than $3 billion in climate finance has been pledged for food and agriculture

climate finance

Draft paper lists adaptation targets for 2030 but disagreement lingers

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WTO's trade policy toolkit for climate action

Kota suicides: Help desk gets over 350 complaints, counselling offered

Rs 351 crore cash haul in I-T raids against biz group linked to Cong MP

COP28 summit: The money food badly needs for climate fight is rolling in

Work faster, be flexible: 11th-hourr push for fossil fuel deal at COP28

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Adani's bond rebound almost erase losses incurred from Hindenburg report

Manu Ahuja, MD &CEO of Jubilant Agri and Consumer Products, passes away

FPIs invest Rs 26,505 cr in equities in first six sessions of December

All you need to know about Article 370 before SC's verdict on Monday

M-cap of 7 most valued cos add Rs 3.04 trn; HDFC Bank, LIC biggest gainers

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