Top news this week: Adani-Hindenburg SC verdict, India’s GDP projection for FY24, and more

Here are top news of the week between 24 to 30 December that made headlines: Adani Hindenburg Case Verdict: SC refuses to transfer probe from SEBI to SIT In a blow to petitioners, the apex court dismissed reliance on a third-party report and affirmed faith in SEBI’s handling of the case. The Government of India and the SEBI are to look into whether there is any infraction of law by the Hindenburg report on short selling and if so, take action following the law, according to the judgement. Reliance and Disney initiate antitrust examination for media merger in India Billionaire Mukesh Ambani’s Reliance Industries (RELI.

NS) and Walt Disney (DIS. N) have engaged law firms and initiated antitrust due diligence for their proposed merger in the Indian media and entertainment sector, according to four individuals with knowledge of the situation. GDP growth at 7.

3% in govt’s crystal ball Aided by sustained investment growth and robust output in manufacturing, construction and certain services, India’s economy may grow at 7. 3% in FY24, the government’s first advance estimates showed, higher than the central bank’s upwardly revised estimate of 7%. India’s services growth at three-month high in December The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P, rose to 59 in December, up from 56.

9 in the month prior. The figure had stood at 58. 4 in October.

Jio Financial-BlackRock applies for mutual fund licence with SEBI The joint venture between Jio Financial Services and BlackRock has applied for a mutual fund licence with the market regulator, and the application is currently under consideration, according to a Securities and Exchange Board of India (SEBI) update. Jyoti CNC Automation IPO opens next week. GMP, price, other details The initial public offering (IPO) of Jyoti CNC Automation Ltd is going to hit the primary market on 9th January 2024 i.

e. on Tuesday next week. Flipkart co-founder Binny Bansal launches new startup OppDoor: Know details Flipkart co-founder Binny Bansal has reportedly launched his new startup to provide end-to-end solutions to e-commerce firms.

Bansal had parted ways with Flipkart following its acquisition by Walmart in 2018. It is the first time he has come up with his venture after leaving Flipkart. Mobikwik files for 700 cr IPO Payments business One MobiKwik Systems Ltd has filed its draft papers with the Securities Exchange Board of India (Sebi) to raise 700 crore in an initial public offering (IPO).

Mobikwik is also aiming to raise 140 crore in a pre-IPO placement, which if successful will reduce the issue size appropriately. HUL hit with 447. 5 crore GST demands and penalties Hindustan Unilever Ltd on Monday said it has received Goods and Services Tax demands and penalties totalling 447.

5 crore from the authorities. Gautam Adani richest Indian, overtakes Mukesh Ambani for the 12th spot Gautam Adani, Chairperson of the Adani Group of companies has overtaken Reliance Industries Chairman Mukesh Ambani on the Bloomberg Billionaire’s Index (BBI), to become India’s and Asia’s richest man. US judge begins to unseal Jeffrey Epstein’s contacts A New York judge on Wednesday started the process of revealing the identities of individuals associated with Jeffrey Epstein, the American financier who died by suicide in 2019 while awaiting trial for sex crimes.

shatters records with New Year’s Eve delivery milestone Food delivery giant Zomato celebrated a triumphant New Year’s Eve, recording a staggering surge in orders that dwarfs past years. CEO Deepinder Goyal took to social media to share the incredible feat, stating, “Fun fact: We’ve delivered almost as many orders on NYE 23 as we did on NYE 15, 16, 17, 18, 19, 20 combined Excited about the future!” Seven lessors agree to carry maintenance of Go First aircraft: RP to court Go First’s resolution professional informed the Delhi High Court on Friday that seven out of 14 lessors to the bankrupt airline had agreed to carry out maintenance of parked aircraft through a third party agency. Brookfield to buy American Tower Corp’s India business for $2 bn Brookfield Asset Management on Friday said it will acquire the Indian business of American Tower Corporation (ATC India) for $2 billion as it looks to expand its portfolio of telecommunication services.

IndiGo waives fuel charges following ATF price cuts IndiGo on Thursday announced that it has removed fuel charges from all domestic and international flights with immediate effect. Apple faces second downgrade this week as iPhone performance concerns intensify Apple Inc. , already positioned as the least-favored among major tech stocks on Wall Street, faces heightened concerns about iPhone sales that have prompted a second downgrade this week, solidifying analysts’ prudent stance, according to a report by Bloomberg.

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