This week in the Indian business world, we witnessed a flurry of activity across various sectors, from the stock market to corporate governance. The Adani Group’s stocks soared, reflecting investor confidence amid legal proceedings. In the corporate realm, significant developments unfolded, including the much-anticipated listing of Tata Technologies. The week also saw the passing of investment legend Charlie Munger, leaving a lasting impact on the financial community. Amidst these developments, Google tightened its policy on deepfakes, and Raymond’s boardroom battle intensified. Additionally, the Reserve Bank of India confirmed the legal tender status of ₹2000 banknotes.
Adani Group Stocks on the Rise: The Adani Group’s stocks experienced a significant surge, with Adani Total Gas Limited leading the pack with a 32.20% weekly gain. This positive trend was observed across several group stocks, including Adani Enterprises Limited and Adani Green Energy Limited. The Supreme Court’s recent stance on the allegations of accounting fraud and stock manipulation against the Adani Group seems to have played a crucial role in boosting investor confidence Read the full articles here and here.
Tata Technologies’ Impressive Listing: Tata Technologies made a strong debut on the stock market, listing at a 140% premium. The IPO marked a significant milestone for the Tata Group, being its first public offering in over 19 years Read the full article here.
Charlie Munger’s Legacy: The business and investment world mourns the loss of Charlie Munger, a legendary investor and Warren Buffett’s long-time confidant, who passed away at the age of 99. Munger’s investment philosophy and wisdom profoundly influenced many investors and entrepreneurs. Indian business leaders and financial experts, including Nithin Kamath, CEO of Zerodha, and renowned investor Anand Sridharan, shared their admiration and respect for Munger’s contributions. His principles, emphasizing simplicity, passion, integrity, and rationality, have left an
Raymond’s Boardroom Battle: Raymond Ltd is facing a high-stakes corporate battle as Institutional Investor Advisory Services (IiAS) recommended an investigation into serious allegations against group Chairman and Managing Director Gautam Singhania. The company’s independent directors have taken measures to ensure the dispute does not impact the company's affairs Read the full articles here and here.
Google’s Deepfake Policy: Google is developing a policy to guide creators on the responsible use of AI-generated content and how to prevent its misuse, especially on platforms like YouTube Read the full article here.
RBI’s Confirmation on ₹2000 Banknotes: The Reserve Bank of India has confirmed that ₹2000 banknotes will remain legal tender, despite the significant reabsorption of these notes by the banking system Read the full article here.
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