GAGA Share Market News

[hfe_template id='11223'] [ad_1] India’s top four billionaires—Mukesh Ambani, Gautam Adani, Savitri Jindal & family, and Shiv Nadar—saw their combined net worth fall by $10.3 billion on Monday, according to Forbes’ real-time billionaire list, as markets witnessed a sharp selloff. Mukesh Ambani, India’s richest individual, suffered the biggest hit with his wealth dropping by $3.6 billion to $87.7 billion. Gautam Adani, the second-richest Indian, saw a $3 billion decline, bringing his total net worth down to $57.3 billion. Savitri Jindal & family, ranked third in India and 45th globally, lost $2.2 billion as their net worth fell to $33.9 billion. Shiv Nadar also saw his fortune drop by $1.5 billion, settling at $30.9 billion. The sharp drop in billionaire wealth came as Indian benchmark indices plunged, mirroring global market weakness sparked by escalating trade tensions and recession fears in the US. The Sensex tanked over 3,900 points, while the Nifty fell below...

[hfe_template id='11223'] [ad_1] The shares of Mishtann Foods have gone down by nearly 10% to day’s low of Rs 8.95 on BSE after Sebi barred five entities, including the company, its promoter and CMD Hiteshkumar Gaurishankar Patel from the securities market till further orders for alleged financial mismanagement, fraudulent transactions, and corporate governance lapses. Sebi said Mishtann Foods engaged in circular trading with fictitious buyers and suppliers, many of which were shell entities controlled by the company’s directors and their associates. “These transactions inflated the company’s financial performance on paper, misleading investors and regulators," Sebi said in its order. Sebi's investigation revealed that the company engaged in circular trading with fictitious buyers and suppliers, many of whom were shell entities controlled by its directors and associates. These actions reportedly inflated Mishtann Foods’ financial performance, misleading investor...

[hfe_template id='11223'] [ad_1] By selling Indian stocks worth nearly Rs 25,600 crore last month, foreign institutional investors (FIIs) followed the old Wall Street adage of 'Sell in May and go away'. FIIs have dramatically increased their net shorts positions in index futures from 5,000 contracts on May 29 to 3.18 lakh on May 31. "The main trigger for the FPI selling has been the outperformance of the Chinese stocks. The Hang Seng index boomed 8 % in the first half of May triggering selling in India and buying in Chinese stocks. Another reason was the spike in US bond yields. Whenever the US 10-year bond yields rose above 4.5 % FPIs sold in emerging markets like India and moved money to bonds," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. The FII sell-off is also being attributed to the relatively high valuations and weak earnings, particularly in the financial and IT sectors where foreign investors have a high alloca...