The Supreme Court-appointed Expert Committee has given a clean chit to the Adani Group, stating that there is no evidence of price manipulation, violation of related party transaction norms, or non-disclosure of foreign portfolio investment (FPI) by the group. The Expert Committee was appointed by the Supreme Court in 2022 to investigate allegations of wrongdoing by the Adani Group. The committee was headed by former Supreme Court judge Justice RV Raveendran and had two other members, former RBI deputy governor Rakesh Mohan, and former SEBI chairman CB Bhave. The committee submitted its report to the Supreme Court on May 18, 2023. The report found no evidence of price manipulation, related party transaction norms violation, or non-disclosure of FPI by the Adani Group. The report stated that the Adani Group has been a major contributor to the Indian economy and has played a significant role in the country's growth. The report also stated that the Adani Group has complied with all ap...

Varun Beverages, the largest bottler of Coca-Cola in India, hit a record high of Rs 1555 on May 12, 2023. The stock has risen by more than 100% in the past one year. There are a number of factors that have contributed to this rally, including: Strong growth in the Indian beverage market Varun Beverages' dominant position in the Indian market The company's focus on innovation and new product launches Strong financial performance Strong growth in the Indian beverage market The Indian beverage market is growing at a rapid pace, driven by factors such as rising incomes, changing lifestyles, and increasing urbanization. Varun Beverages is well-positioned to benefit from this growth, as it has a strong distribution network and a wide range of products that appeal to a variety of consumers. Dominant position in the Indian market Varun Beverages is the largest bottler of Coca-Cola in India. It has a dominant position in the Indian market, with a market share of over 50%. Th...

Nifty Expected to Trade Between 18170 to 18360 Today 10th May 2023; US Core Inflation Data in Focus The Indian stock market is likely to witness a range-bound trading session today 10th May 2023, as investors await the US core inflation data for April, which will be released in the evening. The NSE Nifty 50 index, which closed at 18,089.85 yesterday, is expected to trade between 18170 and 18360 today, according to technical analysts. The US core inflation data, which excludes food and energy prices, is a key indicator of the inflationary pressures in the world’s largest economy and has a significant impact on the global market sentiment. The data is also closely watched by the US Federal Reserve, which has recently signaled that it may start tapering its bond-buying program sooner than expected and may hike interest rates next year if inflation persists. The consensus estimate for the US core inflation data for April is 5.6% year-on-year, unchanged from the previous month, ...

Pennar Industries, a leading value-added engineering products and solutions company, has announced that it has bagged orders worth Rs 628 crore across its various business verticals. The orders have been received during the month of May 2023 and are expected to be executed within the next two quarters. The company has won orders for its business verticals of Inland Container Depot (ICD), Pre-Engineered Buildings (PEB), Railways, Steel, Tubes, and Ascent Buildings, USA . Some of the prominent customers who have placed orders with Pennar Industries include Tata Steel, Ashok Leyland, Hindalco, Tata Power, and Kirloskar Toyota, among others. Pennar Industries has been consistently delivering high-quality products and services to its clients across various sectors. The company has a strong presence in the domestic and international markets, with a diversified portfolio of products and solutions. Pennar Industries has also been investing in innovation and technology to enhance i...