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Hum Adani ke hain kaun’: Congress questions PM Modi’s silence on Adani Group stock rout

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Here you buy Gold units exactly like you buy any other units – in small nibbling through Systematic Investment Plans and/or in bulk. The second question delved into the PM’s earlier promise of “cracking down on illicit flow of black money”. The Congress pointed out that the Adani Group was alleged to have manipulated stock prices by using offshore shell companies and related parties which posed as investments funds to bypass SEBI regulations. This was an issue that Rahul Gandhi had raised in Parliament as well. The Congress is persisting with its attack on the government weeks after Adani Group stocks took a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation.

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Congress general secretary Jairam Ramesh posed a set of three questions to Prime Minister Narendra Modi as part of the party’s “HAHK ” series to target the government in the wake of the fraud-allegation-triggered rout in Adani Group company stocks. The Congress on Saturday alleged that the government has granted “monopolies” to the Adani Group, allowing it to “fleece” consumers who need to use essential infrastructure services such as airports and electricity. The opposition party also said that persistent demand for a JPC on the Adani issue was not to embarrass Prime Minister Narendra Modi but to unravel its full dimensions. Sector funds, the riskiest among equity funds which invest only in stocks of a specific industry or a particular theme. Last but not the least, mutual funds offer significant tax advantages like tax-free dividends, capital gains taxation and benefits under Section 88 through tax-saving schemes and pension.

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The Congress also alluded that Modi and his government pressured SEBI not to investigate allegations of financial fraud against the Adani Group. Do you fear that a truly independent investigation might implicate you personally in the Adani Group’s wrongdoings? The party asked if the Modi government is “turning a blind eye to the fresh collusion between Parekh and Adani Group, a relationship that goes back 25 years”, given the serious allegation that Elara is a front for the Adani Group. Following the developments in the issue, the Grand Old Party has asked why no central agency has yet investigated the allegations raised against the Adani group when his brother, Vinod Adani, was named in the Panama Papers and Pandora Papers.

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“What has SEBI done to properly investigate these dubious benami companies,” the Congress leader asked. He said that on July 19, 2021, the Ministry of Finance had “admitted” to Parliament that the Adani Group was under investigation for violating SEBI regulations. Ramesh said there are serious charges of “brazen stock manipulation” against the Adani Group. Day 5’s questions come after Modi skips any mention of Gautam Adani, Hindenburg report in his two speeches in Parliament.

In the past few days, the sessions in the parliament have witnessed an uproar as the opposition parties have demanded an investigation in the case. Congress has demanded a probe monitored by the court or a joint parliamentary committee. Find Om mani padme hum stock images in HD and millions of other royalty-free stock photos, illustrations and vectors in the Shutterstock collection. Was this a crude attempt to shore up flagging Adani share prices, Ramesh asked.

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Investments in securities market are subject to market risk, read all the related documents carefully before investing. “KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” The price-earnings ratio is a company’s share price to the company’s Earnings per Share. The ratio is used for evaluating companies and to find out whether they are overvalued or undervalued. The book value of a stock is theoretically the amount of money that would be paid to shareholders if the company was liquidated and paid off all of its liabilities.

“Is it not what are the four primary forms of insurance‘s responsibility to protect investors by taking strict action?” Ramesh said. The Congress alleged on Thursday that the National Stock Exchange “failed” to take action against the embattled Adani Group and asked if there was “pressure” on the bourse and market regulator SEBI to go easy on the conglomerate. “Is it not SEBl’s responsibility to protect investors by taking strict action? Is there pressure from the Prime Minister’s Office on the NSE and SEBI to go easy on Adani in an effort to bail it out? Questioning govt’s silence, Congress alleged that one of close relatives of convicted stockbroker Parekh has worked with Elara Capital, whose 99% fund is invested in Adani stocks. Increased macroeconomic stability has made India’s growth rate sustainable, the finance ministry said on Tuesday but called for vigilance against risks from El Nino-triggered drought conditions, geopolitical developments and global financial turmoil.

Speaking at the https://1investing.in/ Today Conclave 2023, when Agarwal was asked if, now looking back at the acquisition of Bharat Aluminium Company in 2001, he believes that the deal had done more harm to them than god. Financial Planning & Advisory services, exclusively for the Indian Armed Forces personnel and their families. Hum Fauji Financial Services is on a mission to defend the wealth of armed forces personnel. When something holds good for two thousand years, I do not believe it can be so because of prejudice or mistaken theory. Although there is no law stating that your property will increase in value each year, it is a well documented fact that, on average, the value of a property doubles at least every seven years provided the property has been carefully selected. Once a reasonable profit is made, the investor should get out of the market quickly.

  • “Over the years you have misused agencies like the Enforcement Directorate, Central Bureau of Investigation and the Directorate of Revenue Intelligence to intimidate your political opponents and to punish business houses that do not fall in line with your cronies’ financial interests.
  • The second question delved into the PM’s earlier promise of “cracking down on illicit flow of black money”.
  • Following the developments in the issue, the Grand Old Party has asked why no central agency has yet investigated the allegations raised against the Adani group when his brother, Vinod Adani, was named in the Panama Papers and Pandora Papers.
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Some people, out of plain ignorance, tend to equate stock market to a gambling den – it can only be said that they are depriving themselves of a great investment class due to their lack of knowledge. Humana Inc share price live 524.61, this page displays NYSE HUM stock exchange data. View the HUM premarket stock price ahead of the market session or assess the after hours quote.

Former PM P.V. Narasimha Rao-led Congress government had agreed to set up a JPC in 1992 in the Harshad Mehta case, while the a JPC instituted by Atal Bihari Vajpayee-led BJP government investigated the Ketan Parekh case in 2001. Notably, the PM, during his two addresses to the Lok Sabha and Rajya Sabha last week, skipped any mention of the Adani Group, or the damning report by American short-seller Hindenburg Research. “Over the years you have misused agencies like the Enforcement Directorate, Central Bureau of Investigation and the Directorate of Revenue Intelligence to intimidate your political opponents and to punish business houses that do not fall in line with your cronies’ financial interests. The Congress party has posed three questions to the government, saying, “You and your government cannot hide from — saying Hum Adani ke Hain Kaun.” Vedanta Group chairman Anil Agarwal on Tuesday said Vedanta Resources , holding company of the mining and metals conglomerate, is well-positioned to meet its future debt obligations, and that concerns around the group being over-leveraged are misplaced. Responding to a media report which quoted senior lawyer Harish Salve as saying that the demand for a joint parliamentary committee probe was aimed at only embarrassing the Centre, Ramesh tweeted, “My friend Harish Salve with whom I worked closely as environment minister is completely wrong.

Congress said that the Adani-operated Chaudhary Charan Singh International Airport in Lucknow has proposed an “exorbitant increase” in the user development fee paid by passengers. The party also claimed that Adani Power defaulted on its power supply obligations at Rs 2.94 per unit, forcing Haryana to buy spot electricity at Rs 11.55 per unit. Bullion experts recommend that it is best to buy gold from a reputed jeweller. Banks that sell gold bars charge a premium as high as 8-20% for providing you with a ‘certificate of purity’, but they are not allowed to buy it back and the jeweller that you sell it to has no use for that certificate. If you buy from reputed jewellers, not only do they buy it back from you, they also give you the prevailing market rate for it.

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Mutual funds carry risk and offer no assured returns or protection of capital. They do not offer assured returns, nor are insured or guaranteed by any government body. Most of us have neither the skill to find good stocks that suit our risk and returns profile nor the time to track them.

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These are typically in denomination of single units, generally representing one gram of gold each. Many companies, like Reliance, Kotak, Quantum, Benchmark and UTI, are offering the same on NSE and they are bought and sold exactly like stocks. In case you wish to buy in small quantities regularly so as to build up a good gold portfolio over a period of time, Gold Mutual Funds is the best option.

While the Stock Market offers high returns, many investors have found it to be a volatile and dangerous place. Diversify your portfolio ideally into five industries and ten stocks. As a long-term investor, you shouldn’t panic when your investments experience short-term movements.

If you see this purely as an investment, you can either buy it in the form of physical gold-bars, biscuits or coins or even in a dematerialised form. The disadvantage of buying gold in the form of jewellery is that its resale is not always a profitable proposition, one cannot be sure of the purity, and handling and storing remains an issue. Bars and biscuits are better as they can easily be exchanged for cash even though while purchasing these may be priced up to 8-20% above the market value of Gold. The modern way to invest is buying dematerialised gold from a commodity exchange – it eliminates risks related to physical storage and theft, reducing paper work and facilitating easy transfer of holdings through the electronic mode. However, a very good option that has emerged now is buying the Gold Exchange Traded Funds on stock exchanges.

Ramesh alleged that the “failure” of market regulators like the Securities and Exchange Board of India to protect Indian capital markets has “tarnished” their image and put a question mark on the integrity of India’s financial markets. The Congress added that global stock indices have suspended the Adani Group companies as stock manipulation allegations are investigated, but India’s own exchanges haven’t done the same. The third question was on the inclusion of Adani Enterprises in the National Stock Exchange , asking whether the SEBI pressured the NSE to do so. It also said that the regulator thereafter also failed to protect investors by talking strict action. “Take Elara Capital, in which former Conservative Minister Jo Johnson, brother of former Prime Minister Boris Johnson, was until recently a director. Elara held some $3 billion (&24,300 crores) worth of stock almost exclusively in the Adani Group.

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A precedence of the past governments allowing the setting up of Joint Parliamentary Committees to investigate these cases. Bharti Airtel has overcome existential crises in and 2020 (Supreme Court’s AGR verdict) as well as the ‘tsunami’ of 2016 (Reliance Jio’s launch) to emerge as an institution that is a national asset, said chairman Sunil Mittal. He also claimed that on March 1, 2023, Adani Power made a disclosure to the Bombay Stock Exchange and the National Stock Exchange that it had signed supplementary PPAs with Haryana’s two power distribution companies. “Did you pressure CM Khattar to bail out your cronies yet again? How many thousands of crores of rupees will be fleeced from Haryana consumers by Adani to pay for the BJP’s electoral bonds?” Ramesh said. “And AERA outdid itself in the case of the Adani-operated Mangaluru airport by not only hiking user fees for departing passengers but also imposing them on arriving passengers,” Ramesh claimed.

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Stating there were serious allegations of “brazen stock manipulation” against the Adani Group, the party said the collapse in Adani’s publicly-listed stock prices following the Hindenburg report had damaged investors who were “duped by artificially-inflated prices”. Over the ages, Gold has worked as an investment, especially during times of economic crisis, political strife and wars. In the year 2011, almost 980 tonnes of gold were bought in India, the world’s largest market for gold, a 40% jump over the corresponding period last year. Such is the demand for gold in India that prices have increased in the long term, even in the last decade, when many central banks sold their gold holdings. The compounded annual growth rate of gold prices over the last 10 years stand at 19.6 per cent.

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Monitor the latest movements within the Humana Inc real time stock price chart below. You can find more details by visiting the additional pages to view historical data, charts, latest news, analysis or visit the forum to view opinions on the HUM quote. “Yet Adani Group stock prices were allowed to spiral after that. When will SEBI be held accountable for this serious lapse and allowing the destruction of huge retail savings? Did the Modi government put pressure on SEBI to go slow in its investigation?” he said. Investment in mutual funds can be made for as small an amount as Rs 500 while utilising the investment knowledge of experts.

  • The Congress asked when the SEBI would be held accountable for allowing stock prices to spiral even while the Adani Group was being investigated by the regulator.
  • “Was this yet another case of phone banking by your government? Is it true that the CEO was subsequently asked to clarify his statement by Members of Parliament on 6 March 2023 at a historic south Indian location, and if so, will you share his answer with the people of India?” Ramesh asked.
  • It also said that the regulator thereafter also failed to protect investors by talking strict action.
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Market cap or market capitalization is the total market value of all of a company’s outstanding shares. By Investing.com Staff Managed care stocks are lower Thursday after Medicare Advantage proposed a rate decrease of 2.27% for 2024. “What has SEBI done to properly investigate these dubious benami companies? If not, what is the leverage that the Adani Group exercises that has prevented the full force of India’s regulators and investigative agencies from unravelling the truth? What did Gautam Adani discuss in person with SEBI chairperson Madhabi Puri Buch in October 2022?

Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. The market capitalization of Humana Inc. on April 27, 2023, is $65.85 B. New York, Oct 4 Automation Anywhere, a leader in cloud-native intelligent automation, on Tuesday unveiled the Automation Success Platform which is designed to accelerate business… Jim Cramer provides his thoughts on the most recession-resistant stocks in our portfolio.

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