#AdaniGroup sheds ₹94,000 crore in value after a report says it’s ‘deeply over-leveraged’

businessinsider.in/stock-market/n…

By @jainrounak
All the seven #AdaniGroup companies were hammered on the stock exchanges today after a CreditSights report outlined that it is ‘deeply over-leveraged.’

In the first half of trading today, Adani Group lost over ₹94,000 crore in value, with the top loser being #AdaniGreen.
#GautamAdani’s spectacular rise to the top of India’s richest man, is fueled by debt, the report said. Two years ago, his total wealth stood at a meagre $10 billion – in comparison to today when he is now worth $136 billion.

businessinsider.in/thelife/person…
The report said that most of #GautamAdani’s fortunes constitute ‘paper wealth’. His spot in the top richest men list is fuelled by the value of his stock holdings.

This #debt that could unravel Adani’s sprawling business empire, according to the report.
The report went on to point out that the group’s competition with #RelianceIndustries, low equity infusion as risks, while maintaining that the #AdaniGroup can gain from the Indian government’s massive infrastructure spends.
While today’s rout in the #AdaniGroup companies is big, investors who put their money in the Adani empire in 2020 have seen huge returns – every ₹1 lakh invested in the Adani Group in 2020 is now worth over ₹7 lakh.

Here are the returns of the seven Adani Group companies👇

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More from @BiIndia

Aug 24
#TomatoFlu cases spread to Haryana, Tamil Nadu and Odisha — Know more about this contagious disease

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By @VaamanaaSethi Image
As India continues to battle #COVID19, another contagious disease called ‘tomato flu or tomato fever’ is creating havoc in the country. It has now spread to four states — Haryana, Tamil Nadu, Odisha and Kerala.

#TomatoFlu Image
A total of 100 cases, in children below the age of 5 years, have been reported so far in the country. The first case of tomato flu was identified in Kerala on May 6.

Additionally, Bhubaneswar has reported 26 cases of #TomatoFlu in children between the ages of 1-9 years. Image
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Aug 23
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businessinsider.in/science/news/n…
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Listen to the clip below, where NASA captured the eerie sounds of #blackhole pressure rippling through the Perseus galaxy cluster.

"The misconception that there is no sound in space originates because most space is a ~vacuum, providing no way for sound waves to travel. A galaxy cluster has so much gas that we've picked up actual sound," the @NASA account tweeted.

#NASA #BlackHole
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Aug 22
#EXCLUSIVE | Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat

@Meesho_Official @viditaatrey

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By @malinibhupta
Shaan Ansari is a 19-year old entrepreneur who lives in the historic city of Panipat, 100 kms north of Delhi, and he may never qualify for any list celebrating under-20 #entrepreneurs, but his story is no less inspiring than #RanveerSingh’s character in Gully Boy.
The pandemic put his father out of work and Ansari out of school. He went scouting for opportunities online that would require zero #investment and found it in Meesho.

Today he manufactures mats from a rented factory, employs 50 people and clocks revenues of ₹30 lakh a month.
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Chinese #smartphones continue to lead the market share despite crackdown by the Indian government

businessinsider.in/tech/mobile/ne…

By @sourabhjain24
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FM #NirmalaSitharaman recently spoke about the crackdown on Chinese companies in the Rajya Sabha.
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Jul 21
India has more KFCs and Pizza Huts than Canada or Mexico, and they’re customized too

@KFC_India @PizzaHutIN

businessinsider.in/business/news/…

By @KatyaNaidu
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#KFC
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businessinsider.in/business/corpo…

By @jainrounak
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However, Wipro CEO and MD Thierry Delaporte said the company is “pleased with the outcomes”.
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