MSCI seeks feedback on Adani Group after Hindenburg expose

News Network
January 28, 2023

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Index provider MSCI said on Saturday, January 28, it is seeking feedback on Adani Group and associated securities and is aware of a report issued by short-seller Hindenburg Research.

The US short-seller said on Wednesday it held short positions in the Indian conglomerate, accusing it of improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of India-listed shares of the conglomerate's companies.

"MSCI is closely monitoring publicly available information regarding the situation and the factors that may impact the eligibility of those relevant securities for the MSCI Global Investable Market Indexes," it said in a statement. 

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News Network
March 13,2023

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Mangaluru, Mar 13: The Mangaluru International Airport (MIA), the second busiest airport in Karnataka, handled 2,00,527 national and 92,290 foreign travellers in the first two months of the calendar year.

The MIA had handled 1,38,510 domestic and 56,506 international passengers in the corresponding two months of the previous calendar year, thus effectively ensuring that MIA handled 97,801 more passengers in the first two months of this calendar year, a release from the Adani-run MIA said here Sunday.

With more routes and airports opening, the development of airports has improved increasing the country’s investment opportunities while simultaneously increasing job prospects, the release said.

All seven Adani airports saw an increase of 92 per cent in domestic and 133 per cent in international travellers. There has been a rise in the number of domestic flights by 58 per cent and international flights by 61 per cent.

The air traffic jumped by around 100 per cent compared to the previous year, taking the number to pre-pandemic levels with more than 14.25 million passengers using these airports during the last year.

This upward trend is expected to continue and it is anticipated that the number of trips people will take in a year will increase. One of the factors driving this growth is the restart of tourism after the pandemic.

Being the second busiest airport in the country, Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) recorded nearly 8.44 million passenger movements in January-February this year. CSMIA witnessed nearly 2.22 million international and 6.22 million domestic passengers.

The first two months also saw a huge rush at the Sardar Vallabhbhai Patel International (SVPI) Airport in Ahmedabad. It had 1.74 million domestic passengers flying in and out of the airport. Its international traffic recorded 2,83,379 travellers.

Jaipur is the 11th busiest airport in the country. Jaipur International Airport (JIAL) recorded nearly 0.95 million passenger movements. JIAL experienced significant growth, with nearly 69,300 international passengers and around 0.88 million domestic passengers.

Being the busiest airport in Uttar Pradesh, Lucknow’s Chaudhary Charan Singh International Airport (CCSIA) recorded nearly 1.04 million passenger movements in both months. CCSIA witnessed a fruitful first two months with nearly 1,36,880 international and around 9.03 lakh domestic passengers.

Considered the gateway to Northeast India, Lokpriya Gopinath Bordoloi International (LGBI) Airport has flights to and from 32 domestic and two international destinations. It recorded a footfall of 9,02,694 passengers, witnessing a sharp increase from the corresponding months last year.

Thiruvananthapuram recorded 2,99,850 and 2,99,770 domestic and international footfalls. The airport has connectivity to ten domestic and 12 international airports.

The growth in traffic is proof of Adani Airports’ attempts to promote passenger confidence through initiatives like e-gates, barcode scanners, friendly and cooperative ground staff, Pranam Service, free Wi-Fi, retail and F and B stores and automated parking systems.

The rise in passenger traffic was driven by positive sentiments among air travellers and a strong surge due to the festive holiday season, the release said. 

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News Network
March 9,2023

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Mangaluru, Mar 9: A second year pre university student reportedly ended her life on Thursday at her residence in Bantwal taluk of Dakshina Kannada. 

The deceased has been identified as Vaishnavi (17), daughter of Chandre Gowda and Saumya couple from Baltila village. She was a student of private college in Kalladka. 

A student of commerce stream, Vaishnavi’s final examinations were scheduled to commence from tomorrow. 

It is learnt that the girl had been to college in the morning. However, she returned home half way through claiming she had forgotten something. After sometime she was found hanging. 

Vaishnavi had memorized 700 shlokas of Bhagavad Gita.

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News Network
March 23,2023

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New Delhi, Mar 23: A Surat district court on Thursday sentenced Congress MP Rahul Gandhi to two years in prison after holding him guilty in a criminal defamation case over a remark on the “Modi” surname in 2019. The court later granted Rahul bail to appeal.

The case was filed on a complaint lodged by BJP MLA and former Gujarat minister Purnesh Modi after the Congress leader allegedly said: “How come all the thieves have Modi as the common surname?”

The complainant claimed the controversial remark was made at a rally at Kolar in Karnataka, ahead of the 2019 Lok Sabha elections. He said the comment defamed the entire Modi community.

The court of Chief Judicial Magistrate, H.H. Varma, had concluded hearing final arguments last Friday and set 23 March as the date of judgment.

The judge had asked Rahul to be present in court when he pronounced his decision. The Congress MP had previously appeared thrice during the hearing. He was last seen in court in October 2021 to record his statement. He pleaded not guilty.

The final arguments in the defamation case resumed in February 2023 after the Gujarat High Court vacated the interim stay it had imposed on the proceedings in March 2022 on the complainant’s plea, demanding the presence of Rahul Gandhi.

The Surat West MLA and former Gujarat minister Purnesh Modi said there were CDs and a pen drive of Rahul Gandhi’s speech to prove that the Congress leader had made that “defamatory” comment.

Rahul’s lawyer, on the other hand, said Narendra Modi — and not Purnesh Modi — should have been the complainant because most of Rahul’s speeches targeted the Prime Minister. 

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