Tag: Report

Hindenburg report: KTR goes after BJP, asks who was aiding Adani group

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Hyderabad: BRS working president and Telangana IT minister KT Rama Rao on Saturday went after the BJP-led Centre and said that there are serious questions that need to be answered by the ‘NPA’ govt on findings of the Hindenburg Report.
“There are serious questions that need to be answered by the NPA Govt on #HindenburgReport Why do LIC & SBI have such large exposure ₹77,000 Cr & ₹80,000 Crore to Adani group stocks? Who pushed them to do so? Who was aiding & abetting them in this entire episode?” he asked on Twitter.
There are serious questions that need to be answered by the NPA Govt on #HindenburgReport
Why do LIC & SBI have such large exposure ₹77,000 Cr & ₹80,000 Crore to Adani group stocks? Who pushed them to do so?
Who was aiding & abetting them in this entire episode?
— KTR (@KTRBRS) January 28, 2023
Along with the Adani Group share pummelling on Friday, with the group losing Rs 3.37 lakh crore in aggregate market capitalisation in a single day, Life Insurance Corporation (LIC), the single largest non-promoter domestic shareholder in five of the largest Adani Group companies by market capitalisation, lost Rs 16,627 crore due to a drop in the value of its Adani Group holdings.
Indeed, the value of LIC’s Adani Group assets fell from Rs 72,193 crore on Tuesday to Rs 55,565 crore on Friday, a 22% drop in only two days.
Meanwhile, LIC’s share price declined 3.5 percent during the day on Friday, falling 5.3 percent in the prior two days.
What is the Hindenburg report?
Hindenburg Research, a well-known short seller in the United States, disclosed short positions in the Adani Group on Wednesday, accusing the conglomerate of the improperly wide use of businesses established in offshore tax havens and expressing worry about excessive debt levels.
The revelation, which comes just days before Adani Enterprises’ (ADEL.NS) $2.5 billion share sale, sent Adani group businesses’ shares tumbling.
It also said that seven Adani listed firms had an 85% downside on a fundamental basis because to what it dubbed ‘sky-high valuations’.

The firm published an investigative document titled ‘Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History‘ and revealed findings of their two-year investigation presenting evidence that the Rs 17.8 trillion worth Adani group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.
According to the report, Gautam Adani, the Adani Group’s founder, and chairman, has a net worth of about $120 billion, which he has increased by more than $100 billion in the last three years, primarily as a result of stock price growth in the group’s seven most important publicly traded companies, which have increased by an average of 819 percent during that time.
KT Rama Rao had also challenged the central investigative agencies including the Enforcement Directorate (ED), Central Bureau of Investigation (CBI), Income Tax Department (IT) and Securities and Exchange Board of India (SEBI) to probe into the Adani enterprise’s ‘scam’.
The challenge comes hours after US’s Hindenburg Research’s investigative document, alleging fraud in Adani Group’s dealings, surfaced.
KTR challenged the agencies to probe into the matter stating in a tweet “ED, CBI, IT & SEBI; Hain Dum probe Karne Ka👇??
KTR further went on to criticise mainstream and national media remarking on their ‘inefficiency’ to manifest such matters.
ED, CBI, IT & SEBI; Hain Dum probe Karne Ka👇??
I am sure NO mainstream National media will report/discuss this & even Social Media platforms will be coerced by NPA Govt into removing the report #NewIndia https://t.co/qpyBPsob5t
— KTR (@KTRBRS) January 25, 2023

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( With inputs from www.siasat.com )

January 28, 2023
Sensex, Nifty go into a tailspin after ‘fraud’ report on Adani group

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Mumbai: Benchmark indices Sensex and Nifty plunged over 1 per cent to close at three-month lows on Friday due to selling in banking, financials, utilities and oil shares triggered by an unfavourable report on Adani group as well as FIIs taking a cautious stance ahead of the Union budget.
Continuing its decline for a second session, the 30-share BSE benchmark tanked 874.16 points or 1.45 per cent, its biggest single day loss in more than a month, to settle at 59,330.90. This is the lowest closing level since October 21.
During the day, Sensex plunged 1,230.36 points or 2.04 per cent to 58,974.70.
The broader NSE Nifty fell 287.60 points or 1.61 per cent to end at a three-month low of 17,604.35, also marking its worst single-day fall since December 23, 2022.
“Indian benchmark equity gauges Sensex and Nifty hit their over three month lows on Friday, dragged by massive selling mainly in Adani group and banking stocks. Adani shares were in the line of the fire following the Hindenburg report accusing the group of serious irregularities,” said Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities.
Vinod Nair, Head of Research at Geojit Financial Services also said that the sharp slump in the Indian market was triggered by an unfavourable research report on Asia’s richest promoter group companies.
“This is also affecting the banking stocks even though the results of the sector are optimistic due to high group lending, indicating potential risk. PSU banks are the most impacted compared to private banks owing to high exposure. The FIIs’ cautious stance ahead of the Union Budget and FOMC meetings also fuelled the collapse.”
From the Sensex pack, SBI fell the most by 5.03 per cent. ICICI Bank by 4.41 per cent, IndusInd Bank by 3.43 per cent, Axis Bank by 2.07 per cent, Kotak Bank by 2.03 per cent, HDFC Bank by 1.96 per cent, Reliance by 1.9 per cent and HDFC by 1.87 per cent.

Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains. Tata Motors, which returned to profitability in the third quarter of FY23, rose the most by 6.34 per cent among Sensex shares. Mahindra & Mahindra advanced 0.71 per cent.
ITC and UltraTech Cement were also among the winners.
In the broader market, the BSE smallcap gauge tanked 1.89 per cent and midcap index fell by 1.29 per cent.
Among sectoral indices, utilities tanked 7.34 per cent, power tumbled 6.79 per cent while oil & gas (5.75 per cent), energy (5.22 per cent), telecommunication (3.79 per cent), commodities (3.27 per cent), bankex (3.06 per cent) and financial services (2.48 per cent) also declined.
FMCG, healthcare and auto ended in the green.
Adani group stocks took a beating falling up to 20 per cent after the US-based investment research firm Hindenburg Research made damaging allegations.
The group’s flagship Adani Enterprises, which launched the Rs 20,000 crore FPO on Friday, tanked 18.52 per cent. Adani Ports plunged 16 per cent, Adani Power by 5 per cent, Adani Green Energy by 19.99 per cent, and Adani Total Gas by 20 per cent.
In two days, the Adani group firms have lost a whopping Rs 4,17,824.79 crore from their market valuation. The market valuation of Adani Total Gas plummeted Rs 1,04,580.93 crore while that of Adani Transmission by Rs 83,265.95 crore.
Adani Enterprises market capitalisation fell by Rs 77,588.47 crore, Adani Green Energy lost Rs 67,962.91 crore and Adani Ports by Rs 35,048.25 crore.
The market valuation of Ambuja Cements declined by Rs 23,311.47 crore, Adani Power by Rs 10,317.31 crore, ACC by Rs 8,490.8 crore and Adani Wilmar by Rs 7,258.7 crore.
Elsewhere in Asia, equity markets in Seoul, Tokyo and Hong Kong ended in the green.
European benchmarks were trading higher during mid-session deals. Markets in the US had ended higher on Thursday.
Stock markets were closed on Thursday on account of Republic Day.
International oil benchmark Brent crude climbed 1.35 per cent to USD 88.65 per barrel.
Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,393.94 crore on Wednesday, according to exchange data.
“Traders will now gear up for the next 2-big catalysts; interest-rate decision from the Federal Reserve to trickle in on February 1, and the Union Budget for 2023-24 to be presented on the same day,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.
(Except for the headline, this story has not been edited by Siasat staff and is published from a syndicated feed.)
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#Sensex #Nifty #tailspin #fraud #report #Adani #group
( With inputs from www.siasat.com )

January 27, 2023
Canada to send 4 tanks to Ukraine: Report

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Ottawa: Canadian Defence Minister Anita Anand is set to announce that his country will be sending four battle tanks to Ukraine.
In addition to the initial four Leopard 2 tanks, Canada is considering sending more tanks at a later date, CTV News reported, citing government sources.
The Canadian Armed Forces currently has 82 German-made Leopard 2 battle tanks, but they are in various states of serviceability, Xinhua news agency reported, citing the report.
On Wednesday, Germany and the US announced they would be organising the shipment of dozens of Leopard 2 tanks to Ukraine.
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( With inputs from www.siasat.com )

January 27, 2023
ASER Report Presents Grim Picture Of JK’s Education Setup

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by Umaima Reshi
SRINAGAR: The Annual Status of Education Report (ASER) 2022 has presented a grim picture of the education system in Jammu and Kashmir ranging from a dip in enrolment numbers to poor infrastructure and lack of proper sanitation facilities.
As per the ASER report, the enrolment numbers of children in the 6-14 age group has gone down from 58.3 per cent in 2018 to 55.5 per cent in 2022. This dip comes against the backdrop of the school education department claiming that they have been running campaigns across Jammu and Kashmir to increase enrolment. Also, at the national level, there has been an increase in the enlistment of students.
As per the report, 4.8 per cent of children in the 15-16 age group are not enrolled in schools in Jammu and Kashmir.
At the pre-primary level, the report states that in 2022, around 63.6 per cent of infants were registered at Anganwadi Centres. However, the enrolment improved from 31.8 per cent in 2018 to 39.4 per cent in 2022.
The report also highlighted the gender gap in grown-up children in terms of their enrolment in schools. As per the data, girls in the age group of 15-16 years usually drop out of school more than boys.
The report states that the percentage of students undertaking private tuition from up to middle school level has seen a rise from 8.8 per cent in 2018 to 13.8 per cent in 2022.

The ASER survey reveals a gap in learning outcomes among students of government and privately run schools.
“In UT, the private school children were making progress before 2022 and are still progressing. The Government school children were facing obstacles pre-pandemic but are on the move to progression,” the ASER reads.
The report states that the arithmetic level of students in government schools has seen progress over the years. Despite this, only one in four children of 8^th standards in government schools can do division, compared to one in two in private schools.
The ASER report also points out that the unavailability of computers for children in schools has come down from 82.8 per cent in 2018 to 71.6 per cent in 2022.
The report revealed an increase in electricity connections in schools which rose from 31.2 per cent to 88.9 per cent in 2022.
The report underlined that the education department needs prompt help in achieving foundational skills in literacy and numeracy besides exerting pressure on grades.
“While many children have not been enrolled, the ones who have dropped, especially girls, need to be brought back,” ASER stated.
The report divulged that 30 per cent of schools in Jammu and Kashmir lack water facilities. In the matter of drinking water, the availability has increased by 15 per cent from 69.3 per cent in 2018.
Furthermore, the annual survey report revealed that around half of schools in Jammu and Kashmir have a paucity of girls’ toilets. It stated that 72.8 per cent of schools have toilets, which are being used by both girls and boys, which signifies that approximately 47 per cent of the girls have a shortage of toilets. However, it has also been seen that there is a 5 per cent increase in the facility since 2018.
The survey was conducted across 20 districts with around 10,924 households and 21,666 children in the age group of 4 to 16 years contacted. The ASER is an annual survey that delivers reliable estimation of children’s schooling status and household research all over India.
“We are trying to fill the learning gaps, and as of now, we are moving towards prosperity. With the adoption of the New Education Policy, this year has been regarded as a year of academic excellence and transformation,” Director School Education Kashmir Tassaduq Hussain said in response to the revelations made by ASER. “The National Achievement Survey has revealed that we have jumped from the 18th position to the 8th position, which is quite an accomplishment.”
He added: “This is a continuous process and we are trying and planning to improve the curriculum and infrastructural issues.”

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#ASER #Report #Presents #Grim #Picture #JKs #Education #Setup
( With inputs from : kashmirlife.net )

January 26, 2023
Sirens across Ukraine as authorities report Russian attacks

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KYIV: Ukrainian officials said Thursday that Russia has launched a wave of missile and self-exploding drone attacks on the country.
Air raid sirens wailed nationwide, but there were no immediate reports of injuries or of the missiles and drones striking targets.
The head of the Kyiv city administration said that 15 cruise missiles were shot down.
Serhii Popko said the missiles were fired “in the direction of Kyiv” but did not clarify if the capital itself was a target. Mayor Vitali Klitschko said explosions were heard in Kyiv’s Dniprovskyi district, on the east side of the river that divides the city.
The attacks came after Germany and the United States announced Wednesday that they will send advanced battle tanks to Ukraine, offering what one expert called an “armored punching force” to help Kyiv break combat stalemates as the Russian invasion enters its 12th month.
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( With inputs from www.siasat.com )

January 26, 2023
5G IoT connections to surpass 100 mn globally by 2026: Report

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New Delhi: The global 5G IoT (Internet of Things) connections will reach 116 million by 2026, rising from just 17 million in 2023, a new report said on Tuesday.
According to Juniper Research, the healthcare sector and smart city services will drive this 1,100 per cent growth over the next three years.
“5G will enable more efficient and dynamic healthcare provision that was not feasible with 4G or Wi-Fi. However, healthcare providers must first implement 5G in areas which provide a strong return on investment, most notably connected emergency services,” said Research co-author Olivia Williams.
The report forecasts that the healthcare and smart cities market will account for over 60 per cent of 5G IoT devices by 2026.
Moreover, the report predicts that 5G networks will see significant growth in smart city services due to their low cost of deployment and ability to carry large amounts of data.
There will be over 60 million 5G smart city connections globally by 2026, and the report urges city-planning authorities to leverage 5G connectivity as high-bandwidth gateways.
The report also discovered that transportation network monitoring, including road and rail networks, will be critical services that will necessitate 5G-enabled high-bandwidth cellular connectivity.

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#IoT #connections #surpass #globally #Report
( With inputs from www.siasat.com )

January 24, 2023
India invites Pak Chief Justice, Foreign Minister for SCO meetings: Report

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Islamabad: India has invited Chief Justice of Pakistan Umar Atta Bandial and Foreign Minister Bilawal Bhutto Zardari to attend meetings of the Shanghai Cooperation Organisation (SCO) that also includes Russia and China, a media report said.
India currently holds the presidency of the SCO which comprises Russia, China, India, Pakistan, Iran and Central Asian States, The Express Tribune reported.
As president of the SCO, New Delhi is set to host a series of events, including a conference of the chief justices of member states, meeting of the foreign ministers and a summit in 2023.
The meeting of Chief Justices of the SCO is scheduled for March while the Foreign Ministers will meet in May.
Official sources confirmed to The Express Tribune on Monday that India shared the invitations with Pakistan for the Chief Justice and Foreign Minister.
It is, however, not clear whether the Chief Justice and the Foreign Minister will attend both the events or depute someone to represent Pakistan.
Pakistan hasn’t yet responded to the Indian invite, according to sources.
Given the SCO is an important forum because of the presence of China and Russia, Pakistan is unlikely to stay out of the events, reports The Express Tribune.

Both Pakistan and India were accepted as full members of the influential organisation a few years back after they committed not to undermine the SCO work because of their bilateral disputes.
The meeting of the SCO Foreign Ministers is due to take place in Goa, Express Tribune reported.
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#India #invites #Pak #Chief #Justice #Foreign #Minister #SCO #meetings #Report
( With inputs from www.siasat.com )

January 24, 2023
British-Indian doc blames UK hospital for her suicide: Report

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London: A 35-year-old British-Indian doctor, who ended her life in June last year, had blamed the hospital where she worked for her death, according to a suicide note shared by her parents.
Junior doctor Vaishnavi Kumar, who worked at Birmingham’s Queen Elizabeth Hospital (QEH), said in the letter that the working environment “just broke me”.
“I am sorry mum, I can blame the whole thing on the QEH,” she wrote in her note, which was not read out during her inquest last year, the BBC reported.
Kumar said in her note to her mother that her mental health had declined while working at the QEH and she was “now a nervous wreck”.
The inquest found that Kumar ended her life after she struggled to cope up with “bullying and condescension at work”, and often returned home crying.
Kumar’s parents told the BBC they had now released her final words in an attempt to help other junior doctors.
“She must have gone through a huge amount of bullying and stress otherwise she is not the girl who would have done this,” Dr Ravi Kumar, who believes the QEH “destroyed” his daughter, told the BBC.
“So people who have done this have done a huge amount of damage and that makes me angry,” the heartbroken father said.

Before moving to QEH, Vaishnavi Kumar worked as a chief registrar at Sandwell and West Birmingham Hospitals where she was seen as an outstanding trainee and a mentor for other junior doctors, with strong leadership skills, the report said.
Her struggle at QEH began around December 2021 and she committed suicide on June 22, 2022.
The QEH comes under the University Hospitals Birmingham NHS Foundation Trust, which is recognised as one of the leading NHS trusts in the UK with more than 20,000 members of staff.
Last month, British-Sikh MP from Birmingham Preet Kaur Gill had called on the Health Secretary to initiate an independent inquiry into the alleged bullying culture at the University Hospitals Birmingham (UHB).
Gill said staff and former staff members described being harassed over several years, leading to counselling, depression and extended periods off work.
According to the BBC, UHB is currently subject to three separate reviews following reports of staff saying there is a “climate of fear” at the Trust.
The Birmingham and Solihull Integrated Care Board announced a three-part review into the culture at UHB.
The first report is expected at the end of January 2023.
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( With inputs from www.siasat.com )

January 23, 2023
Centre seeks state’s report on ‘Azad Kashmir’ question in Bengal’s test-paper

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Kolkata: A day after a row erupted in Bengal over the recently-released compilation of test-papers for secondary examination released by the West Bengal Board of Secondary Examination (WBBSE) having a question on ‘Azad Kashmir’, the Centre on Wednesday sought an explanatory report from the state government on this count.
WBBSE releases the test-paper compilation every year, which contains Class 10 final test examination (pre-board) questions of some leading schools. The compilation acts as a suggestion for the candidates appearing for the Class 10 board exams.
However, page 132 of this year’s test-paper carried a question paper of Ramakrishna Mission Vivekananda Vidyamandir, Malda, with a question that asks the students to point out ‘Azad Kashmir’ on the map.
Sources in the state government said that a communique from the Union Education Ministry has reached the state secretariat, seeking an explanatory note from the West Bengal education department on this count.
In the communique, it has been stated that the matter of ‘Azad Kashmir’ is an extremely sensitive issue and the Union government does not recognise ‘Pakistan occupied Kashmir’ as ‘Azad Kashmir’.
“The Education Ministry has sought clarification from the state government as to how such a sensitive issue managed to find a place in the test-paper,” said a state education department official, who refused to be named.
Meanwhile, sensing the gravity of the matter, the state education department has already initiated an internal probe into the matter. Sources said that a total of nine teachers have been identified and cautioned in the matter by the WBBSE.
Out of the nine teachers cautioned, six are members of the board’s history syllabus committee.

A letter of caution has also been forwarded to the headmaster of Ramakrishna Mission Vivekananda Vidyamandir, whose question paper carrying the controversial question on ‘Azad Kashmir’ featured in the test-paper.
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( Disclaimer: With inputs from www.siasat.com )

January 18, 2023
Ukraine: senior officials die in helicopter crash near nursery – video report

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A helicopter believed to have been travelling to the frontline has crashed in a Kyiv suburb, killing senior officials including the interior minister, Denys Monastyrsky, and a number of children who died after debris hit a nearby nursery. Footage from the immediate aftermath shows a building and cars on fire, with video released by the Ukrainian police showing parts of the helicopter scattered across the crash site. Security services are investigating possible causes, including a technical malfunction, a breach of flight rules and the intentional destruction of the helicopter
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#Ukraine #senior #officials #die #helicopter #crash #nursery #video #report
( With inputs from : www.theguardian.com )

January 18, 2023