Indian shares set to open higher; Adani stocks remain in focus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 22 2024
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Source: Reuters
Market Overview: Indian shares are expected to open slightly higher after a significant drop due to bribery and fraud allegations against Gautam Adani, which led to a loss of $27 billion in market value for the Adani group. The Nifty 50 and BSE Sensex are on track for their third consecutive weekly loss amid weak investor sentiment and global economic pressures.
Corporate Developments: Tata Power has secured a $4.25 billion deal with the Asian Development Bank for clean energy projects, while Life Insurance Corp of India increased its stake in LTIMindtree. Additionally, stock exchanges have approved the demerger of Raymond and Raymond Realty, and SJVN has partnered with the Rajasthan government for renewable energy development.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
