Friday, August 28
Kolkata: Russian state-backed diamond miner Alrosa would enter India by setting up a polishing plant, either in Surat or Jaipur, CEO-chairman Pavel Maryinchev told ET. India would be the first overseas expansion for Alrosa, considered the biggest in its business supplying nearly a third of all the stones mined to global polishing hubs.The India foray by Alrosa comes just days after Russian president Vladimir Putin's visit to New Delhi. Alrosa would roll out co-branded luxury jewellery lines and use blockchain-based supply chain platforms for Indian diamond cutters, indicating an aggressive entry strategy for the world's biggest diamond hub for manufacturing and luxury retail.India cuts and polishes nine out of ten diamonds sold globally."India's robust economic backdrop underscores the opp
Capital markets regulator Sebi has dropped insider trading proceedings against Pranav Vinod Adani, Kunal Dhanpalbhai Shah and Nrupal Dhanpalbhai Shah linked to the Adani Group in a case tied to Adani Green Energy’s 2021 acquisition of SoftBank-backed SB Energy, holding that the trades under scrutiny were executed after the information had already entered the public domain.Sebi disposed of the show cause notice (SCN) issued to said individuals "without issuance of any direction", including any disgorgement or monetary penalty.The case stemmed from Adani Green's disclosure to stock exchanges about share purchase agreements to acquire stakes in SB Energy from SoftBank Group Capital Ltd and Bharti Global. Sebi noted that the announcement was followed by a rise in the company's share price on
Market veteran Vijay Kedia on Friday said stock prices eventually follow business fundamentals, pointing to the strong listing performance of Exato Technologies, an IPO pick from his portfolio that nearly doubled investor money on debut.In a post on X, Kedia said that when fundamentals are strong, the market responds decisively. He highlighted that his deep-tech investment received a record subscription of 947 times and listed at a near 100% premium, calling it a reminder that quality technology stories continue to attract overwhelming demand despite broader market noise.Exato Technologies made its debut on the BSE SME platform with a sharp rally, listing at a gain of about 90% over its issue price. The strong listing followed robust demand during the book-built IPO, which closed on Decemb
An earthquake with a preliminary magnitude of 6.7 hit Japan's northeastern region on Friday, prompting a tsunami advisory for waves up to 1 metre (39 inch) high from the Japan Meteorological Agency (JMA). The quake struck at 11:44 a.m. (0244 GMT) off the coast of Aomori prefecture with a depth of 20 km (12 miles), after a bigger, 7.5-magnitude earthquake hit the same region late on Monday. After Monday's earthquake, the government issued a special advisory warning residents across a wide area, from Hokkaido in the north to Chiba, east of Tokyo, to be on alert for an increased possibility of a powerful earthquake hitting again within a week. The tremor on Friday measured 4 on Japan's 1-7 seismic intensity scale.
