India’s Congress party is claiming credit for a stock-market rally that sent the S&P BSE Sensex index to record highs. Much of the evidence suggests the real catalyst is Narendra Modi, the leader of the opposition party projected to win the national elections.
Narendra Modi, the frontrunner to become India’s next prime minister, said he deserves the death penalty if any allegations about his involvement in sectarian riots that took place 12 years ago are proven true.
Minutes after tycoon Ratan Tata abandoned a two-year quest to build the world’s cheapest car in West Bengal over farmer protests, he got a text message from the frontrunner to be India’s next leader: “Welcome to Gujarat.”
Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
Adani Enterprises Ltd. hired seven banks including Citigroup Inc. and Bank of America Corp. to help it raise as much as $600 million selling shares to institutional investors, said two people with knowledge of the matter.
Adani Enterprises Ltd. , India’s biggest coal importer, may sell shares in a unit that holds mining rights in the Asia-Pacific region to international investors and use the proceeds to add energy assets.
Adani Enterprises Ltd. is in talks with Hancock Coal about sharing a rail line in Queensland state to transport the fuel used in power plants to ports on the east coast, the Australian Financial Review reported, citing an interview with Chairman Gautam Adani. The Indian company hasn’t had discussions with Hancock about buying a stake in its coal assets, the newspaper said, citing Adani.