WHAT HAPPENED IN THE INDIAN STOCK MARKET LAST WEEK? LET’S FIND OUT!
1. Adani Group Pauses ₹83,000 Crore Chip Manufacturing Project
Adani Group has temporarily paused discussions on its ₹83,000 crore chip manufacturing project.
This discussion was ongoing with Israel-based Tower Semiconductor.
According to Reuters, there are two major reasons behind this pause:
First, the demand for chips in India is still uncertain.
Second, Adani Group found Tower Semiconductor’s proposed financial investment too low.
The semiconductor plant was planned for Maharashtra, which would have created about 5,000 jobs and produced 80,000 wafers per month.
This project was part of PM Modi’s vision to make India a global chip manufacturing hub.
However, based on an internal review, Adani believes chip production and sales in India are not yet stable enough, so the company decided it’s better to wait.
Sources say Adani wanted both technology and significant investment from Tower, which the Israeli company wasn’t fully committing to.
Adani Group has said they might re-evaluate the project in the future, but discussions are currently on hold.
2. Pakistan Stocks and Dollar Bonds Crash Amid Border Tensions
Pakistan’s stock market and dollar bonds have experienced their worst month since 2023 — mainly due to rising border tensions with India.
Pakistan's Information Minister Attaullah Tarar said on April 29 that India might take military action within the next 24–36 hours, and Pakistan would respond strongly.
3. Urban Company Files for ₹1,900 Crore IPO
Urban Company has filed its DRHP with SEBI for a ₹1,900 crore IPO.
Urban Company is a mobile app-based platform offering beauty and home care services.
The IPO includes:
₹429 crore worth of fresh issue, and
₹1,471 crore worth of offer for sale (OFS) by existing investors
Initially, the company planned a ₹3,000 crore IPO, but has reduced it to ₹1,900 crore.
Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, and JM Financial have been appointed as bankers.
4. Ambuja Cements Q4 Results
Ambuja Cements has announced its results for the March quarter.
The standalone net profit was ₹928 crore — a 74% rise year-on-year.
However, quarter-on-quarter, profit dropped 47.16% from ₹1,758.03 crore in Q3 FY25.
Revenue remained strong at ₹5,670.09 crore, a 19% increase YoY.
CEO Vinod Bahety said Ambuja has now crossed 100 MTPA production capacity.
5. Vedanta Demerger Timeline Extended to September 2025
Vedanta Ltd is now targeting September-end 2025 to complete its demerger process.
CFO Ajay Goel said the demerger will be completed by Q2 FY26.
Earlier, the target was June–July.
This plan involves separating Vedanta’s various businesses into distinct legal entities,
However, after stakeholder feedback, some companies may remain under the parent entity.
6. SEBI Puts Adani Group's Settlement Requests on Hold
SEBI has temporarily put Adani Group’s settlement applications on hold.
The investigation began in 2023 after Hindenburg Research accused the group of using tax havens and manipulating stock prices.
A total of 24 charges were investigated, with 30 group entities applying for settlement.
One major allegation was that companies like Adani Enterprises, Adani Ports, Adani Energy, and Adani Power falsely categorized Mauritius-based funds (linked to Vinod Adani) as public shareholders, violating the rule that at least 25% shares of a listed company must be held by the public.
Adani Group offered to pay fines but did not agree to reclassify the shares.
SEBI stated that unless these shares are reclassified correctly, the settlement cannot be approved.
Currently, SEBI is reviewing its internal settlement process, which will take around 3 months.
7. SEBI Warns Against Opinion Trading Platforms
SEBI has issued a warning to investors about opinion trading platforms.
These platforms allow users to bet on real-life events like elections, cricket matches, or crypto prices.
If the prediction is right — you win money. If not — you lose your bet.
These are not stock exchanges,
They are not registered with SEBI,
And investors have no protection if something goes wrong.
Such platforms might also violate securities laws if they involve betting on financial instruments.
SEBI has instructed stock exchanges to take action against such violations.
Although many of these platforms are popular, India currently lacks proper laws to regulate them, hence SEBI advises investors to avoid them.
8. Unilever to Shut Down Skincare Brand REN
Unilever has announced it will shut down its skincare brand REN.
The company cited internal challenges and tough market conditions as the reasons.
Unilever, known for brands like Dove and Vaseline, said REN has failed to remain sustainable long-term.
The exact closure date isn’t announced yet,
But the brand is expected to shut down by Q3 2025.
The decision was taken after a formal consultation process.
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