Adani's shares continue to fall, and LIC's investment value decreased by 50 thousand crores in a month

The value of LIC's investment as on january 24, 2023, before the Hindenburg report was Rs 81,268 crore. It came down to Rs 33,149 crore on Thursday. read some major news related to the business world ...

The fall in the shares of adani group companies has been going on for a month. During this period, the investment value of lic in the shares of the group has decreased by more than Rs 50 thousand crore. The value of LIC's investment as on january 24, 2023, before the Hindenburg report was Rs 81,268 crore. It came down to Rs 33,149 crore on Thursday.LIC had invested Rs 30,127 crore in shares of seven adani group companies. It had increased beyond Rs 81 thousand crores. But, now it is 33,149 crores. Despite this decline, lic is in profit of 3,000 crores. The way the shares continue to fall, there is a possibility that lic may suffer losses on the investment.

Shares of 8 out of 10 adani Group companies declined on Thursday. Of these, the shares of three companies remained in the lower circuit. However, the shares of the two companies continued to gain. Due to the fall in shares, the total market capitalization of the group decreased by Rs 20 thousand crore to Rs 7.38 lakh crore. It was Rs 7.58 lakh crore on Wednesday. The capitalization of group companies has decreased by Rs 11.82 lakh crore in the last month. Group owner gautam adani has slipped to the 26th position in the rich list.

On thursday, gold became cheaper by Rs 305 and closed at Rs 56,035 per 10 grams in the delhi bullion market. Due to the softening of precious metals in the global market, prices have come down in the domestic market. silver also became cheaper by Rs 805 and closed at Rs 65,095 per kg. Saumil gandhi of hdfc Securities said gold remained soft on Comex. gold remained at $ 1,827 an ounce in the global market.

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The rupee strengthened by 15 paise to close at 82.73 against the dollar on Thursday. Rupee strengthened in line with regional currencies amid a fall in crude oil prices. The rupee opened at 82.78 at the Interbank Foreign Exchange market. During the business, it remained in the range of 82.71 to 82.79.

The labor-intensive apparel sector will contribute significantly to reaching the country's merchandise exports to one trillion dollars by 2030. The Apparel Export Promotion Council on thursday said the incentives provided in the budget would help the industry focus on market and production diversification.

Amid ongoing layoffs across the world, the country may see an average salary hike of 10.3 percent this year. This increase in wages will be the highest among major large economies and Asian countries. However, in 2022, the average salary of employees in the country increased by 10.6 percent. 

According to a report by Aon Plc, despite global challenges, salaries will continue to rise by double digits due to high attrition rates. The job leaving rate in india in 2022 was 21.4 percent, which is quite high. Companies are insisting on wage hikes only to stop the employees. The average wage increase in brazil this year could be 7.2 percent. indonesia is expected to grow by 6.7 percent, china by 6.3 percent, the philippines by 5.9 percent, malaysia by 5.2 percent and singapore by 4.8 percent.

E-commerce company flipkart said that it will not increase the salary of the top 30 percent of employees this time. This decision of the company may affect about 4,500 employees. Employees were informed about this through an e-mail. flipkart said, there will be no increase in the salary of senior employees in grade 10 and above. Managers and vice presidents etc. are included in this grade. However, the bonus will continue to be paid to the employees as per the scheme. The increment is expected to start on april 1, 2023.

The country's top oil and gas producer ONGC will invest $2 billion to drill 103 wells in its main gas field in the Arabian Sea. The company's director (coastal) Pankaj Kumar told on thursday, this can increase the total production by about 100 million tonnes. ONGC has three main assets on the west coast. india imports 85 percent of its crude oil requirements.

New Delhi. capital market regulator SEBI has imposed a three-year ban on capital Worth Research and its partners from providing investment advisory services. Along with this, the regulator has ordered to return of Rs 1.54 crore in three months. The order issued on thursday will also apply to capital Worth partners Ankit Srivastava, Amir Sheikh, shahid Rangrez, and sameer Memon.

On december 1, 2022, the DigiYatra facility was launched at delhi, Bangalore, and varanasi airports. It will be started by march 2023 at Kolkata, Pune, Vijayawada, and hyderabad airports. DigiYatra is a biometric boarding system that uses facial recognition technology to provide a seamless and hassle-free experience to passengers at airports