The Hindu Editorial Analysis
The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.
Adani looks to sell.
- Adani group chairman Gautam Adani is seeking to sell a stake in Ambuja cement which he acquired from Switzerland’s Holcim last year, the Financial Times reported on Friday.
- He has made a formal request to international lenders to sell 4-5% of Ambuja Cements worth about $450 million, the report said.
- Adani owns 63% of Ambuja Cements.
- Within weeks of closing the deal, the group had borrowed a large sum of money against the cement producer’s shares and offered an undertaking to lenders that he will not dispose of his stake in the company. All the lenders were foreign banks.
- If Adani sells a stake in Ambuja Cements, it will be his group’s first asset divestment after the damning Hindenburg report.
- While Hindenburg had flagged concerns about the Adani Group’s high debt, the business tycoon has maintained that servicing the conglo- merate’s Rs 2,3-lakh-crore debt will not be an issue.
- In Friday’s market, the Ambuja Cements stock on the BSE closed 17% down, while ACC was down 0.7%. The day’s session was another mixed bag for the group’s 10 stocks, three of which closed at the 5% upp- er circuit, while one closed at the 5% lower circuit.
- The group’s market cap Inched up further, by another Rs 7,799 crore to Rs 9.3 lakh crore, BSE data collated. In the last eight sessions, the group’s market value has gone up by nearly Rs 2.5 lakh crore. However, it’s still Rs 9.9 lakh crore off its pre-Hindenburg market cap level of Rs 19.2 lakh crore.
- Adani had acquired Ambuja Cements and its arm ACC for $6.5 billion in September 2022. Leading bourses NSE and BSE on Friday said Adani Transmission and Adani Total Gas will be put under the second stage of the long term additional surveillance measures framework.
- Why does Adani is looking to sell 4-5% in Ambuja cements?
- What do you understand about the NSE and BSE? Explain in detail.
- Bourses- stock market in a non-English-speaking country
- Divestment- selling a stake in a company
- Collated- collect information from different places in order to put it together
- Wager- risk against someone else’s on the basis of the outcome of an unpredictable event
- Grievance- something that you think is unfair and that you want to complain or protest about
- Ambiguous- having more than one possible meaning
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