Top headlines: Adani counters Hindenburg charges, rupee undervalued by 40%

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PSE dividends likely to cross govt's target for first time in 8 years

The Central government in 2022-23 is close to exceeding its dividend target from its public sector enterprises (PSEs) for the first time in eight years.

The government has so far garnered Rs 36,835 crore, which is 92 per cent of the Budget estimate of Rs 40,000 crore. Read more... 

Adani counters Hindenburg charges, says top firms are auditing 8 group cos

The Adani group has said the alleged accounting or fraud-type assertions or “investigation” by US-based Hinderburg Research is "devoid of facts" as of the group’s nine public listed entities, eight are audited by one of the big-six auditing companies.

The company said it acts as an incubator and has businesses in various sectors and subsidiaries and associates spread over eight jurisdictions. Read more...

Worst over for global economy, 'softer recession' likely: RBI governor

The global economy is expected to contract significantly this year but the worst seems to be behind us, both in terms of growth and inflation, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday. Read more...

Burgeronomics: Big Mac index suggests rupee is undervalued by over 40%

An index that illustrates currency valuation using the price of a McDonald’s burger points to increasing undervaluation of the Indian rupee relative to the dollar.

The Big Mac index suggests that the rupee is undervalued by 43.3 per cent relative to the dollar, after gross domestic product (GDP) adjustments, according to a note from The Economist publication, which calculates the index values on a periodic basis. The reading for January 2022 suggested a 28.5 per cent undervaluation, pointing to a widening gap over time. Read more...

With plans to commission 20 plants, India looks to tap nuclear power faster

Recent government announ­ce­ments on accelerating the use of nuclear power in India suggests a significant increase in the pace.

Earlier in January, Union Minister Jitendra Singh said that public sector companies wo­­­uld be roped in to help build plants. Plans are afoot to commission at least 20 nuclear pow­­er plants by 2031, according to a December Lok Sabha reply. Read more...