TMS Ep381: SC on Adani-Hindenburg, employment data, Cipla stocks, and more
What next in the Adani-Hindenburg saga? What do India's employment numbers imply? What do USFDA observations mean for Cipla? What is the New START Treaty?
It's been a month since US-based short-seller Hindenburg Research came out with a damning report on the Adani Group. Ever since, the group's stocks have behaved erratically, keeping investors and regulators on edge. On Thursday, the Supreme Court formed a panel to review regulatory mechanisms and protect the investors' interests. The apex court also told Sebi to complete its probe within two months. What next in this saga now?
So, will the Supreme Court's action in the Adani-Hindenburg saga stem the bleeding in the capital markets? Only time will tell. Meanwhile, India received a piece of positive news from government corridors recently. This was in the form of the Periodic Labour Force Survey report. It presented a positive outlook for employment in the country. Even the unemployment rate is on a steady decline. But what does the fine print say, and what does this report tell us?
The unemployment rate in urban areas had shot up to 20% during the pandemic. So the 4.1% figure indeed suggests a good recovery. Moving on, several Indian drug makers have recently come in the line of fire from the US FDA, which has stepped up its regulatory site inspections after a Covid-19 lull. Cipla too faced the US regulator's ire. What does this mean for the company and its stock?
Over the last year, the Russian invasion of Ukraine has roiled the world economy and financial markets. And adding fuel to the ongoing conflict, Moscow recently suspended a nuclear arms treaty with the United States. So what is this New Start Treaty all about? Listen to this podcast to know more.
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First Published: Mar 13 2023 | 6:11 AM IST