It contains posts on latest happenings in business and economy.
The US based Hindenburg Research report accusing the Adani Group of brazen stock manipulation and accounting fraud brought a Tsunami in the stock market and Adani group companies’ stock price tumbled like a pack of cards wiping out $108 billion market cap in ten days. As share prices tumbled, Adani fell from global rank 3 to 21 in just ten days as per Bloomberg. Is the Adani bubble burst?
When the COVID pandemic brutally destroyed the world economy and companies across the globe, the tech companies flourished in this pandemic that started in early months of 2020. The global shift in habits helped the big tech companies Google, Amazon, Facebook, Apple and Microsoft (GAFAM), earned unexpected revenues in the pandemic year, better than normal years. The Tech giants – Amazon and Apple posted record revenues with both companies topping $100 billion in quarterly revenue for the first time in the final quarter of 2020. These companies earned over Rs 1.5 cr to Rs 6 cr per minute with net profit increment in the range of 44% to 220% in Q1 of 2021.