Dealing in 3 Adani shares under Sebi lens
Swiggy's losses have jumped 80% in FY23; Dealing in three Adani companies are under Sebi lens; AI get CCI notice on Vistara merger
Adani Group remained in focus on Wednesday due to 2 news reports. The first news is that the deals in the shares of 3 companies of Adani Group are on the radar of market regulator SEBI. According to a report, this matter is related to Adani Power, Adani Green and Ambuja Cement. It has been said in the report that SEBI suspects insider trading in some dealings in the shares of these three companies. At present, SEBI is collecting information regarding the dealings of shares. The second news is that Adani Group Chairman Gautam Adani has alleged that some people used the Hindenburg Report for their own selfishness and that Misconceptions were created on the news and social media platforms.
Swiggy’s losses jump 80% YoY
Online food and grocery delivery platform Swiggy’s losses jumped 80 per cent year-on-year (YoY) in FY23, even as gross merchandise value (GMV) of its food delivery business grew 26 per cent, the company’s biggest investor Prosus said in its annual financial report on Tuesday. On the other hand, Prosus’ fintech investment PayU witnessed its revenue jump 31 per cent in FY23 to $399 million but saw a trading loss of $10 million as it shut down its LazyPay card business. It said PayU India is close to a breakeven.