The US SEC is actively working to serve legal documents to Gautam Adani and his nephew Sagar in India, concerning a securities case filed in November 2024. The case alleges false statements related to a bond offering by Adani Green Energy Ltd. The SEC is pursuing service through the Hague Service Convention, as the defendants are based in India.
Despite a brief surge in oil prices due to geopolitical tensions, India's macroeconomic health remains strong, characterised by subdued inflation and growth-supportive policies. While risks from potential oil supply disruptions persist, India is well-positioned to navigate global challenges. The government aims to further boost productivity through strategic missions and deregulation, fostering economic resilience and growth momentum.
Torrent Pharma is in advanced talks with KKR to acquire JB Chemicals and Pharmaceuticals, reviving discussions from last year. The deal involves Torrent acquiring KKR's 47.84% stake and launching an open offer, potentially leading to a Rs 20,734.61 crore buyout. This acquisition would bolster Torrent's branded generics portfolio and provide entry into the CDMO business.
Global shares were mostly higher on Friday as the week was winding down with the Israel-Iran ceasefire still in place and signs of progress on a China-U.S. trade deal.
