Business
Abu Dhabi’s IHC Backs Adani Group Amid US Indictment; Sri Lanka & Tanzania Reaffirm Ties
New Delhi: Abu Dhabi’s International Holding Company (IHC), one of the largest sovereign funds that manages assets close to USD 100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate’s founder chairman Gautam Adani.
“Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors,” IHC, one of Adani Group’s key foreign investors, said in a statement.
“As with all our investments, our team continues to evaluate relevant information and developments. At this time, our outlook on these investments remains unchanged.” IHC had, in April 2022, invested about USD 500 million each in the renewables arm Adani Green Energy and power company Adani Transmission and a further USD 1 billion in the group’s flagship Adani Enterprises. Later, it sold its 1.26 per cent stake in AGEL and 1.41 per cent in ATL, now called Adani Energy Solutions Ltd, but hiked its stake in Adani Enterprises Ltd to over 5 per cent.
The IHC statement comes soon after Adani group emphasised that its chairman and his aides have not been charged under the US Foreign Corrupt Practices Act but faced three other charges, including securities and wire fraud that are punishable with monetary fines.
About The US Department Of Justice’s Indictment Filed In New York Court
The US Department of Justice’s (US DoJ) indictment filed in a New York Court last week does not mention Gautam Adani, founder chairman of the ports-to-energy conglomerate, his nephew Sagar or Vneet Jaain in any count related to conspiracy to violate the FCPA, AGEL – the firm at the heart of allegation of USD 265 million bribes allegedly being paid to Indian officials to secure solar power sale contracts that could benefit bring in USD 2 billion of profits over 20 year period to the firm, had said in a filing to the stock exchange.
The three, who are executives at AGEL, have only been charged with securities fraud conspiracy, wire fraud conspiracy, and securities fraud, the company said. In general, the penalties for such charges are less severe than bribery.
Gautam and Sagar also face a civil complaint over violation of sections of the Securities Act and aiding and abetting Adani Green to violate the Act, the company had said.
Adani Group last week denied all allegations as baseless and said it would seek legal recourse to defend itself.
Sri Lanka Ports Authority Expresses Its Confidence In Its Partnership With Adani
Meanwhile, other international partners have also expressed their continued support. The Sri Lanka Ports Authority has expressed its ongoing confidence in its partnership with Adani, as the Indian group plays a vital role in expanding the country’s port infrastructure.
With USD 1 billion investment in the Colombo terminal, the project is poised to be the largest foreign direct investment in Sri Lanka’s port sector.
Sri Lanka Ports Authority chairman Admiral Sirimewan Ranasinghe (Retd) has reportedly stated that there are no discussions regarding the project’s cancellation. The project will be operational in the next couple of months.
Tanzanian Govt Reaffirms Its Commitment
Also, the Tanzanian government has reaffirmed its commitment to its agreements with Adani Ports, as it feels that there are no concerns regarding the ongoing projects and that all contracts fully comply with Tanzanian law.
In May 2024, Tanzania and Adani Ports finalised a 30-year concession agreement to operate Container Terminal 2 at Dar es Salaam port.
Additionally, Adani Ports acquired a 95 per cent stake in Tanzania International Container Terminal Services, a state-owned entity, for USD 95 million.
Business
Tomato Prices In Mumbai Surge – Know What Are The Current Rates

Navi Mumbai: The APMC wholesale vegetable market saw an increase in tomato prices by over 30 percent in first week of November as compared to the prices in October 2025. According to the report, prices of tomatoes in October were sold in APMC at Rs 16 -20 per kg and have now increased to Rs 20-28 per Kg.
The supply of tomatoes have also reduced on Monday, as report by Loksatta stated that only 2238 quintals of tomatoes arrived in the APMC Market.
According to the report, traders said that cold weather and imbalance production of tomatoes led to the increase in price, adding that in the last few days, the supply of goods from Nashik, Pune and Nagar areas also reduced.
According to the report, farmers have cautioned about crop damage caused by unseasonal rainfall and the current cold weather, stating that there is a significant chance that the produced crop’s flowers and buds will fall.
Several other reports added that the price of green peas, cluster beans have also gone up. Price of green peas increased to Rs 280 per kg, cluster beans reached Rs 200 per kg while that of Tinda (Indian round gourd) have rised to Rs 50 for 250 grams.
According to Regional Meteorological Center,Mumbai, the climate in Pune, Nashik is expected to see dry climate till November 15. Indian Meteorological Department (IMD) Mumbai scientist Shubhangi Bhute added that, “there are no signs of unseasonal rainfall currently. With the northeasterly winds prevailing, the temperature will drop. The weather will be dry and skies will be clear.”
Business
Sensex, Nifty open lower amid mixed global cues

Mumbai, Nov 11: The Indian benchmark indices opened mildly in red on Tuesday, amid progress on the US shutdown bill and optimism regarding an India-US trade deal soon.
As of 9.25 am, the Sensex was down 177 points, or 0.21 per cent at 85,338 and the Nifty inched down 51 points, or 0.20 per cent to 25,523.
The broadcap indices performed better than benchmarks, with the Nifty Midcap 100 down only 0.09 per cent and the Nifty Smallcap 100 losing 0.06 per cent.
TCS, Tech Mahindra and Dr Reddy’s Labs were among the major gainers in the Nifty Pack, while losers included Bajaj Finance, Bajaj Finserv, Shriram Finance and Asian Paints.
Sectoral indices were trading mixed with most of them trading with mild negative bias. Nifty IT was the standout gainer up 0.31 per cent, while financial services, FMCG, Pharma and PSU Bank down 0.71 per cent, 0.49 per cent, 0.16 per cent and 0.57 per cent respectively.
“Nasdaq bounced back 2.2 per cent after the AI trade was weak last week. The return from AI stocks may take longer than expected, but there is no bubble in AI stocks, unlike the Tech bubble that crashed in 2000,” said market watchers.
They noted that Nasdaq PE was above 70 and many tech stocks were above 150 in March 2000, and AI stock PE valuations now range from 28 to 51, while Nasdaq’s PE is 32.
Most of the Asia-Pacific markets rose in early trading sessions on Tuesday tracking Wall Street gains on revived optimism regarding artificial intelligence stocks.
The US markets ended in the green zone overnight, as Nasdaq jumped 2.27 per cent, the S&P 500 added 1.54 per cent, and the Dow inched up 0.81 per cent.
In Asian markets, China’s Shanghai index lost 0.46 per cent, and Shenzhen dipped 0.67 per cent, Japan’s Nikkei added 0.43 per cent, while Hong Kong’s Hang Seng Index eased 0.29 per cent. South Korea’s Kospi jumped 1.38 per cent.
On Monday, foreign institutional investors (FIIs) sold equities worth Rs 4,889 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,787 crore.
Business
Jharkhand: Robbery and firing on trader sparks shutdown in Dhanbad market

Dhanbad, Nov 10: Traders on Monday launched a massive protest after a businessman was robbed and shot at inside the government-run Market Committee complex in the Barwadda police station area in Dhanbad, Jharkhand, late Sunday evening.
The incident has caused concerns over rising crime in Jharkhand’s coal capital, prompting traders to shut all 417 shops in the market complex for the day.
The attack took place around 8.30 p.m. on Sunday when three bike-borne assailants intercepted trader Shyam Bhimsariya while he was closing his shop.
The miscreants fired at him, snatched a bag containing Rs 4 lakh, and sped off. Bhimsariya narrowly escaped the bullet, which reportedly grazed past him. The incident created panic among shopkeepers and customers, many of whom rushed to safety.
On Monday morning, hundreds of traders assembled at the main gate of the Market Committee complex, raising slogans against the administration and demanding immediate arrests. They alleged that the market, which witnesses a heavy footfall, has long been operating without proper security measures.
The Market Committee complex is one of the busiest business hubs in Dhanbad, recording a daily turnover of Rs 7-8 crore.
“We will not tolerate this kind of atmosphere where traders fear for their lives every evening,” a member of the traders’ association said, adding that if the culprits are not arrested within 48 hours, the protest may spread to other markets across the district.
BJP MP Dhullu Mahto, addressing traders, said criminals are “roaming fearlessly” in Dhanbad. “The morale of criminals has gone up due to weak policing. The police must act immediately to restore confidence among traders,” he said.
Jharia Congress MLA Ragini Singh accused the state government of complete failure on the law and order front. “When crime is discussed in the Assembly, the government remains silent. People are living in fear while criminals are dictating terms,” she remarked.
Outgoing Mayor Chandrashekhar Agarwal demanded urgent security measures in the market area, suggesting that CCTV cameras be installed. He said a permanent police post must be established to prevent the recurrence of such incidents.
Dhanbad District Chamber of Commerce president Chetan Goenka strongly condemned the attack and criticised authorities for ignoring repeated requests for better security.
“It is shocking that a market with a daily business of Rs 7-8 crore has neither CCTV surveillance nor police patrolling. Traders cannot operate under fear. The administration must take permanent measures,” Goenka said.
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