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All 10 Adani Group stocks plummeted, wiping out almost US$45 billion in group market value. It was the biggest single-day rout the US$189 billion conglomerate has faced, dwarfing the hit from Hindenburg Research’s allegations of corporate malfeasance over a year ago.
Indian shares suffered their biggest drop since 2020 after the Bharatiya Janata Party lost its parliamentary majority.
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NEW DELHI - Indian Prime Minister Narendra Modi is set to win a rare third term in office, but a smaller-than-expected mandate means he will have to lean more on his allies for support, and that means urgently addressing issues like unemployment, inflation and economic disparities in the world's most populous nation.
India’s ruling Bharatiya Janata Party, or BJP, had hoped for a landslide victory in the country’s six-week general election – the largest display of democracy, by far, in a year of voting around the world. But with results still coming in on June 4, 2024, the party, led by Prime Minister Narendra Modi, looked to be heading to only a narrow parliamentary majority.
Indian Prime Minister Narendra Modi has won a historic third term in office, but the governing BJP is projected to lose its majority stake in parliament. The party hoped to win more than 400 seats in a 543-member parliament.
Indian Prime Minister Narendra Modi has claimed victory in the general election, even as his Bharatiya Janata Party (BJP) looks to be falling short of securing a majority of its own and therefore requiring the support of smaller regional allies to return to power.