SEBI slams 226, Adani and IHC pledge $11.5 bn

SEBI’s 394‑page order details a Rs 143.79‑crore pump‑and‑dump scheme that inflated five small‑cap stocks by creating fake trading volumes and luring retail investors with bulk SMS. The regulator pieced together airline bookings, hotel stays, food‑order and WhatsApp data to pinpoint 226 entities, levying Rs 47.8 crore in penalties and barring most for four to seven years.

Adani Enterprises and Abu Dhabi’s International Resources Holding signed a 50‑50 MoU to build a $11.5 bn integrated aluminium complex in Odisha, a 4 MMTPA alumina refinery, 2 MMTPA smelter, 4 GW power plant and a downstream park. The project, the largest FDI in India’s metallurgy, will create about 53,500 jobs and cut the country’s reliance on imported aluminium for EVs and other industries.

IRDAI has granted a certificate of registration to Prudential HCL Health Insurance Ltd, the joint venture between Prudential Group (70%) and HCL Group (30%). This makes it India’s eighth standalone health insurer and advances Prudential’s domestic push following its planned ₹3,500‑crore Bharti AXA Life acquisition, boosting competition in a rapidly growing market.

Zee Entertainment’s board approved a ₹3,143.5 cr preferential warrant issue to Sunbright Mauritius Investments, raising its stake from 0.18% to over 20%. The move lifts the Goenka family’s total holding to just under 25%, giving the promoters a stronger equity cushion for upcoming strategic initiatives.

Amazon Leo submitted a detailed response to TRAI's Consultation Paper No. 06/2026, urging a flexible Satellite Communication Network (SCN) framework and non‑auction spectrum allocation to speed broadband rollout. Reliance Jio, meanwhile, is lobbying for spectrum to be auctioned, turning the proposal into a regulatory showdown that will decide how fast satellite internet reaches India’s underserved regions.

The Indian government erased ₹2,700 cr in CAFE‑2 fuel‑efficiency fines for 18 major automakers, effectively resetting their compliance liabilities. It also pushed the deadline for meeting future CAFE‑3 standards to September 2027, giving the sector breathing room but diluting the original emissions push.

India and Japan released roughly 120 agreements worth 2 trillion yen, targeting AI, supply‑chain resilience, energy and defence. The pact aims to channel 10 trillion yen of Japanese investment into India over the next decade, reshaping Indo‑Pacific tech ties amid rising strategic competition.

Japan is committing a $3 bn Contract‑for‑Difference grant that guarantees 25‑year price support for 228,000 tonnes of green ammonia from ACME‑IHI’s Gopalpur plant starting in 2030. The deal locks in Japanese off‑takers, de‑risks financing and turbo‑charges India’s National Green Hydrogen Mission.

The Reserve Bank of India told a parliamentary panel that virtual digital assets like cryptocurrency pose a systemic threat to the Indian economy, citing risks of illicit finance and loss of monetary control. The stance signals tighter regulatory scrutiny and dampens hopes for crypto legalization in India.

After a 16‑year legal fight, the Delhi High Court division bench affirmed that the National Stock Exchange is a ‘public authority’ under the RTI Act. The ruling means the NSE must now disclose information like any government body, tightening transparency for India’s key market operator.

SP Group plans to issue ₹25,500 crore of bonds at an 18.95% coupon, using its Tata Sons stake as security. The steep rate signals strained credit conditions for borrowers in India and could set a benchmark for high‑yield corporate financing.

AI firms are outbidding phone makers for DRAM, pushing RAM prices up more than threefold since Oct 2025. Samsung and Xiaomi must now sacrifice features on budget models to keep prices stable, while premium devices absorb the cost. The squeeze threatens to ripple across the wider consumer‑electronics market.

Russia, reeling from Ukrainian drone strikes that knocked offline about 30% of its refining capacity, has turned to India for gasoline imports. An initial shipment of around 60,000 metric tons arrived, and Moscow plans to import up to 400,000 tons a month to cover a daily deficit of roughly 25,000 tons.