The Adani Group may have to abandon its $16.5 billion Carmichael coal project in Australia - which has been delayed multiple times since 2010 over environmental issues and clearances - unless a royalties deal can be reached with the state government, according to an Australian Minister. The Queensland government has stalled on and so far failed to to agree on the specific terms of the royalties and taxes for the  mine. Adani, which was due to make a final investment decision on May 29, is deferring the decision until it gets clarity. 

State Bank of India (SBI) has put up for sale bad loans worth Rs 1,471.47 crore, offering these to Asset Reconstruction Companies and financial institutions.The bidding process is expected to take place on 9 June. SBI's most significant exposure is to Adhunik Power & Natural Resources, where banks have converted their debt into equity under the Reserve Bank of India’s (RBI) strategic debt restructuring. With Adhunik, SBI has an outstanding exposure of Rs 806.69 crore in the form of debt and Rs 199.57 crore as equity.

Stock in spotlight: Midcap Escorts Limited, whose share price has gained over 240% in the past one year. 

Photo of the day: Participants take part in the extreme water sports festival in the Black Sea. TASS/Barcroft Images