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Brokerage firm Bernstein said concerns surrounding the Adani Group following the 2023 short-seller episode and subsequent US regulatory developments now appear largely behind the group, potentially paving the way for a revival in foreign funding and broader investor participation. In a report covering four listed Adani companies - Adani Ports and Special Economic Zone, Adani Green Energy, Adani Power and Ambuja Cements - Bernstein said many global funds had stayed away from the group pending clarity on US-related developments, leaving several stocks under-owned despite strong operational execution. The report said the settlement of the US SEC case and moves by US prosecutors to drop charges against the group had removed a major overhang on Adani stocks, many of which still trade below pre-crisis levels despite a sharp recovery from earlier declines. "The group has gone through two big events in the last 4 years - the short seller event in January 2023 and US SEC-DoJ related ...
Adani Airport Holdings on Thursday announced signing a deal with hospitality firm IHG Hotels & Resorts for developing five hotels across key airport-linked and high-growth urban destinations, including Mumbai, Navi Mumbai and Ahmedabad. The agreement will add close to 1,500 keys across multiple brands and locations, in line with IHG's growth plans for India, Adani Airport Holdings Ltd (AAHL) said. AAHL said it is also in advanced discussions with IHG to further deepen and expand this partnership. The pact also marks IHG's luxury lifestyle boutique brand, Kimpton Hotels & Restaurants' debut in the domestic market. The development aligns with rising travel demand and the rapid expansion of India's aviation, tourism and airport-led urban infrastructure sectors, AAHL said. These five hotels will be developed across Jaipur, Mangaluru, Thiruvananthapuram and the Mumbai Metropolitan Region (MMR), strengthening hospitality infrastructure around major aviation and urban growth ...
The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned its hearing over mining giant Vedanta Group's petitions against the selection of Adani Enterprises' bid for debt-ridden Jaiprakash Associates Ltd (JAL). The insolvency appellate tribunal adjourned the hearing on account of a change in the composition of the bench, which was hearing the two appeals filed by Vedanta Ltd. The change has been made due to the unavailability of a member of the bench. NCLAT will decide the date for the next hearing shortly. Vedanta has filed two petitions, challenging the March 17 order by the Allahabad bench of NCLT, which approved Adani Enterprises Ltd's Rs 14,535-crore bid to acquire JAL through the insolvency process. On March 24, NCLAT declined any interim stay on the order passed by the NCLT approving the Adani Group's bid for acquiring JAL. However, it said the plan would be subject to the outcome of the appeals filed by the Anil Agarwal-led Vedanta Group. This interim order