Page 79 - Adani Group

Lok Sabha passes Rs 1.48 trillion supplementary grants without debate

Lok Sabha on Tuesday gave its approval to the central government to spend an additional Rs 1.48 lakh crore during the current financial year 2022-23, amid uproar by Opposition parties on the Adani issue. On March 13, Minister of State for Finance Pankaj Chaudhary had tabled the second batch of supplementary demands for grants in the House amounting to a total of Rs 2,70,508.89 crore. "However, the net cash outgo aggregate is estimated at only Rs 1,48,133.23 crore. The remaining expenditure will be matched by savings of the Ministries/Departments or by enhanced receipts/recoveries aggregates to Rs 1,22,374.37 crore," said the statement on supplementary demands for grants. Of the total additional cash outgo, Rs 36,325 crore is for payment towards fertiliser subsidy. This includes additional subsidy outgo of Rs 21,000 crore for P&K (phosphorus and potassium) and Rs 15,325.36 crore for urea. The second batch of supplementary demands or 'Appropriation Bill (No 2), 2023,' was passed ...

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Powered by US boutique investment firm GQG, FPIs turn net buyers

FPIs bought equities worth $1.52 billionbetween March 1 and 15, the most since November 2022, acco­rding to National Securities Depo­sitory data

Mundra petrochemical work suspended as finances not tied-up yet: Adani

Embattled Adani Group on Monday said it has put on hold major equipment procurement and site construction activities for the Rs 34,900 crore petrochemical project at Mundra in Gujarat as the project has not yet tied up finances. The group's flagship Adani Enterprises Ltd (AEL) incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd in 2021 for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in the Kutch district of Gujarat. Asked by stock exchanges to comment on a PTI report on Sunday that the group has suspended work on the project, AEL said, "The financial closure of the Green PVC project of Mundra Petrochemicals Limited ( MPL) is pending with the financial institutions and it is in their active consideration." Due to recent market developments, the management has decided to continue with the engineering design and other activities including financial closure in an accelerated mode, it said. "Pending the above, it has been deci

Don't change anything to please market, Rajiv Jain tells Adani Group

Chairman of GQG Partners says group has 'remarkably good assets'

Adani Green trades firm in weak market; stock zooms 94% in 13 days

On March 2, 2023, GQG Partners, a leading US based Global Equity investment boutique, purchased 55.6 million equity shares of AGEL for Rs 2,806 crore at price of Rs 504.60 per share.

RS adjourned till 2 pm as govt, oppn trade barbs over Rahul, Adani issues

Rajya Sabha proceedings were adjourned within minutes of the House assembling for the day on Monday, as the ruling and opposition parties traded barbs over Rahul Gandhi's 'democracy in danger' remark in London and a demand for a probe into allegations against the Adani Group. Both the ruling BJP and the opposition parties shouted slogans in support of their demands, prompting Chairman Jagdeep Dhankhar to adjourn the proceedings till 2 pm. Dhankhar said he had received notices under rule 267-9 from Congress members, including Pramod Tiwari, Rajneet Ranjan, Kumar Ketkar, Syed Nasir Hussain, Amee Yajnik, AKhilesh Prasad Singh, Neeraj Dangi and Mukul Wasnik, to discuss the failure of the government to constitute a joint parliamentary committee (JPC) to look into allegations of accounting fraud and stock market manipulation against the Adani Group. Binoy Viswam (CPI) and Elamaram Kareem (CPM) wanted a high-level probe monitored by the Supreme Court into the allegations made by US-based .

3 Adani group stocks out of ASM, Should you be bullish?

Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles

Pramod Tiwari gives suspension of business notice to discuss Adani issue

The Congress leader said in a statement that he had moved the motion to discuss the need to constitute a JPC to investigate the "government's role in promoting the business interests of Adani Group"

Hindenburg fallout: Adani suspends work on Rs 35K-cr petchem project

Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project

FPIs invests Rs 11,500 crore in Indian equities in March thus far

Foreign investors have put in Rs 11,500 crore in the Indian equities so far this month, mainly driven by bulk investment from the US-based GQG Partners in the Adani Group companies. Going ahead, FPIs may take a cautious stance in their approach in the coming days following the collapse of the US-based banks -- Silicon Valley Bank and Signature Bank -- that dented sentiments in the market, experts said. According to the data with the depositories, Foreign Portfolio Investors (FPIs) invested Rs 11,495 crore in Indian equities till March 17. This came after a net outflow of Rs 5,294 crore in February and Rs 28,852 crore in January. Prior to that, FPIs infused a net amount of Rs 11,119 crore in December, data showed. "This (inflow in March) is inclusive of the bulk investment of Rs 15,446 crore by GQG in the four Adani stocks," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Excluding this, FPI activity in equities represent a strong selling ...

Shares of seven Adani Group end higher, Adani Enterprises jumps 2%

Shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets. At the close of the session, seven of the group firms including Adani Enterprises closed in the green territory while three were in the red. Shares of Adani Enterprises climbed 1.88 per cent to settle at Rs 1,877.15 per scrip on BSE. The flagship firm's market valuation rose to Rs 2.13 lakh crore. Adani Transmission closed at Rs 1,024.85 and Adani Green Energy at Rs 816.80. The scrip of these companies bounced 5 per cent each and also closed at their upper price bands on the bourse. Shares of Adani Wilmar jumped 1.52 per cent to end at Rs 427.35 apiece, Adani Total Gas rose 1.07 per cent to settle at Rs 897.95 and Adani Power went up 0.60 per cent to close at Rs 199.95. Also, shares of Adani Ports and Special Economic Zone (APSEZ) gained 0.14 per cent to settle at Rs 680.10 per scrip on the BSE. On the

Cong says NSE lifted ASM on Adani Group stocks, questions SEBI's 'inaction'

The Congress claimed on Friday that the National Stock Exchange (NSE) has lifted additional surveillance on some Adani Group company stocks and asked why stock exchange regulator Securities and Exchange Board of India (SEBI) is standing by and allowing investors to take on added exposure to such stocks. Congress general secretary, communications Jairam Ramesh posed questions on Twitter to Prime Minister Narendra Modi on the Adani issue as part of the opposition party's "Hum Adanike Hain Kaun" series. "Another day of adjournment and protest. The PM-linked Adani 'Maha Mega Scam' continues to be the subject of agitation by the Opposition and stonewalling by the Government. Here is HAHK (Hum Adanike Hain Kaun)-31. Chuppi Todiye Pradhan Mantriji," Ramesh said in a tweet. He claimed that even as global index providers such as MSCI, S&P Dow Jones and FTSE Russell reviewed the position of the Adani stocks in their equity indices, the NSE went the other way and included five Adani Group ...

Parliament adjourned till March 20 amid protests by treasury benches, oppn

Parliament was adjourned for the day on Friday amid continued protests by both treasury benches and opposition members over Rahul Gandhi's remarks and Adani issue

Vinod Adani part of promoter group of various listed firms: Adani Group

This comes after questions were raised about his status following short-seller Hindenburg Research naming him prominently in its January report

Vinod Adani part of promoter group of various listed firms: Adani Group

This comes after questions were raised about his status following short-seller Hindenburg Research naming him prominently in its January report

Oppn-govt logjam over Rahul vs Adani likely to continue in Parliament

The opposition will on Friday press for the demand of a JPC in the Adani-Hindenburg row while the BJP is demanding an apology from the former Congress President Rahul Gandhi on his remarks in London

Parliament logjam on; Rahul says he has right to respond to allegations

The logjam in Parliament continued for the fourth successive day on Thursday with the ruling BJP and opposition parties sticking to their stands

NSE, BSE remove 3 Adani group stocks from short-term surveillance

The National Stock Exchange (NSE) and the BSE has announced that three Adani group companies -- Adani Enterprises, Adani Power and Adani Wilmar -- will move out of the short-term additional surveillance measure (ASM). The stocks will be excluded from the short-term ASM framework with effect from March 17, according to separate circulars available on the exchanges. The NSE and the BSE had put the three Adani group firms, including the flagship firm Adani Enterprises, under the ASM framework on March 8. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. In addition, the NSE said that on these securities, "margins to be restored prior to ASM on all existing derivative contracts." Tata Teleservices (Maharashtra) Ltd (TTML) is also another stock that was excluded from the framework. "Applicable rate of margin shall be 50 per cent or existing margin ..

Vinod Adani is part of promoter group of listed entities: Adani group

Vinod Adani, the little known elder brother of Adani group founder Gautam Adani, is part of the promoter group, the conglomerate has said after questions were raised about his status following short seller Hindenburg Research naming him prominently in its scathing report on the Adani group. "We would like to submit that Gautam Adani and Rajesh Adani are individual promoters of various listed entities within the Adani group and Vinod Adani is an immediate relative of the individual promoters," the group's flagship Adani Enterprises said in a stock exchange filing on Thursday. Accordingly, as per the applicable Indian regulations, "Vinod Adani is part of the 'promoter group' of various listed entities within the Adani group." In response to Hindenburg questioning the role of Vinod Adani, 74, in the Adani group where it alleged "brazen stock manipulation and accounting fraud" and use of offshore shell companies to inflate stock prices, the apples-to-airport conglomerate had in January