Page 82 - Adani Group

Adani Enterprises, ACC: Time to sell Adani group stocks after a sharp run?

Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.

Adani repays all share-backed loans, informs investors to regain faith

The London meeting was part of a worldwide roadshow aimed at reassuring international investors that the ports-to-power empire's finances are under control

Adani Group rout puts spotlight on billions flowing through Mauritius

The accusations against Adani - some reported by local media years before Hindenburg dropped its report - come at an uncomfortable time for Mauritius

Congress workers stage protest in Pune, seek ED, JPC probe in Adani group

Congress workers staged a protest outside a State Bank of India (SBI) branch in Pune city on Wednesday and demanded that Adani group's financial affairs be probed by the Enforcement Directorate (ED) and also a Joint Parliamentary Committee (JPC). Pune city Congress president Arvind Shinde and other party leaders participated in the protest outside the SBI branch near Pune collectorate. "Our leader Rahul Gandhi has been demanding a Joint Parliamentary Committee probe into the Adani group share crash issue, but no probe has been initiated so far. SBI and LIC's investments in Adani group shares have received heavy losses. Who told LIC and SBI to invest money in Adani group shares?" Shinde asked. He said it was the Supreme Court that ordered setting up of a six-member committee to look into various regulatory aspects for stock markets, including the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations. "Was it not the government's responsibility to

TMC to raise Adani issue, price rise in 2nd leg of Budget Session: O'Brien

The TMC will raise in Parliament issues such as the LIC and SBI's risk exposure, price rise of essential commodities, unemployment and "misuse" of central agencies during the second phase of the Budget Session, its Rajya Sabha floor leader Derek O'Brien said Wednesday. He said West Bengal Chief Minister and TMC supremo Mamata Banerjee and the party's all-India general secretary Abhishek Banerjee decided on the floor strategy in a meeting also attended by the party's floor leaders of the two Houses. Sudip Bandyopadhyay is the TMC's Lok Sabha floor leader. O'Brien said that LIC's exposure to the Adani Group and price rise affect the lives of the common man and should be highlighted. The LIC and SBI's exposure to the Adani group were raised by the opposition parties in the first leg of Parliament's Budget Session which saw multiple disruptions. The Trinamool Congress will also raise the issue of "political vendetta" against non-BJP ruled states in Parliament and also question the Uni

GQG Partners likely to increase investment in Adani, says Rajiv Jain

GQG Partners' founder Rajiv Jain said on Wednesday the fund manager would likely expand its $1.9 billion investment in the Adani group

Adani Enterprises surges over 70% in the last 6 trading sessions

Some of the group stocks also hit their upper circuit levels after the group announced that it has repaid share-based financing of Rs 7,374 crore

TMS Ep385: India's economic indicators, GQG, markets, Phone Link app

What do India's economic indicators say about Q3 consumption? Why is Rajiv Jain's GQG gung ho on Adani? What are the risks looming over stock markets? What's Microsoft's Phone Link app? Answers here

Adani Enterprises rallies 3%, closes at month's high after 6-day streak

Shares of Adani Group companies closed higher on Wednesday, with the flagship Adani Enterprises closing at a month's high following a six-day gaining streak. Some of the group stocks also hit their upper circuit levels after the group announced that it has repaid share-based financing of Rs 7,374 crore (over USD 900 million) and will prepay all such remaining loans by the end of the month. The NSE and the BSE on Monday announced that the flagship Adani Enterprises will be moved out from the short-term additional surveillance measure (ASM) framework, which also bolstered the group stocks. Adani Enterprises shares climbed 2.86 per cent to end at Rs 2,039.65 on the BSE to extend gains for a sixth day on the trot. The market capitalisation of the flagship firm rose to Rs 2.32 lakh crore as the stock soared nearly 70 per cent in the six-day rally. In addition, shares of Adani Ports and Special Economic Zone (APSEZ) spurted 3.22 per cent to settle at Rs 712.75. Adani Power closed higher

Adani Group loan repayment: How do promoters raise money through pledging?

Adani Group: The repayment of the loan will release the pledge on shares of promoters in four Adani Group companies, Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission

Adani shares gain up to 5% after Group repays Rs 7,374 cr share-backed loan

So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.

GQG founder to meet Australian investors after $1.9 bn Adani investment

Investment firm GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week and will explain its investment into embattled Indian conglomerate Adani Group

Adani Power amalgamates six subsidiary companies including Mundra

Adani Power on Tuesday said it has amalgamated its six subsidiaries, including Adani Power (Mundra), with itself. An amalgamation of six wholly-owned subsidiary companies of Adani Power Ltd (APL) -- Adani Power Maharashtra Ltd (APML); Adani Power Rajasthan Ltd (APRL); Udupi Power Corporation Ltd (UPCL); Raipur Energen Ltd (REL); Raigarh Energy Generation Ltd (REGL) and Adani Power (Mundra) Ltd (APMuL) -- with APL was sanctioned by the Ahmedabad-bench of National Company Law Tribunal on February 8, 2023, a BSE filing stated. "We wish to update that all the conditions stated under the Scheme for making it effective have been satisfied, and hence the Scheme is now effective from the Appointed Date i.e. October 1, 2021, as specified thereunder," it said. The six companies -- APML, APRL, UPCL, REL, REGL and APMuL -- now stand amalgamated with APL, it added. Accordingly, it said, the company will publish financial statements for FY 2022-23 based on amalgamation and will also recast ...

CRISIL reaffirms ratings for Adani Group's solar, wind power units

The shares of listed Adani group companies have witnessed huge volatility in prices after US-based short-seller Hindenburg's research report

Embattled Adani Group repays share-backed financing worth Rs 7,374 crore

Embattled Adani Group on Tuesday said it has repaid share-based financing of Rs 7,374 crore (over USD 900 million) and will prepay all such remaining loans by the end of the month, as it looks to allay concerns over leverage and debt to win over investors. The repayment will release pledge on shares of promoters in four group companies, it said in a statement, adding that together with repayments done earlier, the group has prepaid USD 2.016 billion of share-backed financing. In September last year, CreditSights, a Fitch Group unit, said the group was "deeply overleveraged" as it used debt to expand an empire centred on ports and coal mining to include airports, data centres and cement as well as green energy. In a January 24 report, US short seller Hindenburg Research flagged "substantial" debt levels at the group while alleging accounting fraud and use of offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them "malicious", .

Adani Group pre-pays over $900 million worth share-backed financing

Adani Group has been looking to ease concerns about its credit profile after a U.S.-based short seller noted high debt and alleged improper use of offshore tax havens and stock manipulation

GQG founder to meet Australian investors after $1.9 bn Adani investment

GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout

Congress has lost opportunity by not supporting Oppn over Adani issue: AAP

The AAP on Monday attacked the Congress, saying the grand old party lost an opportunity by not supporting the Opposition in the fight over the issues of Adani and raids by central agencies. AAP national spokesperson Saurabh Bharadwaj also took a dig at Rahul Gandhi and said that Prime Minister Narendra Modi wins the elections as he gets to choose his competitor who is the former Congress chief. Bharadwaj made the remarks at a press conference here. When asked about the Congress not being a signatory to the letter written by some opposition leaders to PM Modi alleging "blatant misuse" of central agencies, the AAP leader said, "Congress had an opportunity to support the Opposition over the Adani issue and the CBI-ED raids. But they sided with the BJP." "They (Congress) are saying in 95 per cent of the cases the raids are wrong. What the Congress means by saying that is they (raids) are 95 per cent wrong when they happen with Congress leaders but are five per cent correct for other ..

Stock exchanges remove Adani Enterprises from short-term ASM framework

The move effective from March 8, will ease trading restrictions, such as higher margin requirements, while dealing in shares of AEL

Adani largest Indian investor in Australia, no impact on business: Envoy

Australian High Commissioner Barry O'Farrell on Monday said the Adani Group has successful businesses and continues to be the largest investor from India in Australia. Interacting with reporters here, O'Farrell said the impact of the Hindenburg report on the Adani Group is a matter for India's regulators and that there have been no reports about the business group ceasing operations in Australia. "Mr Adani's investments in Australia are fully functioning and fully providing the resources, whether it is clean energy or coal. There have been no reports that I have seen in Australia that his operations have ceased. So, he is still a significant investor from India in Australia," the envoy said in response to questions on the Adani Group. Adani Group operates a port terminal, coal mines and solar energy projects in Australia. The Australian envoy added that the Adani Group is probably the largest investor from India in Australia. "He has successful businesses in Australia. In countrie