Page 89 - Adani Group

Top headlines: RBI to frame norms for GIFT, India loses 2.02 mn taxpayers

Business Standard brings you the top headlines at this hour

Signs that Adani shock for India's $3.1 trn stock market is ebbing fast

Fund managers see India's main equity indexes both ending the year higher than current levels, according to a Bloomberg News survey, as strong domestic demand boosts corporate earnings

Adani credit facilities expose collateral web full of red flags

Since short-seller Hindenburg Research published its critical report on Jan 24, investors have responded to its allegations of fraud and market manipulation by selling Adani shares

Adani-Hindenburg row: SC no to govt's sealed cover names for panel

Top court says says will set up a committee itself to ensure 'full transparency'

Adani crisis: BJP hits back at billionaire investor George Soros

To a question, Irani said Soros's statements should not be merely seen as an attempt to tarnish Modi's image as he is also talking about changing the government

MSCI Inc will speed ESG ratings reviews after silence on Adani companies

One of the market's most popular ESG index providers says it will speed up its review of companies, after it failed to address allegations of poor governance at the Adani Group companies as quickly as

Billionaire Raj: The rise of India's multi-business conglomerates

The experience of South Korea, Japan and Russia has shown that the conglomerate model often comes with political connections, but such comparisons can be overblown, writes T N Ninan

Court should check 'truthfulness' of Hindenburg report on Adani: Government

The Supreme Court is yet to issue an order on setting up a panel proposed to examine investor protection mechanisms in the wake of Hindenburg Research's Jan. 24 report

Adani row: Supreme Court 'no' to Centre's sealed cover suggestion on panel

The Supreme Court on Friday refused to accept in a sealed cover the Centre's suggestion on a proposed panel of experts for strengthening regulatory measures for the stock market. Observing that it wants to maintain full transparency in the interests of investors, a bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said it would rather not accept the Centre's suggestion in a sealed cover. "We will not accept the sealed cover suggestion by you because we want to maintain full transparency," the bench said. On February 10, the top court had said the interests of Indian investors need to be protected against market volatility in the backdrop of the Adani Group stock rout and asked the Centre to consider setting up a panel of domain experts headed by a former judge to look into strengthening the regulatory mechanism. Till now, four PILs have been filed in the top court on the issue by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya ..

Sensex snaps 3-day winning run, sheds 317 pts; Banks, realty shares decline

CLOSING BELL: The NSE Nifty 50 slipped 92 points to settle at 17,944. L&T, Hero MotoCorp, UltraTech Cement bucked the trend, while Adani Group shares ended mixed on Friday.

Adani-Hindenburg row: Why is PM afraid of ordering JPC probe, asks Congress

Targeting Prime Minister Narendra Modi over the Adani-Hindenburg row, the Congress on Friday asked why he is afraid of ordering a Joint Parliamentary Committee (JPC) probe into the fraud allegations against the Adani Group and who he is trying to save. Small investors lost Rs 10.5 lakh crore due to the Adani Group and government regulators like the Securities and Exchange Board of India and the Reserve Bank of India are "silent", Congress national spokesperson Gourav Vallabh said at a press conference here. He was here as part of the Congress series "Hum Adani Ke Hai Kaun" (How are we related to Adani). Adani Group stocks took a beating after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group in a report released on January 24. The Adani Group has dismissed the allegations as lies. Opposition parties, including the Congress, have been demanding a JPC pro

Why related party transactions may need more regulatory attention

The practice picked up during the pandemic, come into focus as Adani controversy unfolds

Adani vs Hindenburg: SC to hear PILs, mull over setting up experts' panel

The Supreme Court is scheduled to hear during the day a batch of PILs on the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations and is likely to mull over setting up of a panel of domain experts for strengthening existing regulatory measures for stock exchanges. The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes. Stressing that statutory bodies like market regulator Securities and Exchange Board of India (SEBI) are fully equipped and are on job, the central government had expressed apprehensions that any unintentional message to the investors that regulatory bodies in India needed a monitoring by a panel may have some adverse impact on the flow of money into the country. The Centre had told the

Adani's crisis to spark democratic revival in India, says George Soros

The fallout from US short seller Hindenburg Research's attack on the conglomerate threatens to hurt investor confidence in India, has fueled concerns about the country's regulatory framework

Top headlines: GST council meet, non-BFSI Q3 profit shrinks, and more

Business Standard brings you the top headlines at this hour

Adani Green to disclose refinancing plan after fiscal year ends: Report

One of its subsidiaries, Adani Green Energy Limited Restricted Group, will refinance existing bonds through a 15-year amortizing private placement, the executive said, according to the sources

MSCI delays index weighting changes for two Adani companies to May review

The reversal of the updates to Adani Total Gas and Adani Transmission in the February index review will be reflected in the MSCI Index Product files starting from Feb. 16, MSCI said

Adani Group aims to tackle debt deadlines with cash, private notes

The management said on the call it was seeking to cut the group's net debt to below three times Ebitda (earnings before interest, taxes, depreciation, and amortization) next year

Adani says appointment of Grant Thornton as auditor 'market rumour'

Adani group's flagship firm on Thursday termed as 'market rumour' reports of the embattled group hiring Grant Thornton to audit books in the aftermath of the Hindenburg crisis. In a stock exchange filing, Adani Enterprises said the reports "appears to be a market rumour and hence it would be inappropriate on our part to comment on it." On Tuesday, sources had stated that the group has appointed accountancy firm Grant Thornton for an independent audit of a few of its companies to come clean after the allegations levelled by US short-seller Hindenburg Research and to assure investors and regulators. The audits, the sources had said, was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for. The market value of the group's listed companies has halved since the January 24 report by Hindenburg Research alleging that Adani pulled the largest con in corporate history using offsh

S&P puts Adani Transmission's ESG rating under review on governance issues

Will closely monitor developments, including any investigations by the Indian regulators and any additional disclosures by the Adani group, S&P said in a statement