Page 14 - Adani Power

Founder Nate Anderson says Hindenburg has never been banned, seized

Nathan Anderson, the founder of Hindenburg Research whose damning report led to a USD 100 billion-plus rout in Adani Group shares, has said that his firm has never been banned, its bank account never seized and that it is not under any investigation. Since it published a scathing 100-plus-page report alleging that Adani pulled "the largest con in corporate history" on January 24, there have been comments on social media that Hindenburg had "three criminal inquiries" in the US and that it was banned by the Financial Industry Regulatory Authority (FINRA), its bank accounts frozen and it has been barred from publishing any report on firms listed on the New York Stock Exchange. Anderson, in a tweet, attached a news report "debunking" such "lies" and said Hindenburg was neither banned nor is under any investigation. "We are banned by FINRA (never); Had bank accounts seized (no); Can't publish on NYSE-listed co's (this isn't a thing); Are under investigation (no)," he said. Hindenburg, .

Divested entire stake in Adani group: Norway sovereign wealth fund

The world's largest stock investor says it sold its shares - worth just over $200 million - in three Adani group companies since the start of the year

Adani Power receives NCLT's approval for merger of six subsidiaries

As many as nine Adani Group firms were trading in the negative territory, while one company was trading in the green

Adani Power Q3 profit falls 96% YoY to Rs 9 cr; revenue rises 45%

Company's amalgamation with six of its operating subsidiaries receives approval from secured creditors

France's TotalEnergies puts hydrogen partnership with Adani on hold

France's TotalEnergies, one of the largest foreign investors in billionare Gautam Adani's business empire, said it has put on hold participation in Indian conglomerate's USD 50 billion hydrogen project pending results of an audit launched following allegations by a US short-seller. While the partnership with Adani group was announced in June last year, TotalEnergies has not yet signed a contract, the French group's chief executive Patrick Pouyanne said at earnings call. As per the June 2022 announcement, TotalEnergies was to take 25 per cent equity in Adani New Industries Ltd (ANIL) - the Adani Group firm that is investing USD 50 billion over 10 years in green hydrogen ecosystem that includes an initial production capacity of 1 million tonnes before 2030. "Obviously, the hydrogen project will be put on hold until we have clarity," Pouyanne said. TotalEnergies, which has an exposure of USD 3.1 billion in Adani group, will wait for the result of an audit launched by the conglomerate

Adani Power reports 96% decline in profits, cites high coal import costs

Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago. During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU), as compared to PLF of 41 per cent and power sale volume of 10.6 BU in Q3 FY22. Operating performance for Q3 FY23 includes the performance of the 1,200 MW power plant of Mahan Energen Ltd, which was acquired in March 2022. Operating performance during the quarter under review was constrained mainly due to high prices of imported coal and insufficient domestic fuel ...

Stocks to Watch: Bharti Airtel, Hero Moto, Adani Green, Ambuja Cement, NDTV

Stocks to Watch: Airtel reported a 91.5 per cent year-on-year rise in consolidated net profit; Adani Green Energy's consolidated net profit more than doubled to Rs 103 crore in Q3

No change in PPA for the project sought by Bangladesh: Adani Power

Last week, Bangladesh news agency, UNB reported that BNPB has sought revision of PPA

Bangladesh wants revision of 2017 power purchase deal with Adani Power

Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute. According to Bangladesh's private UNB news agency, the letter of the BPDC, which is to procure the power, sought the revision as it received a request from Adani Power in relation to opening LCs in India to import the coal for the 1,600 MW plant in Godda district of Jharkhand. "In our view, the coal price they have quoted (USD400/MT) is excessive - it should be less than USD 250/MT, which is what we are paying for

Rout in Adani Group stocks triggers panic sell-off in PSU banks

A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans

Mixed day for Adani group stocks, market capitalisation unchanged

The flagship firm Adani Enterprises rose nearly 3.4 per cent after its follow-on share sale managed to sail through

Adani firms lose $65 billion in value as US short-seller battle escalates

Adani Transmission, Adani Total Gas, Adani Green Energy, Adani Power and Adani Wilmar fell between 5% and 20% on Monday

Counting losses: Adani group stock rout hits Rs 5.6 trillion in 3 days

Shares of Adani Green Energy and Adani Total Gas hit the 20 per cent lower circuit for a second day, closing at Rs 1,189 and Rs 2,342, respectively

Cloud over Adani Enterprises FPO as stock dips 11-15% below offer

Offer garners just 1% subscription on opening day, with bids worth just Rs 150 cr vs Rs 14,908 cr on offer

As market capitalisation takes a beating, Adani group slips to No. 3

Total m-cap lowest since March 2022 after 2-day decline

Hindenburg's hydrogen connection

It is ironic that a research outfit that has accused the Adani group of financial manipulation is named after a disaster that continues to haunt the world's hydrogen ambitions

Rout in Adani group shares, banks drag Sensex 874 pts, Nifty ends at 17,600

Closing Bell: Adani Enterprises and Adani Ports were the leading Nifty losers, which ended 18 and 15 per cent lower, respectively. SBI, ICICI Bank, IndusInd Bank were next in line sinking up to 5%

Rebound in power demand to fire up related stks over medium-term: Analysts

On the bourses, shares of Adani Power, Adani Transmission, CG Power, NHPC, NTPC, and Adani Green Energy have surged up to 61 per cent so far in FY23, ACE Equity data shows

Sensex ends 563pts up at 60,656, Nifty above 18,050; L&T, HUL rise up to 3%

CLOSING BELL: Broader markets, however, underperformed benchmark indices as Nifty SmallCap 100 and Nifty MidCap 100 indices dropped up to 0.1 per cent

Stocks to Watch: RIL, Adani Power, Siemens, Angel One, Bank of Baroda, M&M

Stocks to watch today: Bank of India, Delta Corp, ICICI Prudential Life Insurance Company, Metro Brands, and Network18 Media are some of the companies slated to report their Q3FY23 results on Tuesday