Page 34 - Gautam Adani

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Adani Group reels after report from US based short-seller Hindenburg

NEW DELHI (Reuters) - Indian tycoon Gautam Adani's conglomerate has been pummelled by a stock rout and come under increasing scrutiny after U.S. short-seller Hindenburg Research

Adani Green, Adani Transmission, Adani Total Gas hit 52-week lows

Adani Ports and Special Economic Zone, Adani Wilmar, ACC, Ambuja Cements and New Delhi Television (NDTV) are down in the range of 1 per cent to 5 per cent.

Hindenburg's accusations against Adani Group put money-laundering in focus

A more than $100 billion rout in the share prices of the highly leveraged infrastructure owner has the potential to spark a broader contagion, especially if the local banking system gets infected

Stocks of Adani Group remain in MSCI indices after quarterly review

It is still unclear whether the index provider has adjusted weightings of any of the group's stocks in its equity gauges in its latest review

Fresh troubles: Adani Group stocks decline on MSCI free float review

Questions 'characteristics' of certain investors; validation of findings, says Hindenburg founder

SC to hear plea seeking probe into Hindenburg report on Friday

The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. Advocate Vishal Tiwari, who has filed the petition, mentioned the matter for urgent listing before a bench headed by Chief Justice D Y Chandrachud on Thursday. Tiwari told the bench, also comprising Justices P S Narasimha and J B Pardiwala, that a separate plea filed on the issue is scheduled to be listed for hearing on February 10. He urged the bench that his plea be also heard on Friday along with the separate plea. In his public interest litigation (PIL), Tiwari has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court by advo

Adani Total Gas net profit rises by 13% despite rise in input cost

Adani Total Gas Ltd -- the joint venture of Adani group and TotalEnergies of France which retails CNG to automobiles and piped gas to households -- on Thursday reported a 13 per cent increase in net profit as sales rose. Net profit of Rs 148 crore in October-December compares to Rs 132 crore earnings in the same period a year back, the company said in a statement. Revenue from operations rose to Rs 1,186 crore from Rs 932 crore. CNG sales climbed 15 per cent to 116 million standard cubic metres while piped natural gas (PNG) sales dropped 23 per cent to 70 mmscm. The profitability rose despite a 27 per cent jump in cost of natural gas it converts into CNG and piped natural gas. "During the quarter, ATGL has delivered a good performance with its calibrated approach despite the high input gas price scenario," said Suresh P Manglani, CEO of the company. While the gas sector has been seeing volatility in prices due to geopolitical issues, moderation in the international gas prices in

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Adani faced margin call on $1.1 bn loan before repaying in full: Report

According to the report, the repayment was meant to avoid any further damage to investor confidence

Sustainalytics downgrades three Adani companies' governance scores

The changes would not have a major impact on the overall risk scores, a Sustainalytics director said

A Raja slams govt for not refuting Opposition's allegations on Adani

DMK leader A Raja claimed on Thursday that the opposition's allegations about businessman Gautam Adani stand true as the government has not "refuted" them. Participating in a discussion on the Union Budget for 2023-24, Raja said the claim of the government that it was the representative of 140 crore people of the country was also not true as the opposition has more than 200 MPs in Lok Sabha. "The allegations made by the opposition were not refuted at all by the government. Since it was not refuted, it stands true," he said. The opposition, including the Congress and the Dravida Munnetra Kazhagam (DMK), has stalled the proceedings of both Houses of Parliament for three days of the Budget Session, demanding a joint parliamentary committee probe into the fraud-allegation-triggered rout in Adani Group company stocks, before participating in the debate on the motion of thanks on the President's address. Raja said that out of the total MPs of the Lok Sabha, more than 200 belong to the ..

Cong MP's notice in LS, seeks details on PM's 'foreign travels with Adani'

The notice says, Discussion on Prime Minister's foreign travel with industrialist Gautam Adani and the benefit the group received in foreign tenders.

Adani plans to prepay $500 million loan due in March to banking group

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year

All governments are crony capitalists

The Adani saga has dented the government's image of incorruptibility. But it is doubtful whether the cronyism embedded in India's economic fabric will disappear anytime soon

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 ...

Rahul Gandhi making baseless allegations against govt: Ravi Shankar Prasad

BJP Lok Sabha member and former Union Minister Ravi Shankar Prasad on Wednesday alleged in Parliament that the Gandhi family was mired in corruption, and while themselves being out on bail

TotalEnergies has not signed contract on new Adani hydrogen venture

TotalEnergies has not yet signed a contract announced last year to extend its partnership with India's Adani to the production of green hydrogen, the chief executive of the French oil major said

To win back investors' trust, Adani Group to probe Hindenburg allegations

The decision to undertake an independent assessment comes at a time when investor faith in the group has been shaken

Rahul questions rise in Adani's fortunes, says happened during BJP's rule

A belligerent Rahul Gandhi on Tuesday led a blistering opposition attack in Lok Sabha over the Hindenburg report, claiming that the meteoric rise in Gautam Adani's fortunes happened after the BJP came to power in 2014 as he rose in the global rich list from the 609th to the second spot eventually. The Congress leader's remarks drew a sharp response from the treasury benches, with Law Minister Kiren Rijiju asking him not to level "wild allegations" and furnish proof of his claims. Outside Parliament, BJP leader Ravi Shankar Prasad accused Rahul Gandhi of making baseless, shameless and reckless allegations and charged that the Congress and the Gandhi family were involved in "big scams" which "tarnished" the image of the country. Speaker Om Birla disapproved of the Congress leader displaying two pictures of Prime Minister Narendra Modi - one in which he can be seen with Adani inside a plane and the other in which he is getting down from a plane which has an Adani logo on it - to ...